DOLLAR GENERAL | CALLAO, VIRGINIA
INVESTMENT SUMMARY
Purchase Price
$1,040,000
Location
17364 Richmond Road
Cap Rate
7.86%
Annual Rent
$81,760.00
Building Size
9,100 SF
Land Area
1.09 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
2.75 Years
LEASE EXPIRATION
01/31/2024
Renewal Options
RENT INCREASES
10% at Options
Parking
32 Spaces
Year Built
2009
APN
18671001
Traffic Counts
6,098 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Approximately 2.75 Years Remaining in the Current Lease Term
- 2009 Construction - 9,100 SF
- Three (3) - Five (5) Year Option Periods with 10% Rental Increases
NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:
- Landlord Responsibilities Limited to Roof, Structure, HVAC & Parking Lot
- Tenant is Responsible for All Repairs Under $1,500 per Occurrence
- Tenant Contributes $376 Per Month for CAM Expenses
CALLAO, VIRGINIA:
- Callao is Located in Northumberland County - Northwest of Heathsville and East of Warsaw
- Subject Property is Strategically Located on Richmond Road - The Main Thoroughfare in Town
- Traffic Counts of Approximately 6,098 Vehicles Per Day
PROXIMITY TO OTHER MAJOR CITIES:
- Richmond, Virginia | 63 Miles
- Washington, D.C. | 100 Miles
- Norfolk, Virginia | 119 Miles
- Charlottesville, Virginia | 126 Miles
- Baltimore, Maryland | 131 Miles
- Dover, Delaware | 176 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 409 Residents
- 1-Mile Average Household Income = $67,152
- 3-Mile Population = 2,526 Residents
- 3-Mile Average Household Income = $68,693
- 5-Mile Population = 5,090 Residents
- 5-Mile Average Household Income = $72,242
- 7-Mile Population = 9,118 Residents
- 7-Mile Average Household Income = $68,018
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
- 17,177 Stores in 46 States as of January 29, 2021
- Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
- Ranked #112 on the Fortune 500 List - Up 7 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 11 Consecutive Years)
- In 2021 Dollar General Plans to Execute 2,900 Real Estate Projects, Including 1,050 New Store Openings, 1,750 Store Remodels, and 100 Store Relocations