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DOLLAR GENERAL, Montague Township, NJ

DOLLAR GENERAL

Price $1,980,000
Cap Rate 6.00%
NOI $118,755
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 2020
Building Size 9,100 SF
Lot Size 1.89 Acres (82,579 SF)
Status Available
Lead Broker Information ANDREW J. SCHWARTZ
Director
973.292.4624
dollargeneral.nj@cushwake.com

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
» No landlord management, making this asset an ideal investment opportunity for an out-of-area investor
» New 2020 construction built to Dollar General’s latest prototype

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s annual revenue exceeds $27.8 billion
» Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

EASILY ACCESSIBLE LOCATION IN POPULOUS AND AFFLUENT AREA
» 111,725 residents and an average househould income of $92,321 within 15 miles
of the property
» Located along U.S. Highway Route 206 (8,087 AADT), a primary north-south thoroughfare traversing Montague Township
» Projected 14 percent average household income increase within one mile of the site in the next five years, poising Montague Township for significant growth
» 21-foot pylon sign facing U.S. Highway Route 206, increasing traffic to the site

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS AND COMMUNITY HUBS
» Neighbored by Montague Elementary School (215 students)
» Three miles from Downtown Milford, increasing commuter traffic to the site
» Gateway to popular tourist attractions such as High Point State Park, Stokes State Forest, Space Farms Zoo & Museum, and Raymondskills Falls (New Jersey tourism generated $10.5 billion in 2018 revenue)
» Located within a one-hour drive of five different State Game Lands hunting grounds, attracting impactful amounts of outdoor recreationists to the area



Property Description

The property has an easily accessible location along U.S. Highway Route 206, a primary north-south thoroughfare traversing Montague Township. The site benefits from its central location in a populous and affluent area, with 111,725 residents living within a 15-mile radius of the location and an average household income of $92,321. The property is primed to grow along with the surrounding area, with a projected 14 percent average annual household income increase within one mile of the site in the next five years. Traffic to the site is also increased by the 21-foot pylon sign facing U.S. Highway Route 206.

The property is located within a one-hour drive of five different State Game Lands hunting grounds, attracting impactful amounts of outdoor recreationists to the area. Traffic to the site is also increased by its proximity to popular tourist attractions such as High Point State Park, Stokes State Forest, Space Farms Zoo & Museum, and Raymondskills Falls. The location is primed to serve a large tourist customer base, as New Jersey tourism generated $10.5 billion in 2018 revenue. The site also experiences increased traffic from its location neighboring Montague Elementary School (215 students) and its nearby access to several wellestablished local businesses and community hubs in Montague Township’s primary retail corridor. Commuter traffic to the site is increased by the location’s proximity to Downtown Milford, three miles away.

Contact Us About This Property



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