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Dollar General, Laramie, WY

Dollar General, Laramie, WY


Investment Summary

Price $1,600,000
Cap Rate
NOI
Lease Term 15 Years
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 2020
Building Size 8,990 SF
Lot Size ±0.87 Acres (38,016 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

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

15-YEAR 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
» New 2020 upgraded construction with corner entry

INVESTMENT-GRADE CREDIT 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 45 states and has plans for significant future growth

WYOMING RANKED #1 MOST TAX-FRIENDLY STATE IN U.S.
» No state income tax
» Combined state and local sales tax 3rd lowest in U.S.
» Gas tax well below national average

HIGH-TRAFFIC CORNER LOCATION NEAR LARGE SCHOOLS AND EMPLOYERS
» Excellent visibility and access to 15,860 vehicles per day directly in front of the location with 34,603 people living within five miles
» Immediate access to Interstate 80
» Three miles from Laramie’s largest employer, The University of Wyoming (12,627 students, 6,500 employees)
» Within five-mile radius of seven schools with combined enrollment of 3,036 students
» Within three miles of 17 hotels
» Only Dollar General location within 95 miles of the property

Property Description

SOLD

The property is conveniently located at the signalized corner of Snowy Range Road and South Colorado Avenue, with excellent visibility and access to 15,860 vehicles per day directly in front of the location. Traffic to the property is increased by the site’s location near Interstate 80, a major east-west thoroughfare connecting California and New Jersey. The property resides near multiple community hubs and amenities, and is within three miles of 17 hotels, including Fairfield Inn & Suites by Marriott Laramie, Hilton Garden Inn Laramie, Holiday Inn Laramie, and Hampton Inn Laramie.

The site is surrounded by a strong mix of national and local retailers, including Subway, McDonald’s, Safeway, Little Caesars, Chester’s Chicken, Exxon, Honda, and Best Western. Visibility is increased by the site’s proximity to large schools and universities, as it resides three miles from Laramie’s largest employer, The University of Wyoming (12,627 students, 6,500 employees), and within a five-mile radius of seven schools with a combined enrollment of 3,036 students. The location also benefits from being the only Dollar General location with 95 miles of the property.

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