DOLLAR GENERAL
PA, USA
| Price | $1,543,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years, With 13+ Years Remaining |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance |
| Rental Increases | 10% Rental Increases In Option Periods |
| Year Built | 2018 |
| Building Size | 9,026 SF |
| Lot Size | 2.5 Acres (108,900 SF) |
| Status | Sold |
| Lead Broker Information | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG)
» Tenant is responsible for taxes, insurance, and all maintenance
» No landlord management, making this asset an ideal investment opportunity for an out-of-area investor
» Upgraded 2018 construction
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenue exceeds $27.8 billion
» Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
EASILY ACCESSIBLE LOCATION IN HIGHLY POPULATED AREA
» 49,527 residents within a 15-mile radius of the property
» Hard corner location at the four-way intersection of State Route 8 and Lake Road
» 21-foot pylon sign facing State Route 8, increasing traffic to the site
CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Located at the confluence of several State Game Lands hunting grounds, attracting outdoor recreationists (outdoor recreation generates $29.1 billion in Pennsylvania consumer spending)
» Neighbored by Canadohta Lake community (516 residents)
» Gateway to Lake Erie ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors)
» Near several well-established businesses in primary Union City retail corridor
Property Description
SOLD
The property has an easily accessible location on the hard corner of State Route 8 and Lake Road, one of Union City’s main intersections. The location maintains access to 4,763 vehicles per day in front of the site. The property also benefits from its central location in a populated area, with 49,527 residents living within a 15-mile radius of the location. Traffic to the site is increased by the 21-foot pylon sign facing State Route 8.
The property is located at the confluence of several State Game Lands hunting grounds, attracting outdoor recreationists from around the area. Outdoor recreation generates $29.1 billion in Pennsylvania consumer spending. Traffic to the site is also increased by its proximity to a strong mix of well-established local retailers, and the property has convenient access to the neighboring Canadohta Lake community (516 residents). The location also serves as a common gateway to Lake Erie ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors).
