Matthews Real Estate
Listed by Matthews, Matthews Real Estate
$1,311,111
Dollar General
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 9,230
Cap Rate 6.75%
NOI $88,500
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Expiration 09/14/2031
Rent Bumps Yes
Lease Options Four, 5-Year Options
Price per SqFt $142
Class B
Year Built 2016
Acreage 1.170
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 09/15/2016
Ground Lease No
Ownership Fee Simple
Retail | 6.75% CAP | 9,230 SqFt
Investment highlights
- Investment-Grade Tenancy - The lease features a direct corporate guaranty from Dollar General Corporation, delivering elite credit stability and an uncompromised revenue stream to the asset. Dollar General's recession-resilient business model ensures consistent performance through all economic cycles.
- Absolute NNN Lease Structure - Operating under an Absolute NNN lease structure, the tenant handles all real estate taxes, property insurance, and structural/non-structural maintenance. This completely pass-through lease provides an out-of-state or passive investor with a hands-off, friction-free vehicle.
- Established Build-to-Suit Asset - Developed as a corporate build-to-suit in 2016, the ±9,230 SF building sits on ±1.17 acres of land along the market's primary commercial corridor. This proven operational history anchors the tenant's commitment to the local community.
- Compounding Yield Upside - The contract includes four (4) automatic 5-year renewal options. Each successive option triggers a 10% rent hike, increasing the annual Net Operating Income (NOI) from its current base of $88,500 up to $129,572.88 by the final option period.
- Affluent Submarket & High Consumer Spending - The property capitalizes on a high-earning small-town demographic, boasting a 3-mile average household income of $108,698 and capturing its share of a dense local market driving over $67 Million in annual consumer spending.
Listing Contacts
Matthews Real Estate
Listed by Matthews, Matthews Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$88,500.00
$7,375.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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