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Updated: 04.09.24 Posted: 10.31.23 Status: Sold

Summary

Price $1,579,015
Built/Renov 2023
Tenant Dollar General Plus
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 01-09-2023
#Units 19,294
Price/SF $148.40
Expiration 01-31-2038
Tenant Type Dollar/Discount
NOI $101,057
R. Term 12.9
Ownership Fee Simple
Rent/SF $9.50
Increases 10.0%/15/yrs
Pop 5Mi 2,164
Lot/AC 2.47
Options 4/5yrs/10%
AHHI 5Mi $71,174

Lease Highlights

  • 2023 BTS plus size construction
  • Dollar General recently signed a new 15-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant (S&P: BBB)

Location Description

Dollar General Plus is strategically located along WI-87, averaging a traffic count of 2,257 vehicles passing by daily. Notably, it stands as the only dollar store within 8+ miles and benefits from limited competition. The 5-mile trade area is supported by a population of 2,164 residents, earning an average annual household income of $71,174. Cushing is situated in the state of Wisconsin,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 102 954 2,330
2023 Total Population : 96 940 2,309
2023 Employed Civilian Pop : 42 425 1,054
2023 Total Businesses : 10 26 59
2023 Average Household Income : $ 75,506 $ 82,913 $ 85,414
2023 Total Consumer Spending : $ 3 M $ 28 M $ 73 M
2023 Median Age : 49 48 48
2023 Total Households : 47 391 995
2023 Pop Age 25+: Bachelor's Degree : 6 76 193
2023 Average Home Value : $ 276,829 $ 283,533 $ 281,866
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 87 250th Ave 2015 2,500 0.10 mi
240th Ave Hwy 87 2009 310 1.03 mi
240th St Hwy 87 2015 2,600 1.28 mi
240th St 230th Ave 2018 3,100 1.93 mi
230th Ave 240th St 2004 510 2.17 mi
220th St 250th Ave 2004 340 2.62 mi
250th Ave 220th St 2009 870 2.95 mi

Listing Broker

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