Dollar General
Retail | 8.75% CAP | 8,242 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 2228 US Highway 82 E in Greenville, Mississippi (the “Property”). Dollar General has been at this location since 2003 and has exercised several renewals, demonstrating their commitment to the site and the market. Dollar General has 2+ years remaining on their lease with three (3), 5-year renewal options. The lease features attractive rent increases at the start of each renewal option.
The Property is well located along US Highway 82 E, one of the area’s primary commercial and commuter corridors. Dollar General is convenient to Downtown Greenville and the waterfront district along the banks of the Mississippi River, which is home to municipal offices, the Tropicana Greenville, a Caesars Casino and Sportsbook, and some of the area’s largest employers. The Property also enjoys convenient access to area schools, Delta Health Systems – The Medical Center (hospital), and Greenville’s national and local retailers and manufacturing facilities. The Property is also easily accessible from Greenville’s residential neighborhoods providing a built-in customer base.
Greenville is positioned in west central Mississippi and is within 120 miles of Jackson, MS and 150 miles of Memphis, TN and Little Rock, AR.
Investment highlights
LONG TERM TENANT: Dollar General has been at this location since 2003 and has exercised several renewals demonstrating their commitment to the site and the market. Dollar General has 2+ years remaining on their lease with three (3), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The lease includes attractive rent increases at the start of each renewal option, providing a steady increase in income and an attractive hedge against inflation.
OPERATING EXPENSE PROTECTION: Dollar General reimburses 100% of real estate taxes and insurance and reimburses a fixed amount ($2,274.96) for common area maintenance.
INVESTMENT GRADE CREDIT: Dollar General has the highest credit rating among its peers and holds investment grade credit – rated BBB (S&P) and Baa2 (Moody’s). Dollar General operates over 20,500 locations throughout the country. Dollar General’s net sales increased 5% to $40.6 Billion in fiscal year 2024.
STRATEGIC LOCATION: Dollar General enjoys outstanding frontage and visibility along US Highway 82 E, one of the area’s primary commercial and commuter corridors. Dollar General is perfectly positioned to capture passing motorists on their way to Downtown Greenville and is convenient to the area’s schools and residential neighborhoods providing a built-in customer base. Dollar General is also just 1.5 miles from Delta Health System – The Medical Center and Greenville Technical Center, 2 miles from Washington County Convention Center and the Greenville Speedway, and 3.5 miles from Greenville’s Waterfront and Tropicana Greenville, a Caesars Casino and Sportsbook.
RECESSION RESISTANT TENANT: Dollar General thrives in middle-America markets where incomes may be modest, proving the tenant to be a resilient and recession-resistant retailer. Dollar General has reported positive year-over-year growth in net sales every year since the company went public in 2009.
TRAFFIC COUNTS: More than 18,700 vehicles pass by the Property each day along US Highway 82 E.
DEMOGRAPHICS: Over 23,300 people live within 3 miles of the Property with an average household income of $52,394. More than 36,500 people live within 10 miles of the Property with an average household income of $62,643.
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