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Dollar General, Meadville, PA

Dollar General

Price $1,500,000
Cap Rate 6.65%
NOI $99,744
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 1.54 Acres (67,083 SF)
Status Under Contract
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
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

Investment Highlights

<B>NEW 15-YEAR NNN LEASE WITH CORPORATE GUARANTY</B>
» 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 construction built to Dollar General’s latest prototype

<B>MAJOR NATIONAL TENANT WITH STRONG FINANCIALS</B>
» 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

<B>HIGH-TRAFIFIC LOCATION NEAR PROMINENT COMMUNITY HUBS AND RECREATIONAL ATTRACTIONS</B>
» Excellent visibility and access to 5,506 vehicles per day directly in front of the location on Cochranton Road
» 1.5 miles from Meadville Medical Center (235 beds, 1,450 employees, $737 million in total patient revenue)
» 2.1 miles from Downtown Meadville
» Minutes from well-known national tenants including Home Depot, Peebles, Giant Eagle, Dunham’s Sports, Five Guys, Save-A-Lot, Pizza Hut, KFC, AT&T, Sheetz, Holiday Inn Express, Cracker Barrel, and many others
» Within four miles of seven schools with combined enrollment of 4,295 students
» 44,000+ residents within a 10-mile radius

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Property Description

The property is conveniently located on the corner of McHenry Street and Cochranton Road, with excellent visibility and access to 5,506 vehicles per day directly in front of the site. Visibility is increased by the site’s location along a major east-west thoroughfare, U.S. Route 322, which connects Ohio and New Jersey. As well as its proximity to Interstate 79, which boasts a traffic count of 20,180 verhicles per day. The property is supported by a robust customer base, with 44,000+ residents living within a 10-mile radius of the location. As well as well-known national tenants including Home Depot, Peebles, Giant Eagle, Dunahm’s Sports, Five Guys, Save-A-Lot, Pizza Hut, KFC, AT&T, Sheetz, Holiday Inn Express, Cracker Barrel, and many others.

The site is centrally located at the confluence of several popular local and tourist attractions, including six different State Game Lands locations. The property resides within four miles of seven schools with a combined enrollment of 4,295 students. The location also benefits from being 1.5 miles from Meadville’s largest employer and primary health care provider, Meadville Medical Center, which features 235 beds, 1,450 employees, and generates $737 million in total patient revenue.

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