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DOLLAR GENERAL | SEVIERVILLE, TENNESSEE

Purchase Price
$1,207,000
Location
2474 Boyds Creek Hwy
Cap Rate
7.24%
Annual Rent
$87,362.40
Building Size
9,014 SF
Land Area
1.24 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
3.25 Years
LEASE EXPIRATION
09/30/2025
Renewal Options
Five (5) - Five (5) Year
RENT INCREASES
10% at Options
Parking
30 Spaces
Year Built
2010
APN
078025 00554
Traffic Counts
10,333 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • Approximately 3.75 Years Remaining in the Initial Lease Term
  • 2010 Build to Suit Construction
  • Five (5) - Five (5) Year Option Periods with 10% Rental Increases
 

NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:

  • Landlord Responsibilities Limited to Roof, Structure & Parking Lot (Concrete)
  • Tenant is Responsible for All Repairs/Replacements of the HVAC Units
  • Tenant Reimburses Common Area Maintenance Expenses in Full - Tenant Pays Landlord 1/12 of the Prior Year Amount Each Month & Reconciles with Landlord in Full at the End of the Year
 

PROXIMITY FROM SEVIERVILLE, TENNESSEE:

  • Pigeon Forge, Tennessee | 6 Miles
  • Knoxville, Tennessee | 24 Miles
  • Johnson City, Tennessee | 82 Miles
  • Asheville, North Carolina | 85 Miles
  • Kingsport, Tennessee | 87 Miles
  • Chattanooga, Tennessee | 135 Miles
  • Nashville, Tennessee | 208 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile Population = 2,866 Residents
  • 1-Mile Average Household Income = $65,100
  • 3-Mile Population = 10,605 Residents
  • 3-Mile Average Household Income = $68,491
  • 5-Mile Population = 23,250 Residents
  • 5-Mile Average Household Income = $67,336
  • 7-Mile Population = 49,640 Residents
  • 7-Mile Average Household Income = $64,137
 

TENANT:

  • Strong Corporate Guaranty (NYSE: "DG") - Dollar General Corporation is Rated "BBB" by Standard & Poor's
  • 18,000 Stores in 46 States as of November 13, 2021
  • Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
  • Ranked #91 on the Fortune 500 List - Up 21 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 12 Consecutive Years)

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