Dollar General,
St. Joseph, MO Investment Summary
| Price | $1,375,000 |
| 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 | 9,100 SF |
| Lot Size | 1.22 Acres (53,143 SF) |
| Status | Sold |
| 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
» Upgraded construction featuring Dollar General’s latest corner-entry prototype
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
CENTRAL LOCATION WITH ACCESS TO MAIN THOROUGHFARES
» Immediate access to major Michigan thoroughfares U.S. Route 24 and Interstate 75 (combined 55,000 AADT)
» Gateway to Kansas (one mile from Kansas border)
» Population of 81,813 within a five-mile radius
NEAR LARGE EMPLOYERS AND COMMUNITY HUBS
» Beneficial proximity to St. Joseph’s largest employer, Mosaic Life Care at St. Joseph Medical Center (352 beds, 4,072 employees, $1.3 billion in total patient revenue)
» 3.5 miles from St. Jo Frontier Casino (generated $30+ million in local government revenue since opening)
» Four miles from Missouri Western State University (5,388 students)
» Within two-mile radius of nine schools with combined 5,761 students
Property Description
SOLD
The property is conveniently located on Messanie Street, with excellent visibility and access to 2,289 vehicles per day directly in front of the location. The site resides within two miles of major Missouri thoroughfares U.S. Route 36 and Interstate 229, which experience a combined high traffic count of 45,567 vehicles per day. The location is one mile from the Missouri/Kansas border and has immediate access to the Missouri River.
The property benefits from its central location near multiple large employers and community hubs. Visibility is increased by the property’s location near St. Joseph’s largest employer, Mosaic Life Care at St. Joseph Medical Center, which features 352 beds, 4,072 employees, and generates $1.3 billion in total patient revenue. The site is within a four-mile radius of St. Jo Frontier Casino (generated $30+ million in local government revenue since opening), and Missouri Western State University (5,388 students). The property resides within two miles of nine schools with a combined enrollment of 5,761 students.
