Listed by Matthews
$1,517,647
Dollar General - Part of a 2 Property Portfolio
Details
APN 1605211003043000
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 9,100
Cap Rate 8.5%
NOI $129,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree
Lease Type NN
Lease Term 21
Lease Expiration 04/30/2030
Remaining Term 3.9
Rent Bumps Yes
Lease Options Five, 5-Year
Price per SqFt $167
Broker Co-Op True
Year Built 2009
Buildings 1
Stories 1
Acreage 0.760
Zoning Misc. Commercial
Parking Spaces 38 spaces
Parking Per SqFt 4.18
Investment Type Value Add
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/01/2009
Occupancy Date 05/01/2009
Ground Lease No
Ownership Fee Simple
8.50% Cap | Recent Extension | ±40,000 Residents within 5 Miles
Investment highlights
- Tenant has exercised multiple renewal options, demonstrating long-term commitment and strong store performance.
- 9,100 square foot built to suit building constructed in 2009 for Dollar General. The building sits on a 0.76 Acre parcel including a concrete parking lot with 38 parking spaces.
- There are ±4 years left on the lease with five, 5-year options to extend with built in 10% rental increases each option.
- NN lease with the landlord responsible for roof, lot, structure, and HVAC occurrences > $1,000). The tenant reimburses landlord in full for snow removal.
- Corporate lease guaranty from Dollar General Corporation (S&P BBB-rated, Fortune 500 company).
- In addition to the rent, Dollar General pays an additional $504.67 per month for common area maintenance which increases 10% in the option periods.
- Enterprise serves as the primary commercial hub for Fort Novosel (formerly fort Rucker), the U.S. Army's premier aviation training installation. The base supports a population of about 25,000 military personnel, civilian employees, contractors, and their families creating consistent demand for necessity based retailers
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$129,000.00
$10,750.00/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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