dollar general Price reduced $1.14 Million New NNN Lease Summer opening For more info on this opportunity please contact:

Transcription

1 dollar general Price reduced $1.14 Million New NNN Lease Summer opening 403 Highway 62 West, Alpena AR For more info on this opportunity please contact: RICK SANNER (415) CA BRE# JOHN ANDREINI (415) CA BRE# BOB SANNER (415) CA BRE# CHRIS KOSTANECKI (415) CA BRE# Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

2 NNN PROPERTY IN ALPENA, ARKANSAS New 15-year primary term lease with five (5), five-year options with a 10% rental increase at the beginning of each option period. Investment Highlights s PRICE.... $1,141,150 CAP RATE % LEASE START DATE... Late August RENTABLE SF... 9,100 SF LAND AREA Acres YEAR BUILT LOW COMPETITION LOCATION > This is the only Dollar General located in the town of Alpena SURGING CREDIT RATING - INVESTMENT GRADE > Dollar General s credit is BBB-, the company s credit rating has been raised 4 times since 2009 STRONG TENANT > During fiscal 2014, Dollar General expects to open about 700 new stores, and remodel or relocate approximately 525 outlets. > Dollar General has more stores than any other retailer in the U.S. and is the largest dollar store chain > In the last four years, the DG stock price is up over 100% LEASE HIGHLIGHTS > Fifteen year NNN lease with options DOLLAR GENERAL 2

3 s Photos Income & Expense PRICE $1,141,150 Capitalization Rate: 6.75% Total Rentable Area (SF): 9,100 Lot Size (Acres): 1.69 STABILIZED INCOME Per Square Foot Scheduled Rent $8.46 $77,028 Effective Gross Income $8.46 $77,028 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $77,028 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. DOLLAR GENERAL 3

4 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/ SF Yearly Rent/ SF Dollar General 9, $77,028 $6,419 $77,028 $0.71 $8.46 Option 1 $7,060 $84,720 $0.78 $9.31 Option 2 $7,766 $93,192 $0.85 $10.24 Option 3 $8,543 $102,516 $0.94 $11.27 Option 4 $9,397 $112,764 $1.03 $12.39 Option 5 $10,377 $124,524 $1.14 $13.68 Totals: 9,100 $77,028 $6,419 $77,028 $0.71 $8.46 The actual tenant is a wholly owned subsidiary of Dollar General. Dollar General, the parent, guarantees the lease. Each option is five years. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. DOLLAR GENERAL 4

5 Tenant Dollar General Dollar General (NYSE: DG) is a chain of more than 10,500 discount stores in 40 states, primarily in the South, East, Midwest, and Southwest. Offering basic household items, such as cleaning supplies, health and beauty aids, as well as some apparel and food, it targets low-, middle-, and fixed-income shoppers. Although it has the word dollar in its name, Dollar General is not solely a dollar store. The company offers goods sold at set price points from under a dollar to $60. Some of its higher end items include over-the-counter medicines, seasonal products, pet products, prepaid cell phones and accessories, and automotive supplies. The company has grown into the country s largest small-box discount retailer. Stores are generally located in small towns off the radar of giant discounters. One of its main advantages is that it offers prices as low or lower than Walmart but in locations much more convenient to the consumer, within a much closer driving distance. Some 25% of its merchandise is priced at $1 or less. Dollar General has more stores than any other retailer, and is easily the largest dollar store chain. The company ranks 175th within the Fortune 500 list. Fiscal 2013 revenues exceeded $17.5 billion (up 9.23% from 2012) with a net income of $1.02 billion (up 7.60% from 2012), and net worth of $5.4 billion (up 8.43% from 2012.) The company s June stock market value is estimated to be $17.0 billion. COMPANY TYPE: PUBLIC (NYSE: DG) 2013 SALES $16.02 BILLION S&P 500 CREDIT RATING BBB- (OUTLOOK STABLE) Investment Grade 2013 FORTUNE 500 #175 DOLLAR GENERAL 5

6 Regional Map Alpena DOLLAR GENERAL DOLLAR GENERAL 6

7 Alpena, AR Demographics Route 62 merges into route 412 just west of the site. Then route 412, with strong traffic counts, continues east past the site. Located in the Harrison micropolitan area (specifically in Boone and Carroll counties), Alpena is located 13 miles from Harrison, AR, which contains Boone County Regional Airport with non-stop service to Memphis and Kansas City. Carroll County provides some of the best boating, skiing, canoeing, and fishing habitats in the state. Eureka Springs. Caroll is also home to unique architecture like E. Fay Jones s Thorn Crown Chapel, and exotic artwork fabricated by local artists. 3-Mile 5-Mile 10-Mile ,251 2,652 16,288 3-Mile 5-Mile 10-Mile Average $51,745 $51,716 $48,721 Median $38,752 $38,848 $36,592 Copyright 2014 [Capital Pacific Real Estate Brokerage Company] DOLLAR GENERAL 7