DOLLAR GENERAL | SMITHERS, WEST VIRGINIA

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
Three (3) - Five (5) Year
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

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