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12904 Highway 10, Pitkin, LA

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DetailMap
12904 Highway 10

Pitkin, LA 70656-4845

(1.2 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2016
Building Size:9,026 SF Land Area:1.54 AC (67,082 SF)
For Sale Price:$1,185,385 Price/SF:$131.33
Cap Rate:6.80 %
Portfolio:This property is for sale (for $10,854,500) as part of a portfolio of 9 properties.
Features:Pylon Sign



Sale Notes:
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General property located in Pitkin,
LA. Pitkin is located in central Louisiana approximately fifty miles southwest of Alexandria and sixty miles north of Lake
Charles. The Dollar General was constructed in 2016. There are approximately fifteen years remaining on the Dollar General
lease which expires on May 31, 2031. The lease features 10% rental escalations in each of the three 5-year renewal option periods.
This absolute triple net lease features no landlord responsibilities.
The 9,026 square foot Dollar General building is strategically located along Highway 10 which is the primary thoroughfare in the
trade area. The Dollar General is located approximately fifteen miles south of Fort Polk. Fort Polk is an US Army Installation
which encompasses approximately 198,000 acres. Fort Polk is the only Combat Training Center that also trains and deploys combat
units. In 2013, there were 10,877 troops stationed at Fort Polk which generated an annual payroll of $980 million.
Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. 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 $26 billion. As of March 23, 2016, Dollar General operated 12,483 stores located in 43
states.

• 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 (2016)
• Located along Highway 10 which is the primary thoroughfare in the trade area
• Approximately 15 miles south of Fort Polk South which encompasses approximately 198,000 acres and is home to over 10,000
soldiers

The Boulder Group
Randy Blankstein
(847) 562-0003

Jimmy Goodman
(847) 562-8500




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