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DOLLAR GENERAL | LOOKOUT, WEST VIRGINIA

Purchase Price
$1,340,000
Location
20 Zickafoose Road
Cap Rate
7.00%
Annual Rent
$93,800.00
Building Size
9,014 SF
Land Area
1.63 Acres
Ownership
Fee Simple
Lease Type
ABSOLUTE NNN
Term Remainning
11 Years
LEASE EXPIRATION
12/31/2032
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
10% at Options
Parking
37 Spaces
Year Built
2017
APN
1-52R-11
Traffic Counts
2,775 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE GUARANTEED LEASE:

  • Approximately 11 Years Remaining in the Initial 15 Year Lease Term
  • 2017 Construction - 9,100 SF
  • Three (3) - Five (5) Year Option Periods with 10% Rental Increases
  • Wide Profile Building Type for Flexible Future Use & Universal Applications
 

A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:

  • Absolute NNN Lease with ZERO Management Responsibilities
  • Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
  • Ideal, Management-Free Investment for an Out-of-State, Passive Investor
 

PROXIMITY TO MAJOR CITIES:

  • Beckley, West Virginia | 33 Miles
  • Charleston, West Virginia | 57 Miles
  • Roanoke, Virginia | 131 Miles
  • Morgantown, West Virginia | 145 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 3-Mile Population = 762 Residents
  • 3-Mile Average Household Income = $75,750
  • 5-Mile Population = 1,701 Residents
  • 5-Mile Average Household Income = $71,888
  • 7-Mile Population = 4,401 Residents
  • 7-Mile Average Household Income = $67,845
 

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 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 - 1,050 New Store Openings, 1,750 Store Remodels, and 100 Store Relocations

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