DOLLAR GENERAL | CLEAR SPRING, MARYLAND
INVESTMENT SUMMARY
Purchase Price
$1,440,000
Location
13120 Clear Spring Road
Cap Rate
6.21%
Annual Rent
$89,500.00
Building Size
9,100 SF
Land Area
1.53 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
15 Years
LEASE EXPIRATION
12/31/2035
Renewal Options
RENT INCREASES
10% at Options
Parking
40 Spaces
Year Built
2020
APN
04-003500
Traffic Counts
2,687 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Brand New Construction
- 2020 Construction Build to Suit Dollar General - 9,100 SF
- 15 Year Initial Lease Term
- Three (3) - Five (5) Year Option Periods with 10% Rental Increases
NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:
- Landlord Responsibilities Limited to Roof (Under Warranty), Parking Area (Capital Expenditures Only) and Structure
- Roof is Under Warranty for a Period of 25 Years
- Tenant is Responsible for Maintaining, Repairing & Replacement of HVAC Units
- Tenant is Responsible for Maintenance & Repair of the Parking Area (*Landlord is Responsible for Capital Expenditures to Parking Area)
- This Location Is Apart of Dollar General's National Insurance Program
PROXIMITY TO OTHER CITIES:
- Hagerstown, Maryland | 12 Miles
- Washington, D.C. | 82 Miles
- Baltimore, Maryland | 85 Miles
- Pittsburgh, Pennsylvania | 162 Miles
- Richmond, Virginia | 182 Miles
- Philadelphia, Pennsylvania | 187 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 645 Residents
- 1-Mile Average Household Income = $83,030
- 3-Mile Population = 3,285 Residents
- 3-Mile Average Household Income = $83,064
- 5-Mile Population = 11,900 Residents
- 5-Mile Average Household Income = $80,247
- 7-Mile Population = 27,294 Residents
- 7-Mile Average Household Income = $78,911
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
- 17,000 Stores in 46 States as of November 14, 2020
- Dollar General Achieved Their 30th Consecutive Year of Positive Same-Store Sales Growth in 2019
- 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