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Dollar General, Cresco, PA

Dollar General, Cresco, PA


Investment Summary

Price $1,681,000
Cap Rate 6.75%
NOI $113,415
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 9,100 SF
Lot Size 9,100 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 CORPORATE GUARANTY
» 15-year absolute NNN lease to major retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”; over $37B in 2023 revenue)
» 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 a passive or out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $37.8B
» Dollar General ranked #108 on Fortune 500 list in 2022
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates 19,371+ locations in 47 states with plans for significant future growth

IDEAL STORE LOCATION IN A WIDE AND UNDERSERVED TRADE AREA WITH LIMITED COMPETING SERVICES
» Easily accessible location along Peterson Road, with access to 5,753 AADT directly in front of the site
» Affluent location with an average annual household income of $95,860 within 15 miles of the site (projected 14% increase by 2028)
» 20 minutes from the Pocono Mountains, a major U.S. vacation & tourist destination with approximately 27-30 million annual visitors
» 148,598 residents live within 15 miles of the site, providing a stable customer base
» Surrounded by popular Pennsylvania natural attractions, including Tobyhanna State Park, Hemlock Campground, ForEvergreen Nature Preserve, Promised Land State Park, and Delaware State Forest

2022 CONSTRUCTION ON 1.80 ACRES
» 2022 construction built to Dollar General’s latest prototype
» Large pylon sign located in front of store to generate additional visibility and traffic

Property Description

» This Dollar General boasts excellent visibility on Peterson Road, the main thoroughfare in Cresco, with access to 5,753 AADT directly in front of the site (largest traffic count in the area)
» The site is positioned in an affluent location with an average annual household income of $95,860 within 15 miles of the site (projected 14% increase by 2028)
» The property is located just 20 minutes from the Pocono Mountains, a major U.S. vacation & tourist destination with approximately 27-30 million annual visitors
» The site is surrounded by popular Pennsylvania natural attractions, including Tobyhanna State Park, Hemlock Campground, ForEvergreen Nature Preserve, Promised Land State Park, and Delaware State Forest
» 148,598 residents live within 15 miles of the site, providing a stable customer base

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