Investment Summary
Price | $2,770,000 |
Cap Rate | |
NOI | |
Lease Term | 15 years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 10% rental increases every five (5) years in option periods |
Year Built | 2023 |
Building Size | 12,668 SF |
Lot Size | 2.46 acres (107,158 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 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
NO COMPETING DOLLAR GENERAL STORE IN WYOMING CITY WITH A SUBSTANTIALLY HIGH AVERAGE HOUSEHOLD INCOME
» Located at the intersection of State Highway 312 / South Street and 16th Street with access to more than 12,000 vehicles per day
» Prominent visibility as seen from the nearby Interstate 25 (5,830 AADT)
» Only Dollar General location in Wheatland – next closest location is 59 miles away
» Close proximity to many of Wheatland’s major community hubs including West Elementary School (186 students), Wheatland Middle School (181 students), and Wheatland’s only hospital Platte County Memorial Hospital (25 beds and 158 employees)
» Affluent community with an average household income over $114,000 within 1 mile ofthe property and projected to grow by more than 14% over the next five years, poising Wheatland and Dollar General for strong concurrent growth
NEW 2023 HIGH-QUALITY CONSTRUCTION
» High-quality upgraded 2023 construction built to latest Dollar General Market prototype
» Large 2.6-acre site features ample parking (50 total spaces)
Property Description
SOLD
» 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
» Exceptional Visibility and Access: This Dollar General Market has exposure to the nearby Interstate 25 and is located near the signalized four-way intersection of State Highway 312 / South Street and 16th Street (combined 12,004 AADT)
» Exclusive Location: This Dollar General Market is the only location in Wheatland (next closest Dollar General store is 50+ miles away), allowing for no competition and increased customer loyalty
» Affluent Community: The average household income within 1, 3, and 5-mile radii is more than $112,00, leading to increased customer spending and generating higher sales
» Surrounded by Major Traffic Drivers: The site is located less than 1 mile away from major traffic drivers such as Platte County Memorial Hospital (25 beds; 158 employees), West Elementary School (186 students), and Wheatland Middle School (181 students)
» Upgraded Construction: The location features a high-quality upgraded 2023 construction near major thoroughfares, ideal for capturing passing commuters