Kiefer, OK - Dollar General

521 E. Indiana Avenue, Kiefer, OK

$1,168,000

Price

7%

Cap Rate

$81,743

NOI

Overview
Cap Rate
7%
NOI
$81,743
Building Size
9,238 sqft
Occupancy
100%
Year Built
2011
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 leased, corporate guaranteed, Dollar General investment property located in Kiefer, Oklahoma. The tenant, Dolgencorp, LLC has 7 years remaining on their initial term with 5 (5-year) options to extend. The lease features a 3% rental increase in June 2021 and 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 and is absolute NNN with zero landlord responsibilities.

Dollar General is strategically located at the signalized, hard corner intersection of Linda Street and East Indiana Avenue (6,100 VPD), the primary thoroughfare for the city of Kiefer. Additionally, the site is less than 0.5 miles from U.S. Highway 75 Alternate, averaging 5,400 vehicles passing by daily. The asset is equipped with a large pylon sign providing excellent visibility along East Indiana Avenue. Dollar General is the only national tenant servicing the city of Kiefer, limiting competition. The 5-mile trade area is supported by a population of over 40,000 residents. The average household income is $82,048 within the 1-mile area.


Location
Gallery