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Dollar General, Erie, PA

Dollar General

Price $1,561,000
Cap Rate 6.50%
NOI $107,304
Lease Term 15 Years With 13+ Years Remaining
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 Years
Year Built 2018
Building Size 9,100 SF
Lot Size 1.39 Acres (60,548 SF)
Status Available
Lead Broker Information 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

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

15-YEAR ABSOLUTE 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

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 $25.6 billion
» Dollar General operates more than 15,000 locations in 44 states and has plans for significant future growth

HARD-CORNER LOCATION AT SIGNALIZED INTERSECTION
» Combined 16,641 vehicles per day directly in front of the location
» Easy accessibility to Interstate 90
» Near U.S. Route 20, a major east-west thoroughfare connecting Oregon and Massachusetts
» 144,911 residents within a five-mile radius

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS AND COMMUNITY HUBS
» Five miles from Lake Erie ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors)
» Close proximity to Erie Zoo (400,000+ annual visitors, $4 million annual revenue)
» Four miles from Saint Vincent Hospital (425 beds, 2,500 employees, $1.6 billion annual total patient revenue)
» Central location in Erie School District (combined 12,000+ students, 800+ teachers)
» Within five miles of three colleges with combined enrollment of 13,500+ students



Property Description

The property has a hard-corner location at the signalized four-way intersection formed by Wattsburg Road and East Gore Road, with excellent visibility and access to a combined 16,641 vehicles per day. The site has easy accessibility to Interstate 90 and U.S. Route 20, a major east-west thoroughfare through Pennsylvania connecting Oregon and Massachusetts. The location also resides in a densely populated area, with 144,911 people living within a five-mile radius of the site.

The property is located just minutes from several recreational areas and tourist attractions, including Lake Erie ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors) and Erie Zoo (400,000+ annual visitors, $4 million annual revenue). Visibility is increased by the site’s proximity to one of Erie’s primary health care providers, Saint Vincent Hospital, which features 425 beds, 2,500 employees, and generates $1.6 billion in annual total patient revenue. The property benefits from its centralized location in the Erie School District, which has a combined 12,000+ students and 800+ teachers. The location is also within five miles of three colleges (Mercyhurst University, Gannon University, Penn State Behrend) with a combined enrollment of 13,500+ students.

Contact Us About This Property

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