Overview

Description

Westmore Group Inc. in collaboration with SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, newly built, corporate signed, Dollar general investment property located in Everton, MO. The tenant recently signed a brand new 15-year lease with 3 (5-year) options, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store with over 18,500 stores in operation. The building, which was completed early in 2023, features a state-of-the-art design using the highest-quality materials available.

The subject property is strategically located along U.S. Highway 160, providing clear visibility and access for the site. The asset is a quick 39-minute drive into Downtown Springfield via US Highway 160, providing direct assess into Missouri’s third largest city by population. The surrounding tenants include Handy Hut, Kenny’s Station, Everton Saddle Club, Stuff It Storage, and others. The surrounding regional tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure. In addition, the subject is the only variety store located within a 6-mile radius, creating a large consumer draw for the site with virtually no competition. Dollar General is near numerous single-family communities, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 1,500 residents and 110 daytime employees, and the local residents boast a healthy average annual household income of $73,112.

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