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DOLLAR GENERAL | ODESSA, TEXAS

Purchase Price
$1,565,533
Location
10517 W. University Blvd.
Cap Rate
6.00%
Annual Rent
$93,932.52
Building Size
9,026 SF
Land Area
1.39 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
6.41 Years
LEASE EXPIRATION
05/31/2028
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
10% at Options
Parking
30 Spaces
Year Built
2013
APN
R100091276
Traffic Counts
13,867 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • Approximately 6.4 Years Remaining in the Initial Lease Term (Lease Exp: 05/31/2028)
  • 2013 Build to Suit Construction
  • Three (3) - Five (5) Year Option Periods with 10% Rental Increases
 

A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:

  • Absolute NNN Lease with ZERO Management Responsibilities
  • Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
 

PROXIMITY FROM ODESSA:

  • Midland, TX | 20 Miles
  • San Angelo, TX | 132 Miles
  • Lubbock, TX | 138 Miles
  • Abilene, TX | 170 Miles
  • Amarillo, TX | 260 Miles
  • El Paso, TX | 283 Miles
  • Austin, TX | 338 Miles
  • San Antonio, TX | 339 Miles
  • Waco, TX | 341 Miles
  • Dallas, TX | 352 Miles
  • Albuquerque, NM | 403 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile = 4,499 Residents; $58,139 Average Household Income
  • 1-Mile Projected Annual Growth = 2.70% (13.50% Over the Next 5 Years)
  • 3-Mile = 25,653 Residents; $53,999 Average Household Income
  • 3-Mile Projected Annual Growth = 2.67% (13.35% Over the Next 5 Years)
  • 5-Mile = 34,681 Residents; $56,439 Average Household Income
  • 3-Mile Projected Annual Growth = 2.66% (13.30% Over the Next 5 Years)
 

TENANT:

  • Strong Corporate Guaranty (NYSE: "DG") - Dollar General Corporation is Rated "BBB" by Standard & Poor's
  • 18,000 Stores in 46 States as of November 13, 2021
  • Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
  • Ranked #91 on the Fortune 500 List - Up 21 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 12 Consecutive Years)

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