Dollar General,
Kankakee, IL Investment Summary
| Price | $1,770,000 |
| Cap Rate | |
| NOI | $96,462 |
| 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 | 9,026 SF |
| Lot Size | 2.144 Acres (93,393 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 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
NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Dollar General’s annual revenue exceeds $27.8 billion
» Dollar General Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
» 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
HIGH-TRAFFIC LOCATION IN POPULOUS AND GROWING AREA
» High-traffic location along State Route 17 with excellent visibility and access to 8,200 vehicles per day
» Central location near the confluence of several highly trafficked thoroughfares, including U.S. Route 52 (30,600 AADT) and Interstate 57 (27,200 AADT)
» 35,090 residents within a five-mile radius of the property, establishing a large customer base for the site
» Beneficial proximity to Riverside Medical Center and AMITA Health St. Mary’s Hospital Kankakee (combined 517 beds, 4,151 employees)
» Minutes from Kankakee High School, Taft Elementary School, Kennedy Middle School, Mark Twain Elementary School, Kankakee Junior High School, and Kankakee Community College (6,038 students combined)
NEW 2021 CONSTRUCTION
» High-quality construction completed in 2021
» Features Dollar General’s latest prototype
Property Description
SOLD
The property has a high-traffic location along State Route 115/West Jeffery Street. The site is also centrally located at the confluence of several highly trafficked thoroughfares, including U.S. Route 52 (30,600 AADT) and Interstate 57 (27,200 AADT). The property is located in an densely populated area, with 65,815 residents living within a five-mile radius of the site. Dollar General is poised to grow along with the location, with a projected eight percent average annual household income increase within five miles of the site in the next five years.
The site benefits from being centrally located within minutes of Channahon’s largest schools, including Kankakee High School, Taft Elementary School, Kennedy Middle School, Mark Twain Elementary School, Kankakee Junior High School, and Kankakee Community College (6,038
students combined). The property maintains a beneficial proximity to Kankakee’s primary healthcare providers, Riverside Medical Center and AMITA Health St. Mary’s Hospital Kankakee (combined 517 beds, 4,151 employees).
