Madison, IL - Dollar General

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, freestanding, Dollar General investment property located in Madison, Illinois (St. Louis MSA). The tenant has just under 4 years remaining in their initial lease term with 4 (5-year) options to extend. The lease features 5% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Headquartered in Goodlettsville, TN, Dollar General is a nationally recognized brand with over 18,000 locations.

Dollar General is strategically located at the signalized, hard corner intersection of McCambridge Avenue/State Highway 203 and 3rd Street, averaging more than 13,800 vehicles passing by daily. The property is ideally situated just 2.5 miles north of the on/off ramps for Interstate 55 (68,800 VPD), the primary east/west highway traveling through Madison and into the heart of Downtown St. Louis. It is also just 2 miles north of the World Wide Technology Raceway; the raceway hosted the NASCAR Cup Series in June of 2022. There is significant expansion happening around the raceway to prepare for the event. The site is equipped with a large pylon sign, creating excellent visibility along both cross-streets. In addition, the site is positioned just 7.5 miles northeast of Downtown St. Louis, the largest metropolitan area in Missouri and the 19th largest in the United States with over 3 million people. The 5-mile trade area is supported by nearly 106,000 residents and 103,000 daytime employees with an average household income of $50,100.