DOLLAR GENERAL | PENNINGTON GAP, VIRGINIA

Purchase Price
$317,877
Location
231 Dollar Drive
Cap Rate
9.00%
Annual Rent
$31,320.00
Building Size
10,000 SF
Land Area
1.77 Acres (77,101 sf)
Ownership
Fee Simple
Lease Type
NN (BASE YEAR)
Term Remainning
4.5 Years
LEASE EXPIRATION
08/30/2024
Renewal Options
One (1) - Five (5) Year
RENT INCREASES
7.50% at Option
Parking
45 Spaces
Year Built
1995
APN
36A-(10)-5A,6A
Traffic Counts
8,181 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE GUARANTEED LEASE:

  • Approximately 4.5 Years Remaining in the Current Lease Term
  • 1995 Construction - Build-to-Suit Dollar General
  • One (1) - Five (5) Year Option Period with 7.50% Rental Increase
 

25 YEAR OPERATING HISTORY | RELOCATION STORE:

  • Dollar General Has Been Operating at this Location Since 1995
  • Subject Property was a Relocation Store of an Existing Store in the Pennington Gap Market
 

NN LEASE | BASE YEAR LEASE:

  • Landlord is Responsible for Roof, Parking Lot, Structure and HVAC
  • Tenant is Responsible for Repairs Less than $500 Per Occurrence
  • Landlord is Responsible for the Base Year (1993) Taxes & Insurance
  • Tenant is Responsible for Any increase Over the Base Year (1993) Taxes & Insurance
  • Tenant is Responsible for Keeping the Parking Area Clear of Dirt, Debris, Garbage, Trash & Snow Removal
 

PROXIMITY TO MAJOR CITIES:

  • Kingsport, Tennessee | 30 Miles - 58 Minute Drive
  • Johnson City, Tennessee | 50 Miles - 1 Hour: 13 Minute Drive
  • Knoxville, Tennessee | 80 Miles - 2 Hour: 6 Minute Drive
  • Asheville, North Carolina | 90 Miles - 2 Hour: 12 Minute Drive
 

TENANT:

  • Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
  • 16,094 Stores in 44 States as of November 1, 2019
  • Dollar General Plans to Undertake Some 2,600 Real Estate Projects in 2020, Including 1,000 New Store Openings (Up from 975 in 2019), 1,500 Mature Store Remodels and 80 Store Relocations
  • Ranked #119 on the Fortune 500 List - Up 4 from Last Year (Dollar General has Moved Up the Fortune 500 List for the 10th Consecutive Year)

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