Investment Summary
Price | $1,641,000 |
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 Options |
Year Built | 2019 |
Building Size | 10,566 SF |
Lot Size | 2.4 acres (104,544 SF) |
Status | Sold |
Lead Brokers | 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 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 |
Investment Highlights
NEW 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
» Relocated from neighboring building, demonstrating a commitment to the location
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 $25.6 billion
» Dollar General operates more than 15,370 locations in 44 states and has plans for significant future growth
HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Excellent visibility and access to 7,213 vehicles per day directly in front of the property
» Minutes from major Pennsylvania north-south thoroughfare Interstate 380 (27,472 AADT)
» Near North Pocono Middle School, Arthur T. Howells Middle School, and Moscow Elementary Center, which have a combined enrollment of over 1,500 students
CENTRAL LOCATION TO MULTIPLE TOURIST ATTRACTIONS AND OUTDOOR RECREATION AREAS
» Within minutes of Maple Lake, Six Springs Creek, Covington Park, and Marjon Golf Course—a 9-hole, par 35 course
» Easy access to seven State Game Land sites, attracting significant amounts of hunting, fishing, hiking, and camping recreationists
» Common thoroughfare for locals and tourists visiting the Pocono Mountains, which has an average annual impact of $1 billion on the local economy
LOCATED IN AFFLUENT AREA WITH LOW COMPETITION
» Average household income of $113,275 within a one-mile radius
» Nearest Dollar General is over 30 minutes away
Property Description
SOLD
The property is located on 320 South Main Street, with excellent visibility and access to 7,213 vehicles per day directly in front of the location. It is minutes from Interstate 380 (27,472 AADT) and Interstate 84 (19,904 AADT). The property is surrounded by a mixture of well-established local businesses, recreational establishments, and communal meeting areas that cater to locals and tourists alike.
The site resides within a short distance of Maple Lake, Six Springs Creek, Covington Park, and Marjon Golf Course—a 9-hole, par 35 course. The property is centrally located at the confluence of seven different State Game Land sites, attracting significant amounts of outdoor recreationists yearround. Visibility is increased by its proximity to the Pocono Mountains, a nationally recognized and premiere resort destination that has an average annual impact of $1 billion on the local economy. The property also benefits from an affluent surrounding population, with an average household income of $113,275 within a one-mile radius of the location.