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Dollar General, Beaumont, TX

Dollar General

Texas, USA

Price $2,100,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases In Option Periods
Year Built 2022
Building Size 10,566 SF
Lot Size 1.50 Acres (65,340 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY TO GROWING RETAIL TENANT
» New 15-year absolute NNN lease to growing retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Dollar General’s annual revenue exceeds $34 billion
» Dollar General Ranked #91 on Fortune 500 list (12 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 18,130 locations in 46 states and has plans for significant future growth
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, ideal investment opportunity for an out-of-area investor

STRATEGIC LOCATION NEAR U.S. HIGHWAY 287
» Located on Tram Road with beneficial proximity to U.S. Highway 287 (136,841 AADT) and State Highway 105 (44,366 AADT)
» Nine miles from Downtown Beaumont (115,282 residents), and 90 miles from Houston (the fourth-most populous city in the U.S. with over 2.3 million residents)
» Population of 40,559 within a five-mile radius of the location, providing a consistent customer base for the site
» Minutes from Homer Dr Elementary School (654 students), Guess Elementary School (567 students), and Bob Hope School (200 students), increasing traffic in the area
» Four miles from Beaumont’s main retail corridor anchored by the highly visited Parkdale Mall with over 150 specialty stores
» Near local and national tenants including Walmart Supercenter, Target, Best Buy, CVS Pharmacy, Hobby Lobby, Lowe’s Home Improvement, and numerous others

NEW 2022 CONSTRUCTION IN TAX-FREE STATE
» High-quality construction completed in 2022
» 21-foot pylon sign facing Tram Road, increasing visibility to the location
» Large, 1.50-acre parcel
» Texas has no state income tax, estate tax, or inheritance tax


Property Description

SOLD

Dollar General is located on Tram Road (6,740 AADT) with beneficial proximity to U.S. Highway 287 (136,841 AADT) and State Highway 105 (44,366 AADT). The property near Walmart Supercenter, Target, Best Buy, CVS Pharmacy, Hobby Lobby, Lowe’s Home Improvement, and numerous other national tenants. The site is situated four miles from Beaumont’s main retail corridor, featuring Parkdale Mall (150 specialty stores). The site maintains proximity to several large area hospitals such as CHRISTUS Southeast Texas – St. Elizabeth (431 beds), Baptist Hospitals of Southeast Texas (406 beds), and The Medical Center of Southeast Texas – Beaumont (224 beds). The property is minutes from Homer Dr Elementary School (654 students), Guess Elementary School (567 students), and Bob Hope School (200 students), increasing traffic in the area.

The location has 40,559 residents living within a five-mile radius, providing a consistent customer base for the property. The site is supported by an established customer base with an average annual household income of $85,821 within five miles and is projected to increase 11 percent by 2026. The property is nine miles from Downtown Beaumont (115,282 residents) and 90 miles from Houston, the fourth-most populous city in the U.S. with over 2.3 million residents.

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