DOLLAR GENERAL | SALIX, PENNSYLVANIA
INVESTMENT SUMMARY
Purchase Price
$1,500,000
Location
1375 Forest Hills Drive
Cap Rate
6.33%
Annual Rent
$94,908.00
Building Size
9,100 SF
Land Area
2.02 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
11.5 Years
LEASE EXPIRATION
08/31/2032
Renewal Options
RENT INCREASES
10% at Options
Parking
31 Spaces
Year Built
2017
APN
001 119865
Traffic Counts
8,932 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Approximately 11.5 Years Remaining in the Initial 15 Year Lease Term
- 2017 Construction - 9,100 SF
- Three (3) - Five (5) Year Option Periods with 10% Rental Increases
- Wide Profile Building Type for Flexible Future Use & Universal Applications
A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
UNIVERSITY OF PITTSBURGH AT JOHNSTOWN:
- Located 3.6 Miles (5 Minute Drive) from the Subject Property
- Founded in 1927
- Total Student Enrollment = 3,000
- Faculty = 141 (Full-Time); 112 (Part-Time)
PROXIMITY TO OTHER CITIES:
- Altoona, Pennsylvania | 42 Miles
- Latrobe, Pennsylvania | 46 Miles
- Pittsburgh, Pennsylvania | 83 Miles
- Hagerstown, Maryland | 105 Miles
- Morgantown, West Virginia | 106 Miles
- Harrisburg, Pennsylvania | 132 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 869 Residents
- 1-Mile Average Household Income = $63,788
- 3-Mile Population = 4,610 Residents
- 3-Mile Average Household Income = $71,448
- 5-Mile Population = 21,469 Residents
- 5-Mile Average Household Income = $73,796
- 7-Mile Population = 41,753 Residents
- 7-Mile Average Household Income = $69,716
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
- 17,266 Stores in 46 States as of February 26, 2021
- Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
- Ranked #112 on the Fortune 500 List - Up 7 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 11 Consecutive Years)
- In 2021 Dollar General Plans to Execute 2,900 Real Estate Projects, Including 1,050 New Store Openings, 1,750 Store Remodels, and 100 Store Relocations