Northport, AL - Dollar General

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, investment grade, corporate signed, Dollar General investment property located in Northport, AL (Tuscaloosa MSA). The tenant, Dollar General, Co., has under 10 years of firm term remaining with 3 (5-year) option periods left to extend. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with limited landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store with over 18,500 stores in operation. The asset, which was built in 2020, features a state-of-the-art design using high quality materials.

Dollar General is strategically located at the 3-way intersection of State Highway 69 and Tierce Patton Road, averaging a combined 14,800 vehicles passing by daily. State Highway 69 provides direct access into the Northport and Tuscaloosa city centers, making this a centralized location with easy commutes for both employees and customers. The nearby tenants include Publix, O’Reilly Auto Parts, McDonald’s, Taco Bell, among many others. In addition, the subject is the only variety store located within a 5+ mile radius, creating a large consumer draw for the site with virtually no competition. Dollar General is near several single-family communities, providing
a direct residential consumer base for the site. The 5-mile trade area is supported by over 7,400 residents and 420 daytime employees. Residents within 1 mile of the subject boast an affluent average household income of $122,157.

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Listing ID: a28TP000002GeYDYA0