DOLLAR GENERAL | BOONE, NORTH CAROLINA
INVESTMENT SUMMARY
Purchase Price
$2,469,818
Location
8979 NC Hwy 105 S
Cap Rate
5.50%
Annual Rent
$135,840.00
Building Size
10,640 SF
Land Area
1.54 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
10.75 Years
LEASE EXPIRATION
11/30/2032
Renewal Options
RENT INCREASES
10% at Options
Parking
32 Spaces
Year Built
2017
APN
1888-17-7325-000
Traffic Counts
11,260 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Approximately 11.25 Years Remaining in the Initial 15 Year Lease Term
- 2017 Build to Suit Construction - 10,640 SF
- Five (5) - Five (5) Year Option Periods with 10% Rental Increases
DOLLAR GENERAL PLUS STORE:
- 10,640 Square Feet
ABSOLUTE NNN LEASE | A TRUE COUPON CLIPPER:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
PROXIMITY FROM BOONE, NORTH CAROLINA:
- Hickory, North Carolina | 44 Miles
- Johnson City, Tennessee | 53 Miles
- Kingsport, Tennessee | 76 Miles
- Asheville, North Carolina | 85 Miles
- Winston-Salem, North Carolina | 86 Miles
- Charlotte, North Carolina | 117 Miles
- Knoxville, Tennessee | 158 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 1,145 Residents
- 1-Mile Average Household Income = $81,009
- 3-Mile Population = 3,360 Residents
- 3-Mile Average Household Income = $79,515
- 5-Mile Population = 7,949 Residents
- 5-Mile Average Household Income = $79,314
- 7-Mile Population = 32,310 Residents
- 7-Mile Average Household Income = $63,661
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
- 17,683 Stores in 46 States as of July 30, 2021
- Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
- Ranked #91 on the Fortune 500 List - Up 21 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 12 Consecutive Years)