Listed by Matthews
$1,338,776
ABS NNN Dollar General | Recent Remodel and Lease Renewal
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 9,026
Cap Rate 8.00%
NOI $107,102
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree
Lease Type Absolute NNN
Lease Expiration 02/28/2032
Remaining Term 5.7
Rent Bumps Yes
Lease Options Four, 5-Year Options Remaining
Class A
Year Built 2012
Acreage 1.420
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/26/2012
Ground Lease No
Ownership Fee Simple
8.00% CAP | Upgraded Brick Facade
Investment highlights
- 2012 build-to-suit construction for Dollar General Corporation
- Absolute NNN Lease - Zero Landlord Responsibilities
- Limited competition- the nearest dollar store is over 5 miles away
- Corporately guaranteed lease from Dollar General Corporation
- Subject property is priced well below replacement cost
- Average Household Income is $82,011 within a 5 mile radius, which is considered to be a sweet spot for Dollar General
- Leased to Dollar General Corporation, rated BBB by S&P (investment-grade)
- National retailer with over 21,000 locations and active growth strategy
- Designated essential business, demonstrating operational resilience and profitability during and beyond the COVID-19 period
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,102.00
$8,925.17/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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