DOLLAR GENERAL | ODESSA, TEXAS
INVESTMENT SUMMARY
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
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)