Dollar General,
Newfield, NJ Investment Summary
| Price | $2,740,000 |
| 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 |
| Rental Increases | 10% Rental Increases Every Five (5) Years In Option Periods |
| Year Built | 2022 |
| Building Size | 9,002 SF |
| Lot Size | 1.90 Acres (82,744 SF) |
| Status | Sold |
| 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 Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR NNN LEASE WITH CORPORATE GUARANTY
» New 15-year absolute NNN lease to growing retail tenant
» Corporate Guaranty (NYSE: “DG”)
» 10% rental increases in initial term and option periods, providing a hedge against inflation
» 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 #91 on Fortune 500 list in 2021 (the 21-place jump into the Top 100 reflects the company’s exceptional growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 18,130 locations in 46 states and has plans for significant future growth
STRATEGIC LOCATION ON NEWFIELD’S MAIN THOROUGHFARE
» Easily accessible from U.S. Route 40/Harding Highway, Newfield’s main thoroughfare, which leads to Atlantic City
» Located near State Route 55, Newfield’s primary north-south thoroughfare leading to Philadelphia (40,272 AADT)
» The property serves 435,741 residents within a 15-mile radius
» Average annual household income of $99,789 within five miles (projected to increase 12 percent by 2026)
NEW 2022 CONSTRUCTION
» High-quality construction completed in 2022
» Ample and easily accessible parking on large 1.9-acre site
» 21-foot pylon sign facing U.S. Route 40, Newfield’s primary thoroughfare
Property Description
SOLD
This Dollar General is easily accessible from U.S. Route 40/Harding Highway, Newfield’s main thoroughfare which leads to Atlantic City. The property is strategically located near State Route 55, Newfield’s primary north-south thoroughfare leading to Philadelphia (40,272 AADT).
The site serves 435,741 residents within a 15-mile radius, providing a large and consistent customer base for the site. The average annual household income is $99,789 within five miles and is projected to increase 12 percent by 2026, poising Newfield and Dollar General for significant concurrent growth.
