DOLLAR GENERAL | SMITHERS, WEST VIRGINIA



INVESTMENT SUMMARY

Purchase Price
$1,550,189

Location
41 Redwood Street

Cap Rate
7.08%

Annual Rent
$109,766.04

Building Size
9,240 SF

Land Area
1.05 Acres

Ownership
Fee Simple

Lease Type
ABSOLUTE NNN

Term Remainning
11.25 Years

LEASE EXPIRATION
09/30/2031

Renewal Options

RENT INCREASES
10% at Options

Parking
35 Spaces

Year Built
2016

APN
09006605

Traffic Counts
6,537 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE GUARANTEED LEASE:
- 11.5 Years of Guaranteed Lease Term
- 2016 Construction Build-to-Suit Dollar General
- 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
- Ideal, Management-Free Investment for an Out-of-State, Passive Investor
PROXIMITY TO MAJOR CITIES:
- Charleston, West Virginia | 27 Miles – 34 Minute Drive
- Huntington, West Virginia | 80 Miles – 1 Hour: 24 Minute Drive
- Parkersburg, West Virginia | 104 Miles – 1 Hour: 44 Minute Drive
- Morgantown, West Virginia | 166 Miles – 2 Hour: 52 Minute Drive
- Roanoke, Virginia | 166 Miles - 2 Hour: 56 Minute Drive
TRADE AREA DEMOGRAPHICS:
- 3-Mile Population = 3,951 Residents
- 3-Mile Average Household Income = $49,195
- 5-Mile Population = 6,528 Residents
- 5-Mile Average Household Income = $47,201
- 7-Mile Population = 10,882 Residents
- 7-Mile Average Household Income = $46,316
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit “BBB” by Standard & Poor’s
- 16,368 Stores in 45 States as of February 28, 2020
- 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
- Long Term History of Same-Store Sales Growth - 2019 Marked the Company's 30th Consecutive Year