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Dollar General, Independence, MO

Dollar General

Price $1,522,000
Cap Rate 6.25% return (7.24% average cap rate)
NOI $95,112
Lease Term 15 Years
Lease Type 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 2019
Building Size 7,500 SF
Lot Size 0.75 acres (32,668 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

NEW 15-YEAR NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”), rated “BBB” by Standard & Poor’s
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot

HIGH-EXPOSURE LOCATION WITH LARGE CUSTOMER BASE
» Hard corner location with visibility and access to 12,000 vehicles per day
» One block from Highway 78 (26,291 AADT), one of Independence’s main commercial, retail, and transportation corridors
» Centrally located just one mile from downtown Independence, home to many of the city’s tourist attractions and annual festivals
» Located in a densely populated area, with 156,678 residents living within a five-mile radius

NEW 2019 UPGRADED CONSTRUCTION
» Upgraded construction with brick facade and corner entry
» New construction scheduled to be completed in late 2019

LOCATED IN AN OPPORTUNITY ZONE WITH TAX INCENTIVES
» Opportunity Zones were created as a result of the 2017 Tax Cuts and Jobs Act to encourage investors to reinvest capital gains, which can come from any investment—including stocks, bonds, real estate and partnership interests—into these zones
» Investors are able to invest in qualified Opportunity Zones through an investment called an Opportunity Fund, which provides both temporary and long-term tax deferrals for eligible investors
» No taxes on 10% of gains after five years, 15% of gains after seven years, and 100% of gains after ten years



Property Description

The property is conveniently located at the hard corner of South Crysler Avenue and West South Avenue, with excellent visibility and access to 12,000 vehicles per day. The property is approximately one block from Highway 78 (26,291 AADT), one of Independence’s main commercial, retail, and transportation corridors. A number of major national and regional retailers are located a short distance from the property, including CVS, Aldi, Burger King, Walgreens, Price Chopper, Subway, Boost Mobile, Advance Auto Parts, and many others.

The property is centrally located just one mile from downtown Independence, home to many of the city’s tourist attractions and annual festivals. In the heart of downtown Independence, Historic
Independence Square is undergoing a renaissance, with substantial increase in private investment and a restoration of the Historic Jackson County Courthouse. The traditional town square offers
unique shops, restaurants, loft-style apartments, and a newly renovated cinema and bowling alley. Additionally, the property benefits from its location in a densely populated area, with 156,678 residents living within a five-mile radius.

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