Dollar General,
Antwerp, OH Investment Summary
| Price | $1,177,500 |
| Cap Rate | 7.35% |
| NOI | $86,545 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Maintenance, and Repair, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases in Each Option Period |
| Year Built | 2013 |
| Building Size | 9,100 SF |
| Lot Size | 1.25 Acres (54,480 SF) |
| Status | Closed |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Cushman and Wakefield Inc. LIC. # 00616335 This property is listed in conjunction with Ohio-licensed real estate broker RESG Companies. |
Investment Highlights
CORPORATE GUARANTEED, ABSOLUTE TRIPLE NET LEASE
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» 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 $21.9 billion
» Dollar General operates 14,000 locations in 43 states and has plans for significant future growth
CENTRAL LOCATION WITH FREEWAY VISIBILITY
» Excellent location on one of Antwerp’s primary thoroughfares
» Visibility from U.S. Highway 24, the main route connecting Antwerp to the Fort Wayne and Toledo metropolitan areas
» Within walking distance of downtown Antwerp and Antwerp High School
» Near Antwerp’s industrial park, home to some of the city’s largest employers
» Close to several parks and the Maumee River, a state-designated scenic river
STRONG CUSTOMER BASE WITH MINIMAL COMPETITION
» Minimal competition from retailers in Antwerp and the surrounding area
» Attracts customers from a large trade area, providing a strong customer base for Dollar General
Property Description
SOLD
The property is conveniently located along Route 49, one of Antwerp’s primary thoroughfares. Located immediately off of the freeway, the property is visible to 9,140 vehicles per day on U.S. Highway 24, which is the main route connecting Antwerp to the Fort Wayne and Toledo metropolitan areas. The property is centrally located within walking distance of downtown Antwerp and Antwerp High School. The property is also near Antwerp’s industrial park, which is home to some of the city’s largest employers. Several recreational areas are also located nearby, including Riverside Park, which lies next to the scenic Maumee River.
The property faces minimal competition from retailers in Antwerp and the surrounding area, and therefore attracts customers from a large trade area, providing a strong customer base for Dollar General.
