Dollar General,
St. Clair, MI Investment Summary
| Price | $1,293,000 |
| 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 | 2019 |
| Building Size | 9,026 SF |
| Lot Size | 2.12 Acres (92,347 SF) |
| Status | Under Contract |
| 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
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
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 45 states and has plans for significant future growth
HIGH-EXPOSURE LOCATION AND ACCESS TO MAIN THOROUGHFARES
» 67,000 residents within a 10-mile radius
» Minutes from major Michigan thoroughfare Interstate 94 (“The Bridge to Canada”)
» Five miles from St. Clair County International Airport
» Short drive to Canadian border
CENTRAL LOCATION TO MULTIPLE TOURIST ATTRACTIONS AND OUTDOOR RECREATION AREAS
» Central location between Lake Huron, Lake St. Clair, and Lake Erie (combined $3.7 billion annual economic impact in Southeast Michigan)
» Walking distance from Rattle Run Farms
» $98,563 average household income within one-mile radius
Property Description
SOLD
The property is conveniently located on Gratiot Avenue, which has excellent visibility and access to 67,000+ residents within a ten-mile radius of the location. The site resides less than two miles from major Michigan thoroughfare Interstate 94, which experiences a high traffic count of 29,604 vehicles per day and leads to nearby Ontario, Canada. The location is five miles from St. Clair County International Airport, which in addition to international flight services also offers flight training, aircraft rentals, and special occasion flights.
The property benefits from its central location near multiple tourist attractions and outdoor recreation areas. Visibility is increased by the property’s location between Lake Huron, Lake St. Clair, and Lake Erie (combined $3.7 billion annual economic impact in Southeast Michigan). The location is within walking distance of Rattle Run Farms, a 200-acre equestrian and event center that’s open year-round. The site is supported by an affluent surrounding demographic, with an average household income of $98,563 within a one-mile radius of the property.
