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Dollar General, Guernsey, WY

Dollar General, Guernsey, WY


Investment Summary

Price $1,873,000
Cap Rate 6.35%
NOI $118,917
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 10,566 SF
Lot Size 1.10 acres (47,916 SF)
Status Available
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”; 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

PRIME LOCATION ON MAIN GUERNSEY THOROUGHFARE
» High-visibility location on U.S. Route 26, the main thoroughfare in Guernsey, with access to 4,932 AADT directly in front of the site
» Affluent location with an average annual household income of $93,336 within one mile of the site (projected 13% increase by 2028)
» Located just three miles from Camp Guernsey Joint Training Center, an NGB Level 2 Joint Training Center consisting of more than 78,000 acres of maneuver area, training ranges, and 64 square miles of air space which provide for combined arms training using multiple scenarios over varied terrain (2,400+ active personnel)
» Located three miles south of Guernsey State Park, a popular recreational area that attracts visitors to enjoy it’s hikes, aquatic activities, fishing, hunting, and more

BRAND NEW CONSTRUCTION IN INCOME TAX-FREE STATE
» 2023 construction built to Dollar General’s latest prototype
» Large pylon sign located in front of store to generate additional visibility and traffic
» Larger footprint building (10,566 SF) to accommodate for more convenience store-type items
» No state income tax in Wyoming

Property Description

» This Dollar General boasts excellent visibility on U.S. Route 26, the main thoroughfare in Guernsey, with access to 4,932 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$93,336 within one mile of the site (projected 13% increase by 2028)
» The property is located just three miles from Camp Guernsey Joint Training Center, a NGB Level 2 Joint Training Center consisting of more than 78,000 acres of maneuver area, training ranges, and 64 square miles of air space which provide for combined arms training using multiple scenarios over varied terrain (2400+ active personnel)
» The site sits just three miles south of Guernsey State Park, a popular recreational area that attracts visitors from all over to enjoy it’s hikes, aquatic activities, fishing, hunting and more
» The property is located less than a mile from Guernsey-Sunrise High School, the largest public school in the area

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