Dollar General,
Erie, MI Investment Summary
| Price | $1,340,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years With 14 Years Remaining |
| Lease Type | Absolute NNN, 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 | 2018 |
| Building Size | 9,100 SF |
| Lot Size | 1.36 Acres (59,242 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 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 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM 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
» 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 $27.8 billion
» Dollar General operates more than 16,350 locations in 44 states and has plans for significant future growth
HARD-CORNER LOCATION AT SIGNALIZED FOUR-WAY INTERSECTION
» Excellent visibility to 11,300 vehicles per day at the intersection of Luna Pier Road and South Dixie Highway
» Immediate access to major Michigan thoroughfares U.S. Route 24 and Interstate 75 (combined 67,716 AADT)
» Gateway to Toledo, Detroit, and Ann Arbor (six miles from Ohio border)
CENTRAL LOCATION TO MULTIPLE TOURIST ATTRACTIONS AND COMMUNITY HUBS
» 2.5 miles from Lake Erie ($2.7 billion annual economic impact in Southeast Michigan)
» Walking distance from Mason Consolidated Schools (combined 1,335 students, 85 teachers)
» Three miles from Michigan DNR Public Hunting Area
» Close proximity to City of Luna Pier Public Beach and Pier
Property Description
SOLD
The property is conveniently located at the signalized four-way intersection of Luna Pier Road and South Dixie Highway, with visibility to a combined 11,300 vehicles per day directly in front of the location. The site resides within two miles of major Michigan thoroughfares U.S. Route 24 and Interstate 75, which experience a combined high traffic count of 67,716 vehicles per day. The location serves as a gateway to several highly populated areas, including Toledo, Detroit, and Ann Arbor. The site is six miles from the Ohio border.
The property benefits from its central location near multiple tourist attractions and community hubs. Visibility is increased by the property’s location 2.5 miles from Lake Erie, which has a $2.7 billion annual economic impact in Southeast Michigan. The site is within walking distance of Mason Consolidated Schools, featuring a combined 1,335 students and 85 teachers. The property also resides within three miles of popular tourist attractions Luna Pier Public Beach and Pier and a Michigan Department of Natural Resources Hunting Ground.
