DOLLAR GENERAL | OLTON, TEXAS

Purchase Price
$751,384
Location
718 1st Street
Cap Rate
7.15%
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
One (1) - Five (5) Year
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

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