Net Leased Dollar General For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30737771
Property Subtypes: Convenience Store, Street Retail
Building Size (RSF): 9,014 SF
Gross Land Area: 1.68 Acres
Sale Price: $775,000
Unit Price: $85.98 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: Dollar General
Usable Size (USF): 9,014 SF
Sale Terms: Cash to Seller
Cap Rate: 6.74%
Last Updated: 6/9/2021

Overview / Comments

·New Eight Year Lease Extension (November 2020)
·Three, Five Year Renewal Options
·10% Rental Increase in First Option Period
·NN Lease Structure
·NOI - $52,200 per year
·Offering CAP Rate – 6.74%
·9,014 sq/ft – Constructed in 2004

The McEnery Company is pleased to offer the opportunity to acquire a NN leased, freestanding, Dollar General investment property located in Lafayette, LA. The tenant, Dollar General (S&P: BBB | NYSE: DG), recently executed an early 5-year extension through August 2029, demonstrating their continued commitment to the site. The lease features 3 remaining 5-year extension options with 10% rental increases at the beginning of each option period. The lease is NN+ with landlord responsible for roof, structure, and CAM (which DG reimburses $349/Mo for). This is a “bite sized” investment opportunity located in the city of Lafayette in close proximity to many rooftops. Located just of the corner of E. Pinhook and Carmel Dr., the property offer easy access to the main suburban arteries and the I-10 corridor.

Additional Details

Nearest MSA: Lafayette
County: Lafayette
Submarket/Township: D
Tax ID/APN: 6022027
Property Visibility: Good
Largest Nearby Street: E. Pinhook Rd.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2004
Parking Type: Surface
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,075 47,815 117,876
Median Age: 37.56 34.55 34.55
Households: 3,600 18,494 48,253

Contact

Photograph of Listing Agent

Troy Hagstette

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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