Dollar General

Gas, KS

Price $1,067,000
Cap Rate 6.75%
TYPE Single-Tenant
STATUS Under Contract
Tenant Dollar General Corp.
LEASE TYPE Absolute NNN
SQUARE FEET 7,489
PRICE/SQ FT $142
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.

Dollar General is located in Gas, Kansas, with great drive-by visibility along West 1st Street/US Hwy 54. The property is 2 miles from Iola, Kansas with businesses including Walmart, AutoZone, Verizon, McDonald’s & Allen Community College (a 2-year junior college offering multiple degrees & certificates with a total enrollment of over 2,300 students). Dollar General is also just 4.5 miles from Allen County Regional Hospital – Iola.

*In Association With: Lockwood Realty, LLC

Property Highlights

  • New 15 Year Absolute NNN Lease with RARE 3% Rental Escalation in the 11th Year
  • Great Drive-by Visibility with Traffic Counts of 6,360 CPD on W 1st St/US Hwy 54
  • Demographics – Total Population: 11,244 | Average Household Income: $48,860
  • 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
  • Located 2 Miles from Iola, Kansas – Nearby Businesses include Walmart, AutoZone, Verizon, McDonald’s & Allen Community College with Total Enrollment of Over 2,300 Students