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Dollar General, Wildwood, NJ

Dollar General

Price $2,714,000
Cap Rate 5.65%
NOI $153,312
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Maintenance, and Repair, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases in Option Periods
Year Built 2018
Building Size 7,646 SF
Lot Size 0.45 Acres (19,602 SF)
Status Available
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

Investment Highlights

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in option periods, providing a hedge against inflation
» New 2018 upgraded construction with corner entry and wainscoting

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 STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $21 billion
» Dollar General operates 14,000 locations in 44 states and has plans for significant future growth

DOWNTOWN LOCATION NEAR LARGE SCHOOLS, MAJOR EMPLOYERS, AND POPULAR RECREATIONAL AREAS
» Excellent visibility and access at signalized hard corner
» Within walking distance of downtown Wildwood’s retail district, which features a healthy mix of local retailers, hotels, and tourist attractions
» Wildwood Middle and High School, with 421 students, and Glenwood Avenue Elementary (462 students) are just a few blocks from the property
» Close to Morey’s Piers, three theme parks that have 1,500 employees and are visited by 3.5 million people each year
» Minutes from United States Coast Guard Training Center Cape May, which trains 3,500 new recruits annually



Property Description

The property is conveniently located at the signalized intersection of Spencer Avenue and New Jersey Avenue, with excellent visibility and access to 10,711 vehicles per day directly in front of the property. The property is within walking distance of downtown Wildwood’s retail district, which features a healthy mix of local retailers, hotels, and tourist attractions. A number of national and regional retailers are located near the property, including Rite Aid, Acme Markets, CVS, McDonald’s, Wawa, and more. The property is also a short drive from several large shopping centers in nearby Rio Grande, which are tenanted by national brands like Lowe’s, Walmart, PetSmart, Ross, GameStop, Aldi, and Bed Bath & Beyond, amongst others.

The property benefits from its close proximity to several schools, major employers, and popular recreational areas. Wildwood Middle and High School, with 421 students, and Glenwood Avenue Elementary (462 students) are just a few blocks from the property. The property is within walking distance of Morey’s Piers. The three theme parks have 1,500 employees and are visited by 3.5 million people each year. Additionally, the property is near other major recreational areas, including Wildwood’s beaches, Byrne Community Center, and Wildwood Convention Center.

Contact Us About This Property

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