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DOLLAR GENERAL | CALLAO, VIRGINIA

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
Three (3) - Five (5) Year
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

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