Dollar General,
Glenrock, WY Investment Summary
| Price | $1,895,000 |
| Cap Rate | |
| NOI | $99,445 |
| 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 In Option Periods |
| Year Built | 2021 |
| Building Size | 9,100 SF |
| Lot Size | 2.04 Acres (88,862 SF) |
| Status | Sold |
| Lead Brokers | Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Upgraded construction with no landlord management
» Ideal investment opportunity for an out-of-area investor
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $25.6 billion
» Dollar General operates more than 15,000 locations in 44 states and has plans for significant future growth
STRATEGIC LOCATION
» Five-mile average household income of $78,960
» Two miles from I-25 (9,056 AADT) and 25 minutes from Downtown Casper (58,446 residents)
» Strategically located on East Birch Street, one of the main east/west arterials of Glenrock
BENEFICIAL PROXIMITY TO SCHOOLS AND COMMUNITY HUBS
» Across the street from Glenrock High School (258 students) and Glenrock Elementary School (80+ students)
» 1.2 miles from Glenrock Recreation Center and Downtown Glenrock, providing increased traffic to the site
» Only dollar store within 27 miles, providing limited competition
Property Description
SOLD
The property is located on East Birch Street, the main east/west arterial for Glenrock, and is two miles from Interstate 25, with a daily traffic count of 9,056 vehicles. The location resides 1.2 miles from downtown Glenrock, with a population of 3,677 residents, and 25 miles from Downtown Casper, with a population of 58,446 residents. The site has a five-mile average household income of $82,702.
The property is surrounded by schools and community hubs, including Glenrock High School and Glenrock Elementary School, with a combined student population of over 300 students. The site is home to the only dollar / discount store within 27 miles, providing very limited competition.
