Property details

Dollar General Stores For Sale, Great Lakes - Big Rivers Region

Property Description


Dollar General Stores For Sale

This is a Private, Confidential and Off-Market Offering. This property is quietly being offered and is not being widely marketed on commonly used large listing services.

Losing out on properties as fast as you see them? Tip: Shoot first, then aim later. If a property hits most of your high points, move to lock it up first with our Non-Binding Letter of Intent ("LOI") rather than over-analyzing then losing the property when ready to pull the trigger. Email or call us at (800) 664-1031 to request that we send you our buy-friendly LOI.

Eight Dollar Generals.

• Located in two neighboring Midwestern states.

• All leases are NN.

• Existing financing in place.

• Developer has in excess of 30 Dollar General Stores in their portfolio.

• This has been a preferred Developer for Dollar General for many years.

• They have built somewhere around 150 stores for them and have the opportunity to continue building more stores.

• The stores offered here are the first of probably 15 units we will be selling over the next 18 months.

• They can add additional stores to the portfolio if a buyer is interested.

• The units sales volume are above average.

• Dollar General won’t share what kind of Sales Volumes these stores are generating, however as we all know Dollar General has been enjoying tremendous sales increases and profit increases.

• There same store Sales increased by over 6% in the 3rd quarter of 2011.

• Each quarter during 2011 sales were increasing by these kinds of numbers and profits are soaring quite well too.

• The stores we have included in this package are relocations.

• This developer has done mostly Relocations for Dollar General because they are in states where they were well situated because they bought several chains when they entered these Markets and the stores they had were in need of updating which was done very effectively.

• Having been around these stores for many years it is of opinion that each of these stores is doing well over $1,300,000 per year in sales with some stores well over that number).

About the Tenant

As of January 28, 2011, Dollar General Corp. reported total revenues of $13.03 billion, a net income of $627 million and a net worth of $4.05 billion. The company currently holds an S&P credit rating of BB+/Stable.

Corporate Signature
Company Type: Public - NYSE: DG
2011 Sales (mil.) $13,035.0
Locations: 9,200+
2011 Employees: 85,900
Store Size: 7,100 Square Foot Stores
S&P Rating: BB+ (Outlook= Stable)
Fortune 500 Ranking: #188

Dollar General commands a chain of more than 9,400 discount stores in 35 states, primarily in the southern and eastern US, the Midwest, and the Southwest.

Offering basic household items, such as cleaning supplies and health and beauty aids, as well as some apparel and food, it targets low-, middle-, and fixed-income shoppers.

Stores are generally located in small towns off the radar of giant discounters. Its big-city stores (about 30% of its total) are situated in lower-income neighborhoods. Some 25% of its merchandise is priced at $1 or less. Two years after being taken private by affiliates of KKR and Goldman Sachs, the chain went public in 2009.

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Highlights

Status:
Sold
Price:
$8,428,834
PSF:
$116
Cap Rate:
8.23%
Annual Rent:
$694,936
Rent Increases:
Yes - increases in the options
 

Property Information

Building Size:
72,800 sq.ft.
Property Type:
Net Lease
Industry Type:
Retail
Units/Spaces:
8
Year Built:
2009
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Dollar General
Lease Type:
NN
Lease Expiration:
07/31/2019
Lease Remaining:
4.7 years
Landlord Responsibilities:
NN - However, generous reimbursements bring these back to NNN-ness.
Options:
Four 5-year options with scheduled increases
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.