Overview

Description

We are pleased to present this new 10,640 SF. Dollar General Plus store located in Nitro, West Virginia - part of the Charleston Market. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened to the public in August 2023

This Dollar General is highly visible as it is strategically positioned on 1st Avenue which sees 12,472 cars per day. It sits surrounded by residential & other national tenants. The 5 mile population from the site is 46,079 while the 1 mile average household income is $56,084 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.50% cap rate based on NOI of $107,409.

Highlights

• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Charleston WV Market | Opened in August 2023
• RARE 5% RENT BUMPS EVERY 5 YEARS!
• 2023 BTS Plus Size Construction
• 5 (5 Year) Options | 5% Increases At Each Option
• One Mile Household Income $56,084
• Five Mile Population 46,079
• 12,472 VPD on 1st Avenue | Surrounded by Residential & National Tenants
• Investment Grade Dollar Store With "BBB" Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth,

Documents

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