Dollar General

Cavalier, ND

Price $1,202,000
Cap Rate 7.00%
TYPE Single-Tenant
STATUS Under Contract
Tenant Dollar General Corp.
LEASE TYPE Absolute NNN
SQUARE FEET 9,100
PRICE/SQ FT $132
YEAR BUILT 2017
LEASE EXP. 2032
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Dollar General has a brand new 15 year Absolute NNN lease with a rare 3% rental escalation in the 11th year and four 5 year renewal options. The lease guarantor, Dollar General Corporation, is a national discount retailer with over 13,600 stores in 44 states and has stable ratings on both S&P and Moody’s (S&P: BBB | Moody’s: Baa2). This location is currently under construction with an estimated completion in December 2017. This Dollar General is the only dollar store within a 30 mile radius!

Dollar General is located in Cavalier, North Dakota, with great drive-by visibility across the street from Wedgewood Manor, a 50 bed skilled nursing home, and sits less than 1 mile from Pembina County Memorial Hospital, a critical hospital, full-service clinic with 24 beds. The property is nearby Cavalier Air Force Station, a U.S. Air Force installation that monitors & tracks potential missile launches North America with about 130 employees. Nearby retailers include Leevers Foods, True Value, Napa Auto Parts, Cavalier Cinema, etc.

*In Association With: John Candy, LLC

Property Highlights

  • New 15 Year Absolute NNN Lease with RARE 3% Rental Escalation in the 11th Year
  • Great Drive-by Visibility Across the Street from Wedgewood Manor with Traffic Counts of 4,180 CPD on Main St W
  • Demographics – Total Population: 2,691 | Average Household Income: $72,290
  • Guarantor: Dollar General Corporation (NYSE: DG | S&P BBB Investment Grade Credit Rating | Moody’s Baa2 Rating) – Operates over 13,600 stores in 44 States
  • Only Dollar Store within a 30 Mile Radius!