Dollar General – New Albany
$50,000 Minimum Investment
Current Yield: 6.00%
NNN Lease – 15 years
This deal is COMPLETED. For current 1031 offerings or help with your 1031 exchange, please contact us.
Property Info
Tenant:
Dollar General
Address:
1523 CR 101, New Albany, MS
Year Build:
2015
Total Sq Ft.:
9100
Property Type:
Single Tenant, Freestanding
Ownership Type:
TIC
Non-Accredited Investors:
Yes
Minimum Investment:
$50,000
Mississippi TIC Property
This tenant-in-common property features an absolute NNN lease that leaves investors with a passive investment opportunity without the landlord responsibilities. The base lease term runs through August 2030 and has two 5-year renewal options. Each option has a 10% rent increase. The property itself is a build-to-suit for Dollar General and is the latest Dollar General prototype with a mix of masonry, concrete block, and steel construction. The lease is fully guaranteed by Dollar General Corporation (NYSE: DG; S&P: BBB/Stable), a company currently operating more than 12,575 stores in 43 states. On January 29, 2016, the company reported total revenues of $20.37 billion, net income of $1.17 billion and net worth in excess of 5.38 billion. The property is one of a select few retailers in the area and serves as an important, affordalbe shopping destination for the area’s surrounding population. Contact us for info on all current TIC Properties >>>
Tenant Info
Tenant:
Dollar General
Net Worth / Credit Rating:
$5.38 billion / BBB/Stable
Ticker Symbol:
DG
Website:
dollargeneral.com
Lease Info
Type:
Absolute NNN
Term:
15 years
Corp. Guaranteed Lease:
Yes
Rent Commencement:
August 2015
Lease Expiration:
August 2030
Owner Responsibility:
None
Tenant Responsibility:
Taxes, Insurance, Utilities, Maintenance
Annual Rent:
$132,000
Rent Escalations:
10% each renewal period
Renewal Options:
(2) 5-year renewal options
Demographics
Location:
New Albany, MS
Population:
8,786
Avg Household Income:
$28,730
The property’s location has 3,049 households with a low median household income and thus the store serves as an important hub for affordable home necessities.