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812 N Walnut Street - Dollar General, Avoca, IA

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DetailMap
812 N Walnut Street - Dollar General

Avoca, IA 51521-3539 - E Pottawattamie County Submarket

(1.2 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2015
Building Size:9,100 SF Land Area:2 AC (87,120 SF)
For Sale Price:$1,326,958 Price/SF:$145.82
Cap Rate:6.40 %
Portfolio:This property is for sale (for $20,967,117) as part of a portfolio of 17 properties.



Sale Notes:

EXECUTIVE SUMMARY:
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

INVESTMENT HIGHLIGHTS:

The Boulder Group
Randy Blankstein
(847) 562-0003

Jimmy Goodman
(847) 562-8500




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