Dollar General – Boiling Springs Lake, NC

Pricing & Financial Analysis
Location
3196 A George II Highway 87
Boiling Springs Lake, NC 28461
Sold: $700,000
Closing Date: 09/01/2015
Rentable Sq. Ft.: 9,014 SF Sq. Ft.
Price Per Sq. Ft.: $85.73
Cap Rate: CAP Rate 8.75%%
Lot Size: 1.00 Acres
Type Of Ownership: Fee Simple

Highlights
HVAC – New Units being installed in Summer 2015
Landlord to credit difference between current rent and future rent at closing. Approximately $7,000.
Amazing store - Excellent Store Sales
Annualized Operating Data
Rent Increase
Annual Rent
Years 2015 - January 31, 2018
February 1, 2018 - January 31, 2020
CAM Fixed Payment: 4,056.00
Option Periods
 
Years 2020 – 2025
Years 2025 - 2030
Real Estate Taxes: Full Reimbursement
Insurance: Full Reimbursement

Expenses
Lawn, Parking Lot & Retention Pond Landscaping:
4,056.00
Net Operating Income: $63,750.00
Total Return: 8.25% $63,750.00

Tenant Summary
Tenant Trade Name: Dollar General Corp.
Ownership: Public
Tenant: Corporate
Lease Guarantor: Corporate, Public, NYSE: DG
Lease Type: Double Net Lease (NN)
Roof And Structure: Roof and Structure
Lease Term: 10.0 Years*
Lease Commencement Date: 2/1/2005
Rent Commencement Date: 2/1/2005
Lease Expiration Date: 1/31/2020
Term Remaining On Lease: 4.50 Years
Increases: Increases Rental Increase during the Options Periods
*Please Request Lease Agreements for further clarification
 

INVESTMENT & LOCATION OVERVIEW

Highlights

  • Strong Sales – no Percentage (%) Rent – over $1.90 million in sales in 2014
  • Proven Location
  • NORTH CAROLINA – EXCELLENT REAL ESTATE
  • Corporate Guaranteed ($16.01 Billion Revenue / $3.3 Billion Net Worth approximately) • Dollar General: #195 in Fortune 500 – S&P BBB- Rating – Investment Grade
  • 9,014 SF – Larger Store Format
  • NEW HVAC Units to be installed in Summer 2015
  • Two, Five-Year Option Remaining
  • Property located in Boiling Springs/Southport suburb off State Hwy 87 just 18 miles South of Wilmington, NC
  • Low Price per Square Foot for North Carolina
  • Local retail includes Sunoco, Kopps, Security Savings Bank, BP, BSL Mini Mart, ABC Store
  • Dollar General has enrolled this store in its national insurance program

The Dollar General # 10,171 – is a proven location. The property is located at 3196 A George II Highway 87 Boiling Springs Lake, NC located just off State. Hwy 87 between Bolivia & Southport, just south of Wilmington. The Dollar General property is a 9,014 Square Foot property built in 2005. The rent is a double net (NN) lease with landlord responsible for Roof, Structure, Parking Lot & HVAC. The property is offered at an 8.25% Cap Rate. Minimal maintenance is required with 4.75% increase in 4.5 years and 10% increases during the final, five-year option.

Boiling Springs Lake, NC is a suburb off State Highway approximately 18 miles south of Wilmington NC & 5 miles northwest of Southport, NC.


CORPORATE DESCRIPTION

Dollar General Corporation is the nation’s largest small-box discount retailer. We make shopping for everyday needs simpler and hassle-free by offering a carefully edited assortment of the most popular brands at low everyday prices in small, convenient locations. Dollar General ranks among the largest retailers of top-quality brands made by America’s most-trusted manufacturers, such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg’s, General Mills and Nabisco.

$17.79 billion in sales in fiscal 2013
11,000+ stores in 40 states

About 12,000 core products from America’s most-trusted manufacturers

9+ distribution centers

85,900+ employees

BBB– Rating by Standard & Poor’s

Headquarter are located at 100 Mission Ridge Goodlettsville, TN 37072