Listed by Secure Net Lease
$1,425,732
Dollar General
Details
Property Type Retail
Sub Type Grocery Store, Pharmacy/Drug
Square Footage 9,100
Cap Rate 6.35%
NOI $90,534
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 03/01/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options (3) 5-Year Renewal Options
Price per SqFt $157
Year Built 2019
Acreage 1.240
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/2019
Ground Lease No
6.35% CAP | 10 miles Northwest of Downtown Waco, TX
Marketing description
- Rent Commencement: March 2019
- 8+ Years Remaining on Corporate Absolute NNN Lease with (3) 5-Year Options to Renew. 10% Rental Increases in each Option Period
- This Site is 10 miles Northwest of Downtown Waco, TX, offering residents access to larger-scale amenities, healthcare, shopping, and educational institutions. It is located on a main thoroughfare connecting to I-35 (79k+ VPD), a major north-south highway leading from San Antonio through Dallas-Fort Worth, and 5 miles north of Waco Regional Airport.
- Limited Competition - This Dollar General is one of only two grocery options in the immediate area, providing reliable access to in-demand products that are essential for daily living for the residents.
- Waco, TX Is Located Halfway Between Two Major Cities: Dallas and Austin and consistently ranks in the top 10 for highest job growth in Texas. Waco is home to Baylor University (20,824+ students), known for strong research programs, nationally ranked academics, and being the oldest continuously operating university in Texas. It is also home to Magnolia Market at the Silos (2.5M visitors/year), a popular shopping and lifestyle destination in Waco created by HGTV personalities Chip and Joanna Gaines.
- Investment Grade Tenant - Dollar General’s corporate guarantee and ongoing expansion into rural areas underscore its commitment to smaller markets, making it a dependable tenant in underserved regions.
- Dollar General, a Fortune 500 Company and One of the Largest Discount Retailers in the U.S., operates over 20,400 stores across 47 states. Known for resilience and steady growth, the company reported over $40.17B in annual revenue at the end of 2024.
Investment highlights
- 8+ Years Remaining on 15-Year Absolute NNN Lease
- Low Rent - $9.95 PSF | Large Parcel (1.24 Acres)
- 14-Miles from Downtown Waco | Home to Baylor University (20,824+ Students) & Magnolia Market at the Silos (2.5M Visitors/Year)
- Limited Competition | One of Only Two Grocery Options in the Immediate Area
- Located Along Main Thoroughfare Connecting to I-35 (79k+ VPD) | Major North-South Highway from San Antonio Through DFW
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,534.00
$7,544.50/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
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