Columbus, OH - Dollar General

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, investment grade (S&P: BBB), Dollar General investment property located in Columbus, Ohio. The tenant, Dolgen Midwest, LLC, has over 8 years remaining in their initial term with 4 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed by Dollar General Corporation (NYSE: DG) and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. As of February 2023, Dollar General Corporation operates more than 19,100 convenient stores in 47 states in the United States. Dollar General proved to be an incredible e-commerce and pandemic resistant tenant, paying rent each and every month while reporting increased same-store sales of 12.2% for the fiscal year Q3 2020 compared to Q3 2019.

Dollar General is strategically located at the signalized, hard corner intersection of Sullivant Avenue and S Wilson Road, averaging a combined 49,000 vehicles passing by daily. The property benefits from excellent visibility via significant street frontage and a large monument sign. The asset is ideally situated just 1 mile south of Consumer Square West (356,515 SF) and Great Western Shopping Center (83,764 SF), retail centers that significantly increasing consumer draw to the immediate trade area. The surrounding trade area is home to a variety of national/credit tenants including The Home Depot, Walmart Supercenter, Lowe’s Home Improvement, Kroger, Dollar Tree, and more. In addition, the subject property is within close proximity to Hollywood Casino Columbus (400,000 SF), the biggest casino in Ohio with 10,000 daily visitors and over 3.6 million visitors annually. The 5-mile trade area is supported by nearly 250,300 residents and 132,400 daytime employees with an average household income of $90,264.