Dollar General #18578 109 State Street Sharptown, Maryland 21861 DOLLAR GENERAL Sharptown, MD. Rent Commencement : June 2018 Term: 15 Years Corporate Guarantee NNN Lease 1
SUMMARY INFORMATION Location: 109 State Street, Sharptown, Maryland 21861 Rent Commencement: Approximately June, 2018 Sale Price: $1,583,372. Cap Rate: 6.25% Initial Term Rents: $98,960.76/year Original Term: 15 Years FEATURES Easy Access from Rt. 313 New Lease No Landlord Obligation New Construction No Competition Options: Five (5) Five (5) year optional terms 10% increase in each optional year Lease Type: NNN - No Landlord Obligation Building/Lot Size: 9,100 Sq. Ft./1.53 acres /Principal 2
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SITE PLAN Future Community Center Decatur Street Realignment Proposed 2016 Future Home of Berlin, PD 4
DEMOGRAPHICS 2017 One Mile Three Miles Population 719 2,157 Average Income $75,529 $72,249 Five Miles 4,997 $70,159 The location is 109 State Street, Sharptown, Wicomico County, Maryland. Sharptown is an incorporated town in Wicomico County, Maryland. The economic generators are manufacturing in the regional employment areas, farming, and poultry. Sharptown s residential community is located centrally to two major employment hubs, Salisbury, 16 miles to the southeast and Federalsburg, 14 miles to the northwest. Rt. 313, Sharptown Road, is a main regional north, south, mid country route. The store will not have any competition. The closest Walmart and shopping is in Seaford which is 13.9 miles to the northeast. The closest Dollar General is located in Mardela Springs, #14710, which is 7 miles south on Rt. 50. Being located on the Nanticoke River, the town has a water front park, baseball, and athletic fields and boat ramps that draw regionally from spring through fall activities. A main attraction is the Sharptown Carnival which draws approximately 15,000 visitors annually. 5
LEASE ABSTRACT Guarantor Corporate (NYSE:DG) Credit S & P Baa2 Taxes Tenant Reimbursement Insurance Maintenance/Cam HVAC Parking Lot Roof & Structure Utilities Lease Term 15 Years (Commencing 3rd quarter of 2017) Optional Terms 5-5 Year Increase in Options 10% 6
RENT SCHEDULE Size Year Annual Rent Rent/Ft. 9,100 sf Initial Term 1-15 $ 98,960.76 $10.87 First Optional Term 16-20 $108,856.92 $11.96 Second Optional Term 21-25 $119,742.60 $13.16 Third Optional Term 26-30 $131,742.60 $14.48 Fourth Optional Term 31-35 $144,888.48 $15.92 Fifth Optional Term 36-40 $159,377.40 $17.51 Tenant is responsible for all costs associated with the Property to include but not limited to insurance, taxes, property maintenance, repairs and all other costs. 7
Tenant Summary DOLLAR GENERAL DETAILS Annual Sales $22 Billion (FY 2016) Credit Rating Baa2 Founded 1939 Locations 14,000 (8/2017) Employees 125,000 (+) Distribution Centers 15 Symbol NYSE: DG Corporate Office 100 Mission Ridge Goodlettsville, TN 37072 www.dollargeneral.com Dollar General is the largest discount retailer in the United States by number of stores with over 14,000 neighborhood stores in 44 states. Dollar General helps shoppers save time and money by offering quality private and national branded items that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at everyday low prices in convenient neighborhood stores. Dollar General is among the largest retailers of top-quality products made by America s most trusted manufactures such as Proctor & Gamble, Kimberly Clark, Unilever, Kellogg s, General Mills, Nabisco, Hanes, PepsiCo and Coca- Cola. 8