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Dollar General Market, Pleasant Hill, Missouri

Dollar General Market, Pleasant Hill, Missouri


Investment Summary

Price $1,735,446
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 2023
Building Size 12,480 SF
Lot Size 2.00 acres (87,120 SF)
Status Closed
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
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR ABSOLUTE NNN LEASE WITH A CORPORATE GUARANTY
» 15-year absolute NNN lease to growing retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» DG Market location 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 $34.2 billion
» Dollar General ranked #106 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

HIGH-VISIBILITY LOCATION WITH ACCESS TO THE THRIVING KANSAS CITY METROPOLITAN AREA
» Well-positioned along Missouri State Route 7 with excellent visibility and access to 17,496 vehicles per day
» 15,106 residents within a five-mile radius (14% growth since 2010)
» Affluent location with an average annual household income of $112,867 within one mile (projected 19% increase by 2027)
» Gateway to Kansas City (508,394 residents), the most populous city in Missouri
» Part of the Kansas City metropolitan area (2.2 million residents), one of the most significant economic hubs in the Midwest region of the U.S. with a GDP of over $135 billion

NEW 2023 CONSTRUCTION BUILT TO THE LATEST DOLLAR GENERAL MARKET PROTOTYPE
» High-quality 2023 construction built to latest Dollar General Market prototype
» Site features ample parking (51 total spaces) on a large two-acre parcel

Property Description

SOLD

» Prime Highway Frontage: The location boasts excellent visibility and sits along Missouri State Route 7, which has a daily traffic volume of 17,496 vehicles
» Thriving Neighborhood: The surrounding five-mile radius is home to 15,106 residents, a 14%growth rate since 2010
» Affluent Demographics: The area is considered upscale with an average annual household income of $112,867 within one mile. This number is projected to increase by 19% by 2027, reflecting a strong economy and positive growth potential
» Gateway to Bustling Kansas City: Located near Kansas City, the most populous city in Missouri, and a vibrant urban center
» Part of a Significant Economic Hub: The Kansas City metropolitan area, with over 2.2 million residents, is one of the most vital economic hubs in the Midwest region of the United States. The area boasts a robust GDP of over $135 billion, reflecting a thriving business environment
» Optimal Location for Business: The location’s exceptional position along a major highway, affluent demographics, and proximity to Kansas City makes it an ideal spot for businesses looking to tap into a growing market and capitalize on the area’s economic vitality

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