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Dollar General, Gillette, WY

Dollar General, Gillette, WY


Investment Summary

Price $2,368,000
Cap Rate 6.25%
NOI $147,999
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 12,480 SF
Lot Size 1.58 acres (68,824 SF)
Status Under Contract
Lead Brokers Jared Goodman, CCIM, SIOR
Managing Director
1.970.690.4227
jared.goodman@cushwake.com
WY License #12307

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”)
» 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

STRONG LOCATION IN ENERGY-FOCUSED LOCAL ECONOMY
» Gillette, Wyoming is known as the “Energy Capital of the Nation” – Surrounded by industries focused on coal, oil, and gas production
» Local energy industry is the largest employer in the region – The Powder River Basin in Campbell County provides approximately 40% of the nation’s coal
» Gillette is centrally located in high tourist attraction area – Nearby Devils Tower, the nation’s first National Monument which receives over 500,000 annual visitors
» Property benefits from relatively affluent area – Average household income of nearly $100,000 within a 5 mile radius of the subject site

CENTRALLY POSITIONED AMONG COMMUNITY HUBS AND ADJACENT TO ELEMENTARY SCHOOL
» The property sits in close proximity to many important community centers, generating additional area traffic and more consistent customer visits
» Located directly across from Lakeview Elementary School (396 students), providing a reliable, everyday customer base
» 2.3 miles from Campbell County Memorial Hospital (232 beds; 1,200 total staff)
» Minutes from Gillette College (2,165 students), Thunder Basin High School (1,180 students), and Campbell County High School (1,152 students)
» Property is surrounded by local residential developments such as Heritage Village, Northland Village, Lakeland Hills, Elm Court Apartments, and Liberty Village Apartments & Townhomes
» Near recreation areas including Burlington Lake, Bicentennial Park, Campbell County Aquatic Center, Riders Baseball Field, and many other community attractions

BRAND NEW CONSTRUCTION IN INCOME TAX-FREE STATE
» High-quality construction built to Dollar General’s latest prototype
» No state income tax in Wyoming

Property Description

» Exceptional Visibility and Access: This Dollar General is located near the signalized intersection of North Gurley Avenue and East Warlow Drive (combined 18,450 AADT)
» Excellent Location: Situated directly across from Lakeview Elementary School (366 students) and close to high enrollment schools such as Gillette College (2,165 students), Thunder Basin High School (1,180 students), and Campbell County High School (1,152 students)
» Beneficial Proximity to Community Hubs: The site is situated near multiple community centers such as residential developments, local recreation areas including Burlington Lake, and nearby schools – all of these areas increase visitor traffic and visibility to the property
» Strong Demographics: 33,794 residents live within a 5-mile radius of this property, supported by an average household income of $98,771
» Near A National Monument: The property sits only one hour’s drive away from Devil’s Tower National Monument, the first in the nation which sees over 500,000 visitors annually, many of whom stay in Gillette during their visit
» High Traffic Volume: With energy production making up a majority of the jobs in the region, Gillette experiences high traffic volume from workers and tourists alike

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