Dollar General,
Porter, TX Investment Summary
| Price | $1,572,645 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Expenses And Management |
| Rental Increases | 10% Increase In Each Option |
| Year Built | 2019 |
| Building Size | 9,026 SF |
| Lot Size | 1.64 acres (71,438.4 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
LONG-TERM ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year NNN lease with three five-year option periods
» Rental increases of 10% in each option providing a hedge against inflation
» Absolutely no landlord responsibilities, providing an ideal passive investment for an out-of-area investor
CENTRAL LOCATION ON PORTER’S MAIN RETIAL CORRIDOR
» Located along Texas State Highway Loop 494 (9,440 AADT), which converges with U.S. Highway 59 (42,014 AADT)
» Centered around several schools including Bens Branch Elementary School, White Oak Middle School, Porter Elementary School, New Caney High School, Oakley Elementary School, Valley Ranch Elementary School, and New Caney Middle School, with a combined 6,000+ student entrollment
» Within walking distance of a Walmart-anchored center, also featuring The Home Depot, Popeyes, Walgreens, and Whataburger
» Other national retailers within minutes of Dollar General include Tractor Supply Company, Harbor Freight Tools, Burger King, Starbucks, McDonald’s, Pizza Hut, Sonic, Subway, LIttle Caesars, and more
LOCATED IN AFFLUENT COMMUNITY WITH ROBUST DEMOGRAPHICS
» High average household incomes exceed $99,000 within five miles
» Densely populated suburb of Houston with over 105,000 residents within five miles
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 15,000 locations in 44 states and has plans for significant future growth
Property Description
SOLD
The property is located on Texas State Highway Loop 494 with access and visibility to 9,440 vehicles per day directly in front of the property. Texas State Highway Loop 494 runs parallel to U.S. Highway 59, which experiences 79,011 vehicles per day. The property is within walking distance of Porter’s main retail hub with many national tenants including Walmart, Home Depot, Tractor Supply Company, Walgreens, AutoZone, Shell, McDonald’s, Whataburger, Starbucks, and many others.
The property is located in a densely populated suburb of Houston with over 105,000 residents living within five miles. The surrounding community is affluent with an average household income of $99,957 within five miles. The Houston MSA is the fifth largest MSA in the United States and also one of the fastest growing.
