Investment Summary
Price | $2,180,000 |
Cap Rate | |
NOI | |
Lease Term | 15 years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 10% rental increases every five (5) years |
Year Built | 2023 |
Building Size | 10,640 SF |
Lot Size | 1.0 acres (43,560 SF) |
Status | Closed |
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 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» 15-year absolute NNN lease to growing retail 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
RAPIDLY GROWING WYOMING CITY WITH IMMEDIATE ACCESS TO I-25
» Excellent visibility and access to 10,739 vehicles per day at the signalized four-way intersection of South Riverbend Drive and Interstate 25 Business Loop
» Immediate access to Interstate 25, a primary north-south thoroughfare connecting Wyoming to Colorado, allowing the site to capture significant commuter traffic
» Growing community supported by a population projected to increase within 5-, 10-, and 15-mile radii over the next five years
» Average annual household income of $90,223 within 15 miles and is projected to increase 12%to $101,098 by 2027, showing the continued growth of the local market
» Neighbored by Hampton Inn & Suites Douglas, which features 100 rooms
» Surrounded by Douglas’ primary community hubs and traffic drivers, including the Douglas Conference Center, the North Platte River, Douglas Intermediate, Middle, and High School (1,149 students) Grasslands Market, McDonald’s, Arby’s, and more
NEW 2023 UPGRADED CONSTRUCTION IN A TAX-FREE STATE
» High-quality upgraded 2023 construction with plank, wainscot, and shutters
» Site features ample parking (35 total spaces) on a corner lot
» With a low tax burden, including no corporate or personal state income tax, Wyoming has been identified by the Tax Foundation as having the most business-friendly tax climate in the nation
Property Description
SOLD
» Exceptional Visibility and Access: This Dollar General has exposure to 10,739 vehicles per day at the signalized four-way intersection of South Riverbend Drive and Interstate 25 Business Loop
» Growing Demographics: The location offers a growing local market for businesses with a population increase projected within 5-, 10-, and 15-mile radii over the next five years. The average annual household income of $90,223 within 15 miles and is projected to increase 12% to $101,098 by 2027, showing the continued growth of the local market
» Conveniently Located: Situated with immediate access to Interstate 25, a primary north-south thoroughfare connecting Wyoming to Colorado, allowing the site to capture significant commuter traffic
» Surrounded by Community Hubs: The site is surrounded by Douglas’ primary community hubs and traffic drivers, including the Douglas Conference Center, the North Platte River, Douglas Intermediate, Middle, and High School (1,149 students) Grasslands Market, McDonald’s, Arby’s, and more
» Upgraded Construction: The location features a high-quality upgraded 2023 construction with plank, wainscot, and shutters on an corner lot, ideal for capturing passing commuters