Dollar General | Low Price Point
8.19% CAP | Below Market Rent | 25+ Yr Operating History
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire a long-standing, corporately guaranteed Dollar General located at 120 W Main Street in New Cordell, Oklahoma. Dollar General has occupied this location for over 25 years and currently operates under a corporate-backed double net (NN) lease with approximately 5.25 years remaining. The tenant pays just $2,900 per month—an extremely low rent level of approximately $3.10 per square foot—offering significant future upside upon lease renewal or repositioning.
The ±11,250-square-foot building sits on a ±0.28-acre parcel at a central location along Cordell’s Main Street, just steps from the Washita County Courthouse and other civic anchors. Dollar General completed a full remodel of the store in 2012, and the landlord is only responsible for roof and structure. The lease includes no remaining options, which opens the door for renegotiation or redevelopment in the near future.
New Cordell is the county seat of Washita County and serves as a key retail and services hub for the surrounding rural area. The store benefits from limited retail competition, a captive customer base, and proximity to schools, parks, and regional employers. With stable in-place income, a low acquisition basis, and corporate tenancy, this offering presents an attractive opportunity for investors seeking yield today with long-term flexibility and upside potential.
Investment highlights
Long-Term Corporate Tenant With Over 25 Years of Operating History
• Dollar General Has Occupied This Location Since 2000, Demonstrating Strong Unit-Level Performance
• Lease Is Guaranteed by DOLGENCORP, LLC, a Wholly Owned Subsidiary of Dollar General Corporation (NYSE: DG)
• Dollar General Operates 20,000+ Locations Nationwide With 2024 Revenue Exceeding $40 Billion
Extremely Low Rent With Future Upside Potential
• Current Annual Rent of Just $34,800 or ~$3.10/SF Offers Below-Market Basis for Future Renewal or Re-Tenanting
• No Remaining Renewal Options—Landlord Has Full Negotiating Leverage at Expiration
• Property Can Be Easily Repositioned or Re-Tenantable Due to Its Size, Layout, and Location
In-Place Corporate Income With Limited Landlord Responsibility
• NN Lease Structure With Landlord Responsible Only for Roof and Structure
• Full Interior and Exterior Remodel Completed by Tenant in 2012
• Passive Income Opportunity With Limited Maintenance Exposure
Central Location in County Seat With High Visibility and Foot Traffic
• Positioned on W Main Street in the Heart of New Cordell—Adjacent to the Washita County Courthouse
• Surrounded by Key Local Tenants Including United Supermarket, Sonic Drive-In, Napa Auto Parts, and Cordell Memorial Hospital
• Benefits From Consistent Daily Traffic From Government Offices, Schools, and Local Services
Affordably Priced Investment Offering an Above-Market Yield
• Offered at $425,000 With a 8.19% Cap Rate on Existing Income
• Ideal for Private Investors Seeking a Corporate Tenant With Low Entry Price and High Return
• Provides Immediate Cash Flow and Optionality at Lease Expiration
Located Within Driving Distance of Oklahoma City MSA
• Approximately 75 Miles From the Oklahoma City Metro—The Largest Economic Hub in the State
• Regional Access via Major Highways With Steady Demand From Surrounding Rural Trade Area
• New Cordell Supports a Stable Population and a Resilient Community-Oriented Economy
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