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Dollar General, Berlin, NJ

Dollar General, Berlin, NJ


Investment Summary

Price $2,128,000
Cap Rate 6.25%
NOI $132,941
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 2023
Building Size 10,640 SF
Lot Size 1.755 acres (76,468 SF)
Status Available
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
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH A STRONG CORPORATE GUARANTY
» 15-year absolute NNN lease to an investment grade credit tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Fixed rent in the initial term with 10% rental increases every five (5) years in option periods
» 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 #106 on Fortune 500 list in 2022
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 19,147 locations in 47 states with plans for significant future growth

UNDERSERVED FIVE-MILE POPULATION OF 58,098 WITH 19,744 AADT WITH PROXIMITY TO WORLD-CLASS TRANSPORTATION NETWORK
» High-visibility and access to 19,744 daily vehicles along Highway 73/Cedarbrook Road
» Supported by a population of 58,098 within a five-mile radius
» Average annual household income of $135,479 within one mile and projected to increase 23% to $166,429 by 2027, showing the continued growth of the local market
» Less than two miles from Winslow Twp Elementary School 2 & 5 (947 students)
» Gateway to Philadelphia (1.58 million residents), the most populous city in Pennsylvania and the 6th largest city in the United States
» Part of the tri-state Philadelphia metropolitan area “Greater Philadelphia”, the seventh-largest metro region in the nation with 6.5 million residents
» Greater Philadelphia is strategically located in the heart of the East Coast with a world-class transportation network offering a competitive advantage to companies operating in the region
» 32 miles from Philadelphia International Airport which serves 32.24 million passengers annually to more than 140 destinations worldwide

NEW 2023 HIGH-QUALITY UPGRADED CONSTRUCTION
» High-quality 2023 construction with larger 10,600 SF building with plank, wainscot and shutters
» Site features ample parking (35 total spaces) on a large 1.755-acre parcel

Property Description

» Exceptional Visibility and Access: This Dollar General has ideal exposure to 19,744 vehicles daily along Highway 73/ Cedarbrook Road
» Strong Demographics: The location offers a robust local market for businesses with a large population of 58,098 within a five-mile radius, and an average annual household income of $135,479 within one mile. The income is projected to increase to $166,429 by 2027, supporting the continued growth of the area
» Convenient Location: Situated less than two miles from Winslow Twp Elementary School 2 & 5, the property is an attractive choice for nearby workforce and families with school-aged children
» Gateway to Philadelphia: The site is situated in proximity to Philadelphia, the most populous city in Pennsylvania and the sixth-largest city in the United States, with a population of 1.58 million residents
» Greater Philadelphia Metro Area: The location is part of the tri-state Philadelphia metropolitan area, the seventh-largest metro region in the nation with 6.5 million residents, offering a range of opportunities for businesses to tap into
» Strategic Transportation Network: With its location in the heart of the East Coast, the Greater Philadelphia area boasts a world-class transportation network, offering a competitive advantage to companies operating in the region. Moreover, being 32 miles from Philadelphia International Airport – which serves over 32.24 million passengers annually to more than 140 destinations worldwide – further adds to the location’s strategic appeal

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