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Dollar General Double-Net NN

324 Franklin St, Slippery Rock, PA 16057, USA
$2,000,000

Description

Marcus & Millichap is pleased to present the exclusive listing for a Dollar General located at 324 Franklin, Slippery Rock, Pennsylvania in Butler County, less than an hour drive North of downtown Pittsburgh, Pennsylvania and half hour drive to the east of downtown Youngstown, Pennsylvania. Currently under construction, the 10,640 square feet building is scheduled to complete November, 2017. Currently the property consists of 7,500 square feet of building space and is situated on a one acre parcel of land. This property caters to Slipper Rock University of Pennsylvania which is a ten minute walk from campus. This investment is subject to an double-net (See page 9 for Terms of Lease Summary) lease and will have an original 15- year lease. This is a corporate location and is guaranteed by Dollar General corporate (NYSE: DG), which has an investment grade credit rating (S&P BBB, Stable). The base rent is $125,000 and is subject to 10 percent rental escalations in each tenant renewal option. Tenant shall be entitled to extend the term of the Lease for three successive periods of five years each and one successive period of four years and 11 months. Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day! by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With 12,483 stores in 43 states as of January 29, 2016.

 

■ BRAND NEW 2017 CONSTRUCTION
■ INVESTMENT GRADE CREDIT (S&P: BBB) | LEASE GUARANTEED BY DOLLAR
GENERAL CORPORATE
■ LONG-TERM DOUBLE-NET (NN) LEASE | 15 YEARS ORIGINAL LEASE
■ 10 PERCENT RENTAL ESCALATIONS IN EACH TENANT RENEWAL OPTION
■ SERVES ITS TARGET MARKET | SLIPPER ROCK UNIVERSITY OF PENNSYLVANIA
■ LIMITED TO NO COMPETITION IN THE AREA

  • Address: 324 Franklin St
  • City: Slippery Rock
  • State/county: Pennsylvania
  • Zip/Postal Code: 16057
  • Country: United States

Detail

  • Price: $2,000,000

Additional details

  • CAP Rate: 6.25%
  • NOI: $125,000

Features