DOLLAR GENERAL | OLTON, TEXAS
INVESTMENT SUMMARY
Purchase Price
$690,000
Location
718 1st Street
Cap Rate
7.78%
Annual Rent
$53,724.00
Building Size
9,014 SF
Land Area
1.44 Acres (62,726 SF)
Ownership
Fee Simple
Lease Type
NN
Term Remainning
7 Years
LEASE EXPIRATION
06/30/2027
Renewal Options
RENT INCREASES
10% at Options
Parking
34 Spaces
Year Built
2005
APN
14638
Traffic Counts
4,186 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- 7+ Years Remaining
- 2005 Construction Build-to-Suit Dollar General
- One (1) - Five (5) Year Option Period at 10% Rent Increase
RECENT LEASE RENEWAL | STRONG OPERATING HISTORY:
- In March 2020, the Tenant Extended the Lease Through 6/30/2027
- Tenant Has Been Operating at this Location for 15+ Years
NN LEASE:
- Landlord Responsibilities Limited to Roof, Parking Lot (Concrete) & HVAC Units
- This Location is Part of Dollar General's National Insurance Program (NIP)
LOCATION:
- Strategically Located on 1st Street - the Main Thoroughfare in Town
- Directly Adjacent to the Former Olton Graun Co-Op
LIMITED COMPETITION:
- Closest Family Dollar is 25 Miles SE in Hale Center, TX
- Closest Dollar General is 16 Miles West in Earth, TX
- Closest WalMart is 22 Miles East in Plainview, TX
PROXIMITY TO MAJOR CITIES:
- Lubbock, Texas | 50 Miles
- Amarillo, Texas | 84 Miles
- Clovis, New Mexico | 66 Miles
- Odessa, Texas | 178 Miles
- Abilene, Texas | 216 Miles