Dollar General,
Wright, WY Investment Summary
| Price | $1,737,000 |
| 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 | 2020 |
| Building Size | 9,100 SF |
| Lot Size | 1.25 Acres (54,450 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
15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» No landlord management, with tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor
» New 2020 construction built to Dollar General’s latest prototype
INVESTMENT-GRADE CREDIT TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $27.8 billion
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
NEAR SCHOOLS, EMPLOYERS, AND NEW DEVELOPMENTS
» Excellent visibility and access to 2,779 vehicles per day directly in front of the location at the hard corner of Reno Drive and State Route 387 (2,779 AADT)
» Convenient access to highly trafficked Cheyenne thoroughfares including State Route 59 (4,324 AADT)
» Average annual household income of $88,489 within a five-mile radius of the property, providing an affluent customer base for the site
» Surrounded by a strong mix of local and national retailers, including Subway, Exxon, Napa Auto Parts, TruTech Products, and more
» Convenient access to Wright Junior Senior High School and Cottonwood Elementary School (combined 440 students)
» Excellent location in a major Wyoming commuter corridor, with close proximity to several high-density, single-family developments
» Only Dollar General location within a one-hour drive of the property
WYOMING RANKED #1 MOST TAX-FRIENDLY STATE IN U.S.
» Combined state and local sales tax is the third lowest in the U.S.
» No state income tax, and gas tax is well below national average
Property Description
SOLD
The property is conveniently located on Reno Drive, with excellent visibility and access to 2,779 vehicles per day directly in front of the location. Visibility is increased by the site’s location near major Wyoming thoroughfares, including State Route 59, which connects Douglas to Gillette (4,324 AADT). The location serves an affluent customer base, with an average annual household income of $88,489 within a five-mile radius of the property.
The property also benefits from its location near major community hubs and employers. The site is surrounded by a strong mix of local and national retailers, including Subway, Exxon, Napa Auto Parts, TruTech Products, and more. It is also minutes from Wright Junior Senior High School and Cottonwood Elementary School, which has a combined 440 students. The property provides an excellent location in a major Wyoming commuter corridor, with close proximity to several high-density, single-family developments. The site also benefits from being the only Dollar General location within a one hour drive of the property.
