DOLLAR GENERAL | CHINCOTEAGUE, VIRGINIA
INVESTMENT SUMMARY
Purchase Price
$1,340,000
Location
4360 Pension St
Cap Rate
7.01%
Annual Rent
$93,495.96
Building Size
9,202 SF
Land Area
1.21 Acres
Ownership
Fee Simple
Lease Type
NN
Term Remainning
7.75 Years
LEASE EXPIRATION
07/31/2032
Renewal Options
RENT INCREASES
10% at Options
Parking
23 Spaces
Year Built
1992
APN
030A6A000000300
Traffic Counts
8,500 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- 7.75 Years of Remaining Term
- Two (2) - Five (5) Year Option Periods with 10% Rental Increases
RECENT LEASE EXTENSION:
- In November 2024, Dollar General Extended the Lease Through July 31, 2032
STRONG OPERATING HISTORY - EST. 1992:
- Dollar General Has Been Operating at this Location for 30+ Years
- Since 1992, Dollar General Has Extended the Eight (8) Times
BRAND NEW ROOF:
- Entire Roof was Replaced in November 2022
- 30-Year Warranty
STRONG PLACER AI DATA - 204,000 VISITS:
- Nationwide (1,322/18,880) = Top 7%
- Statewide (8/456) = Top 2%
- 15-Mile Radius = Top Store
RECENT REMODEL - APRIL 2024:
- Tenant Recently Remodeled the Store at their Sole Cost and Expense
PROXIMITY FROM CHINCOTEAGUE:
- Ocean City, MD | 56 Miles
- Rehoboth Beach, DE | 82 Miles
- Wilmington, DE | 161 Miles
- Baltimore, MD | 169 Miles
- Washington, DC | 170 Miles
- Richmond, VA | 189 Miles
- Philadelphia, PA | 192 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile: 2,713 Residents | $117,112 Average Household Income
- 3-Mile: 4,681 Residents | $109,818 Average Household Income
- 5-Mile: 5,579 Residents | $107,658 Average Household Income
- 7-Mile: 8,952 Residents | $101,898 Average Household Income
TENANT:
- Dollar General Corporation (NYSE: "DG")
- Strong Investment Grade Credit Rating of "BBB" by Standard & Poor's
- Ranked #111 on the Fortune 500 List (2024)
- 20,523 Stores in 48 States