nnn dollar general For more info on this opportunity please contact: 5885 Wofford Blvd., Wofford Heights, CA 93285 JOHN ANDREINI jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 BOB SANNER bsanner@capitalpacific.com (415) 274-2717 CA BRE# 00869657 RICK SANNER rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 CHRIS KOSTANECKI ck@capitalpacific.com (415) 274-2701 CA BRE# 01002010 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
HIGH-YIELD DOLLAR GENERAL PROPERTY LOCATED IN KERN COUNTY, CA The subject property is located in Wofford Heights, CA, and is on the main street of town. Investment Highlights s PRICE.... $2,175,936 CAP RATE... 6.25% PRICE PER SQ FT... $239.11 RENTABLE SF... 9,100 SF LAND AREA... 1.24 Acres YEAR BUILT... 2014 HIGH GROWTH AND STABLE TENANT > Dollar General operates 11,000+ stores > Fiscal 2013 sales were $17.5 billion > Net income of $1.025 billion in 2013 > 2013 was the 24th consecutive year of same store sales growth SURGING CREDIT RATING - INVESTMENT GRADE > Investment grade is BBB- with a stable outlook > On November 30th, 2012 Dollar General Corporation was added to the coveted S&P 500 which is made up of the most highly recognizable companies in the U.S. DOLLAR GENERAL LEASE > 15-year primary lease term with three (3), five-year options > 10% rental increases every 5 years during the option periods > Absolute net lease > Brand new construction > Rent commencement scheduled for September 15th, 2014 DOLLAR GENERAL 2
s Income & Expense PRICE $2,175,936 Price Per Square Foot: $239.11 Capitalization Rate: 6.25% Total Rentable Area (SF): 9,100 Lot Size (Acres): 1.24 Year Built: 2014 STABILIZED INCOME Per Square Foot Scheduled Rent $14.94 $135,996 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $135,996 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
Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/ FT Yearly Rent/ FT Dollar General 9,100 1 15 $135,996 $11,333 $135,996 $1.25 $14.94 Option 1 16 20 $12,467 $149,604 $1.37 $16.44 Option 2 21 25 $13,713 $164,556 $1.51 $18.08 Option 3 26 30 $15,085 $181,020 $1.66 $19.89 Current Totals: 9,100 $135,996 $11,333 $135,996 $1.25 $14.94 Rent commencement scheduled for September 15th, 2014 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
and Laurel Street CHARLIE S MARKET Drive CHATTERBOX CAFE 155 SIERRA VISTA MOTEL UTTERLY USELESS STUFF KERN RIVER OUTFITTERS THE LODE TAVERN TURNHAM TOBACCO BAREWOOD INN & SUITES KERN VALLEY AUTO BODY Wofford Boulevard WAGY RIDGE SPORTING GOODS THE REEL CINEMA ay Park W KERN RIVER HEALTH CENTER ISABELLA MOTORS HIDEAWAY TAVERN Lakeview Drive Woo dl ad Williams Street s Ro Bristlecone Drive Panor ama D rive Sierra Vista Drive Beach WOFFORD HEIGHTS MINI STORAGE MOUNT N LAKE MOTEL DOUGLAS EL SEGUNDO ROD AND GUN CLUB ptillie CREEK CAMPGROUND 155 Wo ffor db oul eva rd WOFFORD HEIGHTS CYCLE KE RN RIV ER Evan MUSTARD SEED RANCH ANTIQUES Cypress Lane 155 LAKESHORE LODGE BAKERSFIELD 48.2 MIS LAKE ISABELLA DOLLAR GENERAL 5
Tenant Dollar General Dollar General commands a chain of more than 11,000 discount stores in 40 states, primarily in the southern and eastern US, the Midwest, and the Southwest. Dollar General targets low-, middle-, and fixed-income shoppers by offering basic household items, such as cleaning supplies, health and beauty aids, apparel and food, all at reasonable prices. 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. In 2013 Dollar General did $17.5 billion in net sales, which is a 9.2% jump from 2012. With continued growth Dollar General plans to open approximately 700 new stores in 2014. DOLLAR GENERAL 6
Regional Map Wofford Heights,CA Location DOLLAR GENERAL Wofford Heights DOLLAR GENERAL 7
Location & Demos WOFFORD HEIGHTS, CA OVERVIEW Wofford Heights is located in Kern County, California, in the southern Sierra Nevada mountains. Wofford Heights is next to Lake Isabella, and is roughly one hour from Bakersfield where Highways 178 and 155 meet and 3 hours north of Los Angeles. POPULATION 1-Mile 3-Mile 5-Mile 926 2,520 4,589 Wofford Heights benefits from its boat launches and location along Lake Isabella which is a popular recreational destination. Lake Isabella provides the opportunity to go power boating, sailing, water skiing, jetskiing, windsurfing, and fishing. AVERAGE HOUSEHOLD INCOME 1-Mile 3-Mile 5-Mile $26,500 $27,000 $29,500 Wofford Heights draws not only residents from the nearby cities and towns, but also members of the armed forces stationed at Edwards Air Force base. DOLLAR GENERAL 8
A unique HUMAN RESULTS-DRIVEN client experience THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS [ www.capitalpacific.com ] JOHN ANDREINI jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 BOB SANNER bsanner@capitalpacific.com (415) 274-2717 CA BRE# 00869657 RICK SANNER rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 CHRIS KOSTANECKI ck@capitalpacific.com (415) 274-2701 CA BRE# 01002010 Copyright 2014 [Capital Pacific Real Estate Brokerage Company]