Dollar General,
Houma, LA Investment Summary
| Price | $1,316,000 |
| Cap Rate | |
| NOI | $103,548 |
| 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 | 3% Rental Increase After Year 11 and 10% Rental Increases in Each Option Period |
| Year Built | 2014 |
| Building Size | 9,100 SF |
| Lot Size | 1.21 Acres (52,646 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 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 Louisiana-licensed real estate broker Beau Box Commercial Real Estate. |
Investment Highlights
CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in primary term and option periods, providing a hedge against inflation
ABSOLUTE TRIPLE NET LEASE
» 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
PRIME LOCATION IN LOUISIANA’S BAYOU REGION
» Less than seven miles from downtown Houma and the 230-bed Terrebonne General Medical Center
» Affluent demographics, with an average household income of $99,719 within a three-mile radius of the property
» The Bayou Region is consistently ranked one of the strongest regional economies in the nation
» Forbes ranked the region in the top 35% of metro areas for job growth in 2013
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is conveniently located on Bayou Black Drive, the primary route through the area. The property faces minimal competition from retailers in the immediate area and is close to important community amenities and employers, including Bayou Black Elementary and a natural gas compression plant operated by Williams Pipeline Company. The property also benefits from an affluent customer base, with an average household income of $99,719 within a three-mile radius and an average household income of $98,166 within a five-mile radius.
The property is located less than seven miles from downtown Houma, and is close to the 230-bed Terrebonne General Medical Center, the Houma-Terrebonne Airport, and Houma’s industrial region, which is home to some of the area’s largest employers. Southland Mall is just minutes away, as are notable national retailers, including Walmart Supercenter, Home Depot, Target, Lowe’s, Hobby Lobby, Academy Sports + Outdoors, and many others.
