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812 N Walnut Street - Dollar General, Avoca, IA
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812 N Walnut Street - Dollar General
Avoca, IA 51521-3539 - E Pottawattamie County Submarket
2 AC (87,120 SF)
For Sale Price:
This property is for sale (for $20,967,117) as part of a portfolio of 16 properties.
The Boulder Group is pleased to exclusively market for sale a single tenant, new construction, net leased Dollar General property located in Avoca, IA. Avoca is located less than forty miles east of the Omaha-Council Bluffs MSA. The 9,014 square foot Dollar General is strategically located along the trade area’s primary north-south thoroughfare less than one mile south of Interstate 80. The Dollar General was constructed in 2015. There are over fourteen years remaining on the Dollar General lease which expires on October 31, 2030. 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.
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 states.
Investment grade rated tenant (S&P: BBB)
Long term lease with over 14 years remaining
10% rental escalations in each renewal option period
Absolute triple net lease with no landlord responsibilities
New construction (2015)
Positioned less than one mile south of Interstate 80
Located along Walnut Street (Route 59) which is the primary north-south thoroughfare in the trade area
Concrete parking lot
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The Boulder Group
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