Dollar General,
Janesville, CA Investment Summary
| Price | $2,277,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for all Taxes, Insurance, Utilities, Maintenance, and Repair, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases in Option Periods |
| Year Built | 2019 |
| Building Size | 9,026 SF |
| Lot Size | 1.78 Acres (77,537 SF) |
| Status | Sold |
| Lead Brokers | 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 Cushman and Wakefield Inc. LIC. # 00616335 |
Investment Highlights
CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in option periods, providing a hedge against inflation
ABSOLUTE TRIPLE NET LEASE
» 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
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s
» Dollar General’s yearly revenues exceed $23.5 billion
» Dollar General operates more than 15,000 locations in 44 states and has plans for significant future growth
HARD CORNER LOCATION WITH MINIMAL COMPETITION AND AFFLUENT DEMOGRAPHICS
» Located at the hard corner of U.S. Highway 395 and Main Street, with excellent visibility and access to 10,050 vehicles per day
» U.S. Highway 395 is a major transportation corridor and is the shortest route for traffic traveling from Reno to the northern end of the Interstate 5 corridor
» Main Street serves as Janesville’s primary commercial corridor
» Closest dollar store/Dollar General is 10 miles away in Susanville
» Average household incomes hovering around $90,000 within one-, three-, and five-mile radii
NEW 2019 CONSTRUCTION
» High-quality construction, scheduled to be completed in early 2019
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is conveniently located at the hard corner of U.S. Highway 395 and Main Street, with excellent visibility and access to 10,050 vehicles per day. U.S. Highway 395 is a major transportation corridor and is the shortest route for traffic traveling from Reno to the northern end of the Interstate 5 corridor. Main Street serves as Janesville’s primary commercial corridor, and the property is close to local retailers, regional chains, and national tenants, including U-Haul and Pizza Factory. The site is surrounded by substantial amounts of ranch and forest land, as well as outdoor recreational areas like Honey Lake, Lake Leavitt, several national forests, and Janesville Park. The property is supported by an affluent customer base, with average household incomes hovering around $90,000 within one-, three-, and five-mile radii.
