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Dollar General
52462 S US Hwy 131, Three Rivers, MI 49093
$1,579,716
Cap Rate 6.60%
Summary
| Price $1,579,716 | Built/Renov 2022 | Tenant Dollar General |
| Cap Rate 6.60% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
10,705
| Lease Start
07-15-2022
| #Units
19,294
|
| Price/SF $147.57 | Expiration
07-31-2037
| Tenant Type Dollar/Discount |
| NOI $104,261 | R. Term 13.7 | Ownership Fee Simple |
| Rent/SF
$9.74
| Increases 10.0%/13/yrs | Pop 5Mi 6,395 |
| Lot/AC 3.99 | Options 5/5yrs/10% | AHHI 5Mi $110,766 |
| | |
Lease Highlights
- 2022 build-to-suit construction for Dollar General PLUS
- Dollar General has 13+ years remaining on the base term of an initial 15-year lease
- The lease features 5 (5-year) renewal options, all of which include a 10% rent increase
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee | Investment grade tenant
Location Description
This recently constructed Dollar General is strategically located on Highway 31 which sees 20,000+ vehicles passing by daily. The property benefits from being positioned near multiple local business that provide a strong customer base from which to draw. 6,392 residents, earning an average household income of $110,766 occupy the 5-mile surrounding radius. Three Rivers is a city in St. Joseph...
...Features
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New construction
-
Highway location
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Affluent AHHI $100K 5 Mi
-
Brand new lease
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Absolute NNN
-
Long 10+ yr lease
-
Limited competition
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Traded and rated company
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Corporate Guarantee
-
Investment grade tenant
...
Maps
Tenant
- Tenant: Dollar General
- Guarantor:Corp T and Rated
- Company:Dollar General Corp.
- # Units:19,294
- Tenant S&P: BBB
- Moody’s: Baa3
- Stock:NYSE: DG
About Tenant
Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 224 | 1,722 | 5,929 |
| 2023 Total Population : | 228 | 1,759 | 6,027 |
| 2023 Employed Civilian Pop : | 108 | 845 | 3,115 |
| 2023 Total Businesses : | 20 | 45 | 160 |
| 2023 Average Household Income : | $ 103,353 | $ 99,265 | $ 103,177 |
| 2023 Total Consumer Spending : | $ 9 M | $ 60 M | $ 210 M |
| 2023 Median Age : | 51 | 50 | 47 |
| 2023 Total Households : | 103 | 708 | 2,356 |
| 2023 Pop Age 25+: Bachelor's Degree : | 23 | 176 | 791 |
| 2023 Average Home Value : | $ 224,709 | $ 239,792 | $ 262,752 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| M 216 | US Hwy 131 | 2022 | 3,487 | 0.55 mi |
| M 216 | US Hwy 131 | 2021 | 3,562 | 0.55 mi |
| Michigan Avenue | US Hwy 131 | 2022 | 1,721 | 0.69 mi |
| MICHIGAN AVE | 2020 | 1,509 | 0.69 mi | |
| US Hwy 131 | Wilbur Rd | 2015 | 16,600 | 0.80 mi |
| M 216 | Pulver Rd | 2015 | 3,400 | 1.40 mi |
| Buckhorn Road | Marcellus Rd | 2022 | 613 | 1.42 mi |
| US 131 | Fisher St | 2021 | 244 | 1.55 mi |
| Fisher St | 2022 | 237 | 1.55 mi | |
| Fisher St | 2022 | 448 | 1.78 mi |
