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Dollar General 7728 Lockwood Dr 9,100 SF Retail Building Houston, TX 77016 $2,115,213 ($232.44/SF) 6.35% Cap Rate
Investment Highlights
- Single Tenant NN+ | Houston MSA | 2% Co-Broker Fee
- Investment Grade Tenant - Rated BBB by S&P; Dollar General operates 20,000+ stores in 48 states with over 186,000 employees
- Lease Security - Dollar General (DG) signed a 5 year lease extension through 2029, highlighting DG's stability and commitment to the location
- 10% Rent Increases Every 5 Years
- Prime Location - Located on a hard corner at lighted intersection and less than 1 mile from I-45 (240,457 VPD)
- Dense Retail Corridor - 260K+ population in a 5 mile radius in a large, growing city with a low cost of living and doing business
Executive Summary
2009 Built to Suit Construction for Dollar General
Dollar General recently exercised their first option, proving their commitment to the site
5-mile population in excess of 268,845 residents
10-mile population in excess of 1,138,638 residents
Texas is an income tax-free state
Extremely strong corporately guaranteed lease
Houston is the 5th largest MSA in the country
Dollar General boasts an investment grade credit rating of BBB (S&P)
Dollar General has ±21,000 locations and plans to continue their expansion for the foreseeable future
Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic
Dollar General has a market cap of ±$30 billion
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Dollar General recently exercised their first option, proving their commitment to the site
5-mile population in excess of 268,845 residents
10-mile population in excess of 1,138,638 residents
Texas is an income tax-free state
Extremely strong corporately guaranteed lease
Houston is the 5th largest MSA in the country
Dollar General boasts an investment grade credit rating of BBB (S&P)
Dollar General has ±21,000 locations and plans to continue their expansion for the foreseeable future
Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic
Dollar General has a market cap of ±$30 billion
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,100 SF
Building Class
C
Year Built
2009
Price
$2,115,213
Price Per SF
$232.44
Cap Rate
6.35%
NOI
$134,316
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.16 AC
Zoning
None - Unrestricted
Parking
40 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 1315870010001 | Improvements Assessment | $902,695 |
| Land Assessment | $827,208 | Total Assessment | $1,729,903 |
Property Taxes
Parcel Number
1315870010001
Land Assessment
$827,208
Improvements Assessment
$902,695
Total Assessment
$1,729,903
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Dollar General | 7728 Lockwood Dr
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