Dollar General,
Lake Charles, LA Investment Summary
| Price | $2,455,000 |
| Cap Rate | 5.85% |
| NOI | $143,604 |
| 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 | Available |
| 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
» 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
