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DOM: 84 Updated: 06.05.24 Posted: 01.31.24 Status: Sold 04.25.24

Summary

Price $1,430,000 $1,460,000
Built/Renov 2014
Tenant Dollar General
Cap Rate 7.50% 7.35%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,562
Lease Start 03-27-2016
#Units 19,986
Price/SF $167.02 $170.52
Expiration 03-31-2031
Tenant Type Dollar/Discount
NOI $107,250
R. Term 5.10
Ownership Fee Simple
Rent/SF $12.53
Increases 10.0%/2/yrs
Pop 5Mi 72,912
Lot/AC 1.00
Options 3/5yrs/10%
AHHI 5Mi $75,609

Highlights

  • Dollar General has 7 years remaining on the current lease term with 3 (5-year) options to extend

  • The lease features 10% rental increases every 5 years throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on S. Main Street, with approximately 13,925 vehicles passing by daily. The property is directly adjacent to Bagel University. The surrounding area boasts national tenants such as TD Bank, GNC, Wawa, Wendy's, Verizon, and more. Additionally, in close proximity, there are educational institutions, including Dr. John Winslow Elementary School, Veterans...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of  variety stores . The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,007 47,891 72,757
2023 Total Population : 7,217 48,620 74,019
2023 Employed Civilian Pop : 2,648 20,297 31,258
2023 Total Businesses : 135 1,642 2,590
2023 Average Household Income : $ 80,207 $ 87,462 $ 87,520
2023 Total Consumer Spending : $ 187 M $ 1342 M $ 2094 M
2023 Median Age : 37 38 39
2023 Total Households : 2,704 17,758 27,682
2023 Pop Age 25+: Bachelor's Degree : 922 5,118 7,494
2023 Average Home Value : $ 269,197 $ 261,744 $ 257,486
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Main Rd Magnolia Rd 2004 16,353 0.08 mi
South Main Road Magnolia Rd 2017 13,925 0.19 mi
Magnolia Road Blackburn Ct 2017 3,856 0.24 mi
S State St Fava Dr 2000 185 0.30 mi
Allen Ave Fava Dr 2000 135 0.37 mi
South Main Road 2018 13,869 0.42 mi
Magnolia Road 2018 3,658 0.46 mi
Roosevelt Blvd S Main Rd 2003 865 0.47 mi
S Main Rd Roosevelt Blvd 2018 13,548 0.51 mi
S East Ave Fava Dr 2017 4,101 0.53 mi

Listing Broker

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