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Dollar General, Gillette, WY

Dollar General, Gillette, WY


Investment Summary

Price $1,964,000
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 10% Rental Increases Every Five (5) Years In Option Periods
Year Built 2022
Building Size 10,542 SF
Lot Size ±1.50 Acres (65,340 SF)
Status Sold
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

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY TO GROWING RETAIL TENANT
» New 15-year Absolute NNN lease to growing retail tenant
» Corporate Guaranty (NYSE: “DG”)
» 10% rental increases in option periods, providing a hedge against inflation
» No landlord management making this an investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $34.2 billion
» Dollar General Ranked #91 on Fortune 500 list in 2021 (the 21-place jump into the Top 100 reflects the company’s exceptional growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 18,130 locations in 46 states and has plans for significant future growth

STRATEGIC TOURIST-DRIVEN LOCATION AT THE CENTER OF GILLETTE
» Located along South Douglas Highway/Highway 59 on Shoshone Avenue with excellent visibility and access to a combined 18,281 vehicles per day near the site
» Tourist-driven location with 27 hotels, with 2,139 combined rooms, all within five miles of the site
» 3.5 miles from Campbell County Memorial Hospital (90 beds and 150-bed long-term facility, 1,100+ employees)
» Minutes from Gillette College (2,165 students), Thunder Basin High School (1,161 students), and Buffalo Ridge Elementary School (393 students)
» 36,890 residents reside within a five-mile radius
» High average annual household income average of $101,183 within three miles (projected 9% increase by 2027)

NEW 2022 CONSTRUCTION
» High-quality 2022 construction built to Dollar General’s latest prototype
» Prominent pylon sign attracting additional traffic to the site
» Wyoming is one of the most tax friendly states

Property Description

Sold
» Dollar General is located along South Douglas Highway/Highway 59 on Shoshone Avenue with excellent visibility and access to a combined 18,281 vehicles per day near the site
» The property is close to well-attended schools, including Gillette College (2,165 students), Thunder Basin High School (1,161 students), and Buffalo Ridge Elementary School
» The site is situated near a tourist-driven location with 27 hotels (2,139 combined rooms) all within five miles of the site
» 3.5 miles from Campbell County Memorial Hospital (90 beds and 150-bed long-term facility, 1,100+ employees)
» One hour away from Devils Tower, the nation’s first National Monument (500,000 annual visitors)

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