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Dollar General, Houma, LA

Dollar General

Houma, LA

Price $1,336,000
Cap Rate 7.75%
NOI $103,548
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Maintenance, and Repair, Including Roof, Structure, and Parking Lot
Rental Increases 3% Rental Increase After Year 11 and 10% Rental Increases in Each Option Period
Year Built 2014
Building Size 9,100 SF
Lot Size 1.21 Acres (52,646 SF)
Status Available
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

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Louisiana-licensed real estate broker Beau Box Commercial Real Estate.

Investment Highlights

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in primary 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 STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $21.9 billion
» Dollar General operates 14,000 locations in 43 states and has plans for significant future growth

PRIME LOCATION IN LOUISIANA’S BAYOU REGION
» Less than seven miles from downtown Houma and the 230-bed Terrebonne General Medical Center
» Affluent demographics, with an average household income of $99,719 within a three-mile radius of the property
» The Bayou Region is consistently ranked one of the strongest regional economies in the nation
» Forbes ranked the region in the top 35% of metro areas for job growth in 2013

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located on Bayou Black Drive, the primary route through the area. The property faces minimal competition from retailers in the immediate area and is close to important community amenities and employers, including Bayou Black Elementary and a natural gas compression plant operated by Williams Pipeline Company. The property also benefits from an affluent customer base, with an average household income of $99,719 within a three-mile radius and an average household income of $98,166 within a five-mile radius.

The property is located less than seven miles from downtown Houma, and is close to the 230-bed Terrebonne General Medical Center, the Houma-Terrebonne Airport, and Houma’s industrial region, which is home to some of the area’s largest employers. Southland Mall is just minutes away, as are notable national retailers, including Walmart Supercenter, Home Depot, Target, Lowe’s, Hobby Lobby, Academy Sports + Outdoors, and many others.

Contact Us About This Property

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