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Dollar General, Riverton, WY

Dollar General, Riverton, WY


Investment Summary

Price $2,220,000
Cap Rate 6.00%
NOI $133,194
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 10,640 SF
Lot Size 0.90 acres (39,204 SF)
Status Available
Lead Brokers Jared Goodman, CCIM, SIOR
Managing Director
1.970.690.4227
jared.goodman@cushwake.com
WY License #12307

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”; over $37B in 2023 revenue)
» 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 a passive or out-of-area investor

STRONG LOCATION IN HIGH TOURISM REGION
» Riverton, Wyoming is surrounded by natural attractions that generate substantial visitor traffic each year such as Sinks Canyon State Park (400,000 annual visitors)
» Largest town in the vicinity of the Wind River Reservation (population of nearly 30,000), the tribal lands of both the Eastern Shoshone and Northern Arapaho tribes
» Many ecotourists utilize Riverton as a staging area for their travels due to its central location between many attractions such as the Wind River Reservation, Sinks Canyon State Park, Ocean Lake, Boysen State Park, and many others

SIGNALIZED HARD-CORNER LOCATION WITH FULL ACCESS AND VISIBILITY TO 22,000 VEHICLES PER DAY
» Located in the center of Riverton’s population, 19,773 people live within a 15-mile radius of the subject property
» Property sees benefits from stable local population – Average household income of $76,879 projected to increase by more than 9% over the next 5 years
» Only a few miles away from Central Wyoming College (2,165 students), providing the property with increased traffic from students, faculty, and staff
» Dollar General is only minutes away from local community hubs such as the Riverton Fair Grounds, Riverton City Park, Riverton High School, and other community hotspots

BRAND NEW CONSTRUCTION IN INCOME TAX-FREE STATE
» 2023 construction built to Dollar General’s latest prototype
» Large pylon sign located in front of store to generate additional visibility and traffic
» Larger footprint building (10, 680 SF) to accomodate for more convenience store-type items
» No state income tax in Wyoming

Property Description

» Exceptional Visibility: This Dollar General is positioned along South Federal Blvd near East Main St, which collectively see over 31,220 vehicles travel along them each day
» Excellent Location: The property sits at a four-way signalized intersection only a few minutes from the heart of Riverton’s city center and the densest population center in the region
» Reliable Customer Base: 35 miles from Dollar General is the Wind River Reservation (2.2 million acres of land that is home for the Eastern Shoshone and Northern Arapaho Tribes; approx. 30,000 population), serving as a source of constant traffic to the business and the surrounding retailers
» Beneficial Proximity to Schools: Central Wyoming College and Riverton High School are located less than three miles from the store, providing consistent traffic from the combined nearly 3,000 students that attend these schools
» Dense Retail Corridor: The property sits along the busiest retail corridor in Riverton with other national retailers located in the vicinity including Walmart, Murdoch’s Ranch & Home Supply, Ace Hardware, McDonald’s, Walgreens, and many others
» High Traffic Volume: Riverton, WY is a very popular staging area for the nearly 400,000 visitors who enjoy the scenic Sinks Canyon State Park each year

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