Listed by Matthews
$1,213,804
DOLLAR GENERAL (NNN) | Pierpont, OH
Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 9,100
Net Rentable (SqFt) 9,100
Cap Rate 7.65%
NOI $92,856
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Store
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 01/31/2035
Remaining Term 8.5
Rent Bumps Yes
Lease Options Three, 5-Year
Year Built 2020
Acreage 1.480
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease No
2020 BTS Construction | 7.65% Cap Rate | ±8.5 Years Remaining
Investment highlights
- 2020 Build-to-Suit: Construction for Dollar General with ± 8.5 years remaining on an initial 15-year absolute NNN lease.
- Attractive Return: 7.65% return on a stabilized investment-grade credit tenant.
- Tourist Proximity: Close to Pymatuning State Park and Pineview Campgrounds, generating consistent consumer traffic and supporting surrounding retail demand.
- Strategic Location: Pierpont, OH, is located 17 miles southeast of Ashtabula, OH, and 35 miles southwest of Erie, PA.
- Minimal Competition: The nearest national dollar-store competitor is 10+ miles away, allowing Dollar General to maintain a dominant position within the local market.
- Investment-Grade Credit: Dollar General boasts an investment-grade credit rating of BBB (S&P).
- National Expansion: Dollar General has ±20,000 locations and plans to continue their expansion for the foreseeable future.
- Essential Retailer: Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic.
- Strong Market Cap: Dollar General has a market cap of ±$23 billion.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$92,856.00
$7,738.00/mo
Valuation Metrics
0
DSCR
7.65%
Cap Rate
7.65%
ROI
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