Dollar General,
Madison, NY Investment Summary
| Price | $1,816,000 |
| 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 Replacement |
| Rental Increases | 10% Rental Increases in Option Periods |
| Year Built | 2021 |
| Building Size | 9,100 SF |
| Lot Size | 1.9 Acres (82,764 SF) |
| Status | Sold |
| Lead Brokers | Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» 15-year Absolute NNN lease with four (4) option periods of five (5) years each
» 10% rental increases in option periods, providing a hedge against inflation
» Minimal landlord management
» New 2021 upgraded 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 annual revenue exceeds $27.8 billion
» Dollar General 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
CENTRAL MADISON LOCATION WITH ACCESS TO MAIN THOROUGHFARES AND COMMUNITY HUBS
» High-visibility and easily accessible location along U.S. Route 20, the main east-west thoroughfare traversing the entirety of Madison (5,600 AADT)
» 76,668 residents live within a 15-mile radius of the location, providing a large customer base for the site
» Located in an affluent area, with an average annual household income of $81,922 within 15 miles of the site
» Gateway to large outdoor recreation areas and attractions, including Charles E. Baker State Forest, Gorton Lake State Forest, and Mt. Hunger State Forest
» One mile from Madison Central School, one of Madison’s largest schools (462 students)
» 21-foot pylon sign facing U.S. Route 20, increasing visibility to the location
Property Description
SOLD
The property has a high-visibility and easily accessible location along U.S. Route 20, the main east west thoroughfare traversing the entirety of Madison (5,600 AADT). 76,668 residents live within a 15 mile radius of the location, providing a large customer base for the site. The property also benefits from its location in an affluent area, with an average annual household income of $81,922 within 15 miles of the site. The site serves as a common gateway to large outdoor recreation areas and attractions, including Charles E. Baker State Forest, Gorton Lake State Forest, and Mt. Hunger State Forest, greatly increasing traffic to the location. The property also resides one mile from Madison Central School, one of Madison’s largest schools (462 students). The Dollar General location is a new, high-quality, upgraded 2021 construction, featuring Dollar General’s latest prototype and a 21-foot pylon sign facing U.S. Route 20, increasing traffic to the site.
