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Dollar General, New Castle, PA

Dollar General

Price $1,564,000
Cap Rate 6.65%
NOI $103,984
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance
Rental Increases 10% Rental Increases In Option Periods
Year Built 2019
Building Size 9,100 SF
Lot Size 2.17 Acres (94,525 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
» No landlord management, making this asset an ideal investment opportunity for an out-of-area investor
» 2019 construction featuring latest Dollar General 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
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

EASILY ACCESSIBLE LOCATION IN DENSELY POPULATED AND AFFLUENT AREA
» 3,411 vehicles per day directly in front of the location on one of New Castle’s most highly trafficked thoroughfares, Perry Highway
» Located along U.S. Route 19, a major north-south interstate highway connecting Florida and Pennsylvania
» Located in an affluent area with an average household income of $82,978 within one mile of the property
» 21-foot lighted pylon sign facing Perry Highway, increasing visibility to the site

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Located between Pittsburgh (28 miles), which has the second-largest metropolitan population in Pennsylvania and 27th largest in the U.S., and Lake Erie (100 miles), which
has a $40.6 million annual economic impact in Pennsylvania and 11 million annual visitors
» Surrounded by a strong mix of well-established local retailers, increasing traffic to the site
» Minutes from multiple parks, State Game Lands, and camping sites, including State Game Lands #151, State Game Lands #284, and Slippery Rock Campground (summer home to over 1,000 families)



Property Description

The property is at an easily accessible location along Perry Highway, one of New Castle’s most highly trafficked thoroughfares with visibility and access to 3,411 vehicles per day. The site is located along U.S. Route 19, a major north-south interstate highway connecting Florida and Pennsylvania. The location also resides in a densely populated and affluent area. 71,465 people live within a 10-mile radius of the site, and the average household income within one mile of the property is $82,978. Visibility to the site is increased by its lighted 21-foot pylon sign, which faces Perry Highway.

The property is located just minutes from several recreational areas and tourist attractions, including State Game Lands #151, State Game Lands #284, and Slippery Rock Campground (summer home to over 1,000 families). Traffic to the site is increased by its proximity to a strong mix of well-established local retailers. The location also serves as a gateway to Pittsburgh, the second-largest metropolitan population in Pennsylvania and 27th largest in the U.S.

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