Dollar General

Lakota, ND

Price $1,247,000
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 $137
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 corporate guarantee! The lease has a rare 3% rental escalation in the 11th year with four 5 year renewal options. Dollar General is currently under construction with expected completion in October 2017 and will be the only dollar store in a 25 mile radius! 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).

The subject property is located in Lakota, North Dakota, on US Hwy 2 with excellent frontage and traffic counts. The U.S. News rated North Dakota #4 as one of the Best States in the U.S. North Dakota is devoted to farming. The state counts nearly 31,000 family farms and ranches averaging 1,260 acres, with 39.2 million acres devoted to farming and ranching. One-fifth of the state’s population is employed in agriculture – with North Dakota ranking as the nation’s No. 1 producer of dry navy and pinto beans. The state provides more than 90 percent of the nation’s canola and flaxseed. Other major industries in North Dakota: petroleum, food processing & technology.

*In Association With: John Candy, LLC

Property Highlights

  • New 15 Year Absolute NNN Lease with RARE 3% Rental Escalation in the 11th Year
  • Brand New Construction: Estimated Construction Completion in October 2017
  • Demographics - Total Population: 1,077 | Average Household Income: $67,056
  • Lease Guarantor: Dollar General Corporation - Operates over 13,600 stores in 44 States
  • Conveniently Located on US Hwy 2 with Excellent Frontage and Traffic Counts
  • Limited Competition: Only Dollar Store in 25-Mile Radius