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1231 Highway 31 - Dollar General, Correctionville, IA

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1231 Highway 31 - Dollar General

Correctionville, IA 51016

(1.0 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2016
Building Size:9,026 SF Land Area:1.48 AC (64,469 SF)
For Sale Price:$1,277,049 Price/SF:$141.49
Cap Rate:6.40 %
Portfolio:This property is for sale (for $20,967,117) as part of a portfolio of 17 properties. Parking:31 Surface spaces are available; Ratio of 3.43/1,000 SF
Features:Pylon Sign

Sale Notes:
The Boulder Group is pleased to exclusively market for sale a single tenant, new construction, net leased Dollar General
property located in Correctionville, IA. Correctionville is part of the Sioux City Metropolitan Statistical Area. The 9,026 square
foot Dollar General is strategically located at the intersection of Highway 31 and US Highway 20. Highway 31 is the primary
north-south thoroughfare in the trade area while US Highway 20 is the primary east-west thoroughfare. The Dollar General
was constructed in 2016. There are approximately 15 years remaining on the Dollar General lease which expires on March
31, 2031. The lease features 10% rental escalations in each of the five 5-year renewal option periods. This absolute triple
net lease features no landlord responsibilities.
Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB and a Moody’s rating of Baa2.
On June 1, 2016, Moody’s upgraded Dollar General’s credit rating to Baa2 and on October 15, 2015, Standard & Poor’s
upgraded Dollar General from BBB- to BBB. Dollar General is publicly traded on the New York Stock Exchange (DG) with
a market capitalization in excess of $23 billion. As of March 23, 2016, Dollar General operated 12,483 stores located in 43
• Located in the Sioux City MSA
• Investment grade rated tenant (S&P: BBB)
• Long term lease with approximately 15 years remaining
• 10% rental escalations in each renewal option period
• Absolute triple net lease with no landlord responsibilities
• New construction (2015)
• Strategically positioned at the intersection of Highway 31 and US Highway 20 which are the primary north-south and
east-west thoroughfares respectively
• Concrete parking lots

The Boulder Group
Randy Blankstein
(847) 562-0003

Jimmy Goodman
(847) 562-8500

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