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DOLLAR GENERAL, Port Elizabeth, NJ

DOLLAR GENERAL

Price $2,180,000
Cap Rate 6.00%
NOI $130,796
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases in Option Periods
Year Built 2019
Building Size 9,100 SF
Lot Size 2 Acres (87,151 SF)
Status Under Contract
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Andrew J. Schwartz
Director
973.292.4624
dollargeneral.nj@cushwake.com

Investment Highlights

15-YEAR NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» 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
» New 2019 upgraded construction built to Dollar General’s latest prototype

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $27.8 billion
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

HIGH-TRAFFIC LOCATION NEAR PROMINENT RECREATIONAL ATTRACTIONS
» Excellent visibility and access to 17,459 vehicles per day directly in front of the location on State Route 47, a major thoroughfare connecting Northern and Southern New Jersey
» Across the street from Maurice River Township Elementary School (418 students)
» Centralized location at the confluence of New Jersey Motorsports Park (500,000+ annual visitors), Belleplain State Forest (410,000+ annual visitors), Natural Lands’ Glades Wildlife Refuge, and Delaware Bay (second busiest U.S. waterway)
» Gateway to Atlantic City (27 million annual visitors, $2.86 billion generated in annual gaming revenue)



Property Description

The property is conveniently located on New Jersey State Route 47, with excellent visibility and access to 17,459 vehicles per day directly in front of the location. Visibility is increased by the site’s location along a major North-South thoroughfare, as Route 47 connects the Northern and Southern tips of New Jersey. The property is across the street from Maurice River Township Elementary School (418 students) and surrounded by a strong mixture of local businesses and residential amenities. The site is centrally located at the confluence of New Jersey Motorsports Park (500,000+ annual visitors), Belleplain State Forest (410,000+ annual visitors), Natural Lands’ Glades Wildlife Refuge, and Delaware Bay, which is the second busiest U.S. waterway. The location also serves as a gateway to Atlantic City, which experiences 27 million annual visitors and generated $2.86 billion in gaming revenue in 2018.

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