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Dollar General, Jeanerette, LA

Dollar General

Jeanerette, LA

Price $1,276,000
Cap Rate 6.85%
NOI $87,370
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 10% Rental Increases In Options
Year Built 2018
Building Size 9,100 SF
Lot Size 1.23 Acres (53,529 SF)
Status Under Contract
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

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in 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 has yearly revenues exceeding $21.9 billion
» Dollar General operates 14,000 locations in 44 states and has plans for significant future growth

HIGH-TRAFFIC, CENTRAL LOCATION
» Located on Old Spanish Trail, the main road between downtown Jeanerette and downtown New Iberia, with excellent visibility and access to 13,820 vehicles per day
» Convenient access to U.S. Highway 90 (26,073 AADT)
» Central location near several schools, a 122-bed hospital, and Louisiana State University’s Iberia Research Station

NEW 2018 CONSTRUCTION
» New building, limiting near-term deferred maintenance or capital costs
» Built-to-suit construction featuring latest Dollar General store design and concepts

Click Here to Download Offering Memorandum


Property Description

The property is located on Old Spanish Trail, the main road between downtown Jeanerette and downtown New Iberia, with excellent visibility and access to 13,820 vehicles per day. The property is just off of the signalized intersection of Old Spanish Trail and Darnall Road, with Darnall Road providing convenient access to U.S. Highway 90 (26,073 AADT). The property is centrally located just minutes from the downtown districts of Jeanerette and New Iberia, which feature notable national retailers such as True Value Hardware, Rite Aid, Winn-Dixie, NAPA Auto Parts, and Sonic Drive-In. Other major retailers in the area include Walmart Supercenter, T.J. Maxx, PetSmart, Office Depot, Boost Mobile, and many others.

The property also benefits from its close proximity to major schools, hospitals, and business centers. Several schools are located within a few miles of the property, including New Iberia High School (1,800 students), Catholic High School (835 students), and Jeanerette High School (464 students). The property is also a short distance from Iberia Medical Center, a 122-bed hospital. Additionally, the property is surrounded by several large industrial parks, including the Iberia Research Station, a 1,137-acre agricultural research station operated by Louisiana State University.

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