DOLLAR GENERAL,
Culver, OR Investment Summary
| Price | $2,071,000 |
| 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 | 9,100 SF |
| Lot Size | 1.24 Acres (54,014 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 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 |
Investment Highlights
CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in option periods, providing a hedge against inflation
ABSOLUTE TRIPLE NET LEASE
» 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 $25.6 billion
» Dollar General operates more than 15,000 locations in 44 states and has plans for significant future growth
NEW 2019 UPGRADED CONSTRUCTION
» Upgraded construction featuring brick facade
» Built to Dollar General’s exact specifications, demonstrating long-term commitment to the location
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is conveniently located on 1st Avenue, Culver’s primary thoroughfare and retail corridor. The property is close to well-known local retailers and is across from a Shell gas
station. The property has almost no competition as it is the only discount store in the area; the nearest dollar store is nine miles away in another city.
The property is centrally located in downtown Culver. The property is directly across from the Culver School District, which consists of three schools on a single 37-acre campus: Culver Elementary School, Culver Middle School, and Culver High School. The district has a total enrollment of 692 students and is one of Culver’s largest employers, with 110 employees. Additionally, the property is close to many of Culver’s industrial employers, including EartH2O, with 68 employees, and Mid-Columbia Lumber, with 78 employees. The property is also just minutes from Cove Palisades State Park and Lake Billy Chinook, which attract about a half million visitors a year.
