DOLLAR GENERAL | SALIX, PENNSYLVANIA

Purchase Price
$1,543,220
Location
1375 Forest Hills Drive
Cap Rate
6.15%
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
Three (3) - Five (5) Year
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

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