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Dollar General, Lake Charles, LA

Dollar General, Lake Charles, LA


Investment Summary

Price $2,200,000
Cap Rate
NOI
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 5% rental increases every five (5) years
Year Built 2023
Building Size 10,640 SF
Lot Size 1.2 acres (52,272 SF)
Status Under Contract
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 INCREASES EVERY FIVE YEARS AND INVESTMENT-GRADE CORPORATE GUARANTY
» 15-year absolute NNN lease to major retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» 5% rental increases every five (5) years
» 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 $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 more than 19,147 locations in 47 states with plans for significant future growth

PROMINENT LOCATION IN LOUISIANA CITY WITH A SUBSTANTIALLY HIGH AVERAGE HOUSEHOLD INCOME
» Located along Nelson Road with 16,182 vehicles per day passing directly in front of the store
» Close proximity to Lake Charles Memorial Hospital for Women (54 beds; 2,700+ employees)
» Less than five miles from Louisiana’s biggest casino market: Golden Nugget (242-acre waterfront casino resort featuring 1038 guest rooms and suites housed in a 22-story tower) and L’Auberge du Lac Casino Resort (242-acre and 26-story hotel)
» Less than 5.5 miles from Prien Lake Mall (serves nearly 300,000 people and anchored by Dillard’s, Kohl’s, and JCPenney)
» Strong surrounding customer base with 72,982 residents within five miles of the property
» The surrounding community is affluent with an average household income over $125,000 within one mile of the property

HIGHLY UPGRADED 2023 CONSTRUCTION WITH LARGE FORMAT STORE MODEL
» High-quality upgraded 2023 construction with Dollar General’s Large Format Store Model
» Site features ample parking (35 total spaces)
» Building upgrades include full brick, wainscot, shutters, awnings, and corner entry

Property Description

SOLD

» Exceptional Visibility and Access: This Dollar General is located near the intersection of Nelson Road and West Gauthier Road (combined 19,631 AADT)
» Excellent Location: Situated less than 5 miles from 2 of Louisiana’s biggest casinos: Golden Nugget (242-acre waterfront casino resort featuring 1038 guest rooms and suites housed in a 22-story tower) and L’Auberge du Lac Casino Resort (242-acre and 26-story hotel)
» Dense and Affluent Area: Within a 1-mile radius of this property, the average household income is $125,597 while 72,982 residents live within a 5-mile radius
» Beneficial Proximity to A Major Retail Center: This site is less than 5.5 miles from Prien
Lake Mall (serves nearly 300,000 people and anchored by Dillard’s, Kohl’s, and JCPenney)
» New 2023 Construction: This brand new Dollar General is built to the latest store prototype and features 35 total parking spaces

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