DOLLAR GENERAL | IOWA, LOUISIANA

Purchase Price
$831,885
Location
305 E Miller Ave
Cap Rate
8.00%
Annual Rent
$66,550.86
Building Size
9,100 SF
Land Area
0.735 Acres
Ownership
Fee Simple
Lease Type
NN
Term Remainning
3 Years
LEASE EXPIRATION
03/31/2024
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
7% at Options
Parking
37 Spaces
Year Built
2004
APN
01362630A
Traffic Counts
2,507 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • Approximately 3 Years Remaining in the Current Term
  • 2004 Construction Build to Suit Dollar General
  • Three (3) - Five (5) Year Option Periods with 10% Rental Increases
 

NN LEASE:

  • Landlord Responsibilities Limited to Roof, Parking Lot & HVAC
  • All HVAC Units Were Replaced in 2015
  • Tenant is Responsible for Minor Repairs Costing Less than $750 Per Occurrence
  • Tenant is Responsible for the First $750 of Any Major Repairs
  • This Location is Part of Dollar General's National Insurance Program
 

HIGH VOLUME STORE:

  • Rare Lease Structure Which Includes a Percentage Rent Clause
  • Dollar General Consistently Exceeds the Percentage Rent Threshold Set in the Lease
 

PROXIMITY TO OTHER CITIES:

  • Lake Charles, Louisiana | 14 Miles - 17 Minute Drive
  • Lafayette, Louisiana | 63 Miles - 1 Hour Drive
  • Alexandria, Louisiana | 87 Miles - 1 Hour: 31 Minute Drive
  • Baton Rouge, Louisiana | 114 Miles - 1 Hour: 46 Minute Drive
  • Houston, Texas | 156 Miles - 2 Hour: 24 Minute Drive
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile Population = 1,893 Residents
  • 1-Mile Average Household Income = $80,135
  • 3-Mile Population = 3,931 Residents
  • 3-Mile Average Household Income = $79,873
  • 5-Mile Population = 7,464 Residents
  • 5-Mile Average Household Income = $82,049
  • 7-Mile Population = 11,981 Residents
  • 7-Mile Average Household Income = $84,608
 

TENANT:

  • Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
  • 17,266 Stores in 46 States as of February 26, 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)

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