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Dollar General, Libby, MT

Dollar General, Libby, MT


Investment Summary

Price $2,478,000
Cap Rate 5.85%
NOI $144,934
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 3.88 acres (169,056 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 CORPORATE GUARANTY
» 15-year absolute NNN lease to major retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Dollar General Market offers a wide range of products, including groceries, household essentials, personal care items, and much more
» 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

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

EXCELLENT LOCATION NEXT TO HIGH SCHOOL AND NO NATIONAL CREDIT GROCERY COMPETITION
» Located at the intersection of U.S. Route 2 and Education Way (combined 11,061 AADT)
» Prominently located across from Libby High School (340 students)
» As the only Dollar General location in the city, this market will be an extremely attractive grocery store option for Libby residents
» Close proximity to many of Wheatland’s major community hubs including Flathead Valley Community College – Lincoln County Campus and Venture Inn and Restaurant (Northwest Montana’s finest place to stay, featuring a full service restaurant, pool and hot tub, and unlimited outdoor recreation)
» Community of 8,191 residents supported by an average annual household income of $62,139 within a five-mile radius of the site
» Projected population and income increases within 1-, 3-, and 5-mile radii, poising Libby and Dollar General Market for steady concurrent growth

NEW 2023 HIGH-QUALITY CONSTRUCTION
» High-quality upgraded 2023 construction built to latest Dollar General Market prototype
» Large 3.88-acre site features ample parking (50 total spaces)

Property Description

» New 15-Year Absolute NNN Lease: Guaranteed by Dollar General Corporation and no landlord management of this property, proving to be an ideal investment opportunity for a passive investor
» High-Visibility Hard Corner Location: This Dollar General Market is located at the intersection of U.S. Route 2 / 9th Street West and Education Way (combined 11,061 AADT)
» Essential Retail Option: This Dollar General Market is the only location in Libby and one of the only grocery store options in the area, allowing for no competition and increased customer loyalty
» Ideal Nearby Customer Base: The property is situated across from Libby High School (340 students), providing increased convenience for students and families in Libby
» Growing Demographics: The population count and average annual household income within 1, 3, and 5-mile radii are projected to increase by 2028, potentially leading to a wider customer base as well as increased customer spending
» New 2023 Construction: The location features a high-quality upgraded 2023 construction along a vital northern corridor, ideal for capturing passing residents and visitors

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