Loan amount
$1,887,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$2,550,000
{PP:$1,886,680}
LTV
74%
{LTV}
Property type
Retail/Strip Mall
Borrower Details
Credit score
630
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Glennville
State
Georgia
Loan Details
Purchase price
$1,886,680
Down payment
$0
Additional Loan Information
10,640 SF Dollar General PLUS store with an upgraded storefront located in
Georgia. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5 Year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store just opened with rent having commenced in May of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner which sees 7,619 cars per day. The ten mile population from the site is 16,270 and growing, while the three mile average household income is $75,243 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the five mile population growth rate at 5.75%. This investment will offer a continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 5.15% cap rate based on NOI of $97,164.
Highlights
15 Year Absolute NNN Lease | Zero Landlord Responsibilities
BTS 2022 Upgraded Storefront
Corner Location | On Main Thoroughfare
5 (5 Year) Options | 10% Increases At Each Option
Three Mile Household Income $75,243
Ten Mile Population 16,270 | Expected Growth 5.47%
Five Mile Population Growth Rate 5.75%
7,619 Cars Per Day on S Veterans Blvd
Investment Grade Dollar Store With "BBB" Credit Rating
DG Reported 31 Consecutive Years of Same Store Sales Growth
Property Details
Price $1,886,680
Size 10,640 SF
Cap Rate 5.15%
Year Built 2022
NOI $97,164
Georgia. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5 Year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store just opened with rent having commenced in May of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner which sees 7,619 cars per day. The ten mile population from the site is 16,270 and growing, while the three mile average household income is $75,243 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the five mile population growth rate at 5.75%. This investment will offer a continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 5.15% cap rate based on NOI of $97,164.
Highlights
15 Year Absolute NNN Lease | Zero Landlord Responsibilities
BTS 2022 Upgraded Storefront
Corner Location | On Main Thoroughfare
5 (5 Year) Options | 10% Increases At Each Option
Three Mile Household Income $75,243
Ten Mile Population 16,270 | Expected Growth 5.47%
Five Mile Population Growth Rate 5.75%
7,619 Cars Per Day on S Veterans Blvd
Investment Grade Dollar Store With "BBB" Credit Rating
DG Reported 31 Consecutive Years of Same Store Sales Growth
Property Details
Price $1,886,680
Size 10,640 SF
Cap Rate 5.15%
Year Built 2022
NOI $97,164
Status
Open
Created
September 8, 2022 - 5:10pm
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