DOLLAR GENERAL | CLEAR SPRING, MARYLAND

Purchase Price
$1,491,667
Location
13120 Clear Spring Road
Cap Rate
6.00%
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
Three (3) - Five (5) Year
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

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