DOLLAR GENERAL | WATERBURY, CONNECTICUT
INVESTMENT SUMMARY
Purchase Price
$2,043,971
Location
100 Piedmont Street
Cap Rate
5.85%
Annual Rent
$119,572.32
Building Size
9,100 SF
Land Area
1.48 Acres
Ownership
Fee Simple
Lease Type
NNN
Term Remainning
10 Years
LEASE EXPIRATION
11/30/2030
Renewal Options
RENT INCREASES
3% Year 11 (2025) & 10% at Options
Parking
37 Spaces
Year Built
2015
APN
043803210049
Traffic Counts
9,102 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Approximately 10 Years Remaining in the Initial 15 Year Lease Term
- 2015 Construction - 9,100 SF
- Rare Guaranteed 3% Rental Increase in Year 11 of the Initial Term (2025)
- Three (3) - Five (5) Year Option Periods with 10% Rental Increases
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 OTHER MAJOR CITIES:
- New Haven, Connecticut | 23 Miles - 41 Minute Drive
- Hartford, Connecticut | 31 Miles - 34 Minute Drive
- Springfield, Massachusetts | 56 Miles - 57 Minute Drive
- New York City, New York | 94 Miles - 2 Hour: 3 Minute Drive
- Providence, Rhode Island | 119 Miles - 1 Hour: 58 Minute Drive
- Boston, Massachusetts | 132 Miles - 2 Hour: 4 Minute Drive
CLOSE PROXIMITY TO MULTIPLE SCHOOLS - 2,090 STUDENTS WITHIN A 1.7 MILE RADIUS OF SUBJECT PROPERTY:
- Hopeville Elementary School (0.6 Miles) = 343 Students
- Washington Elementary School (0.6 Miles) = 324 Students
- John G. Gilmartin Elementary School (1.2 Miles) = 486 Students
- Maloney Elementary School (1.3 Miles) = 590 Students
- Wendell L. Cross School (1.7 Miles) = 347 Students
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 15,867 Residents
- 1-Mile Average Household Income = $60,686
- 3-Mile Population = 99,111 Residents
- 3-Mile Average Household Income = $63,972
- 5-Mile Population = 167,714 Residents
- 5-Mile Average Household Income = $75,678
- 7-Mile Population = 209,359 Residents
- 7-Mile Average Household Income = $84,682
TENANT:
- Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
- 17,000 Stores in 46 States as November 14, 2020
- Dollar General Achieved Their 30th Consecutive Year of Positive Same-Store Sales Growth in 2019
- Ranked #112 on the Fortune 500 List - Up 7 from Last Year (Dollar General has Moved Up the Fortune 500 List for 11 Consecutive Years)
- In 2021, Dollar General Plans to Execute 2,900 Real Estate Projects, Including 1,050 New Store Openings, 1,750 Remodels, and 100 Store Relocations