x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Dollar General, Cleveland, TX

Dollar General

TX, United States

Price $1,255,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 3% Rental Increase After Year 10 and 10% Rental Increases in Options
Year Built 2014
Building Size 9,026 SF
Lot Size 1.93 Acres (84,152 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in intial term and option periods, providing a hedge against inflation

ABSOLUTE TRIPLE NET LEASE
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH SRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $20 billion
» Dollar General operates 13,000 locations in 43 states and has plans for significant future growth

HOUSTON MSA LOCATION WITH LARGE PRIMARY TRADE AREA
» Cleveland has a primary trade area of over 81,400 people
» The Houston MSA added approximately 159,000 residents between 2014 and 2015, the largest gain of any metro area in the U.S.
» The Houston MSA is the fifth-largest MSA in the U.S. and is home to more than 6.5 million people

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on Fostoria Road, with excellent access and visibility to 4,350 vehicles per day. Access to U.S. Highway 59/Interstate 69 is approximately a mile from the site down Fostoria Road. The highway has a high traffic count of 45,410 vehicles per day. The highway connects Cleveland to surrounding areas, including downtown Houston, and allows Cleveland to serve its large retail trade area of over 81,400 people. Situated approximately seven miles outside of downtown Cleveland, the property benefits from its close proximity to many single-family homes. These residential neighborhoods provide a strong customer base for Dollar General.

Contact Us About This Property

Mike & Scott Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link