Dollar General,
Port Neches, TX Investment Summary
| Price | $1,620,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years In Option Periods |
| Year Built | 2022 |
| Building Size | 10,640 SF |
| Lot Size | 3.11 Acres (135,472 SF) |
| Status | Sold |
| Lead Brokers | 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 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 |
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
» Corporate Guaranty (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 $34.2 billion
» Dollar General Ranked #91 on Fortune 500 list in 2021 (the 21-place jump into the Top 100 reflects the company’s exceptional growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 18,130 locations in 46 states and has plans for significant future growth
STRATEGIC LOCATION IN GROWING TEXAS SUBURB
» Located along Port Neches Avenue, a primary east-west thoroughfare
» Beneficial proximity to U.S. Route 96, a major north-south Texas thoroughfare (46,530 AADT)
» 66,893 residents within five miles of the property with an annual household income average of $105,837 within three miles
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years, poising Dollar General and Port Neches for steady concurrent growth
» Centralized location between Downtown Beaumont, Sabine Lake, and the Texas/Louisiana borderline
NEW 2022 CONSTRUCTION
» High-quality 2022 construction built to Dollar General’s latest prototype
» 21-foot pylon sign attracting additional traffic to the site
Property Description
Sold
» Located along Port Neches Avenue, a primary east-west thoroughfare
» High-quality 2022 construction built to Dollar General’s latest prototype
» Beneficial proximity to U.S. Route 96, a major north-south Texas thoroughfare (46,530 AADT)
» 66,893 residents within five miles of the property with an annual household income average of$105,837 within three miles
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years, poising Dollar General and Port Neches for steady concurrent growth
» 21-foot pylon sign facing Port Neches Avenue, attracting additional traffic to the site
» Centralized location between Sabine Lake, Downtown Beaumont, and the Texas/Louisiana border
