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Dollar General, Whiting, NJ

Dollar General

Whiting, New Jersey

Price $2,591,000
Cap Rate 5.50%
NOI $142,500
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 2021
Building Size 7,545 SF
Lot Size 0.842 Acres (36,692 SF)
Status Available
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

Andrew J. Schwartz
Director
973.292.4624
dollargeneral.nj@cushwake.com

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY TO GROWING RETAIL TENANT
» New 15-year Absolute NNN corporate lease to growing retail tenant (NYSE: “DG”)
» 10% rental increases in option periods, providing a hedge against inflation
» No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $27.8 billion
» Dollar General Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 16,368 locations in 45 states and has plans for significant future growth

STRATEGIC LOCATION
» Strategically located at the hard corner intersection of Highway 530/Pinewald Keswick Road and Schoolhouse Road (24,378 AADT combined)
» Across from Walgreens and adjacent to CVS Pharmacy and Wells Fargo Bank, increasing visibility and crossover traffic to the location
» Beneficial proximity to John Davison Rockefeller Memorial Highway (19,690 AADT)
» Population of 524,586 within a 15-mile radius of the location, providing a consistent customer base for the site
» Average annual household income of $94,367 within 15 miles and projected to increase 11 percent by 2026

NEW 2021 CONSTRUCTION
» Upgraded construction completed in 2021
» Ample and easily accessible parking on site



Property Description

This Dollar General property is located at the hard corner, signalized intersection of Highway 530/Pinewald Keswick Road and Schoolhouse Road (24,378 AADT combined). The site maintains beneficial proximity to John Davison Rockefeller Memorial Highway (19,690 AADT). The property is situated across from Walgreens and adjacent to a CVS Pharmacy and Wells Fargo Bank, increasing visibility and crossover traffic to the location. The site resides in a populous area, with 524,586 residents living within a 15-mile radius of the property, providing a consistent customer base for the site. The average annual household income is $94,367 within 15 miles and is projected to increase 11 percent by 2026, poising Dollar General and Whiting for concurrent growth.

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