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381 1st St S 9,100 SF Retail Building New Rockford, ND 58356 $1,061,475 ($116.65/SF) 8% Cap Rate
Investment Highlights
- Investment-grade credit: Dollar General Corp. (NYSE: DG), S&P rated BBB, Fortune 500 company.
- Absolute NNN lease minimizes landlord responsibilities for a highly passive ownership structure.
- Five 5-year renewal options, each with a 10% rental increase, offering long-term rent growth.
- Corporate guarantee from Dollar General Corp. provides additional credit support and income security.
- ±6.8 years of remaining lease term with predictable near-term cash flow and income visibility.
- Build-to-Suit construction in 2018, designed specifically for Dollar General's operational requirements.
Executive Summary
Brian Brockman
License # 10200, 3269 (ND)
Bang Realty- Dakotas, Inc.
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
License # 10200, 3269 (ND)
Bang Realty- Dakotas, Inc.
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,100 SF
Building Class
B
Year Built
2018
Price
$1,061,475
Price Per SF
$116.65
Cap Rate
8%
NOI
$84,918
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.63 AC
Zoning
C2 - Commercial
Frontage
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
-
Jan 0000
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business created by J.L. Turner and Cal Turner. The company later evolved into a discount retailer and now focuses on everyday essentials, including food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, and seasonal décor, alongside private brands and well-known national brands. Dollar General also operates DG Market, DGX, and pOpshelf formats in the United States and Mi Súper Dollar General stores in Mexico, while continuing to build a broad convenience-oriented general merchandise business.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 19000404892000 | Improvements Assessment | $145,550 |
| Land Assessment | $21,800 | Total Assessment | $167,350 |
Property Taxes
Parcel Number
19000404892000
Land Assessment
$21,800
Improvements Assessment
$145,550
Total Assessment
$167,350
Contacts
-
Brett Beers -
Kevin Bettinger -
Erik Vogelzang -
Matthews Real Estate Investment Services
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