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DOLLAR GENERAL | CHINCOTEAGUE, VIRGINIA

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
Two (2) - Five (5) Year
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

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