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DOLLAR GENERAL, Culver, OR

DOLLAR GENERAL

Price $2,071,000
Cap Rate 6.10%
NOI $126,360
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 Options
Year Built 2019
Building Size 9,100 SF
Lot Size 1.24 Acres (54,014 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
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

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 “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

NEW 2019 UPGRADED CONSTRUCTION
» Upgraded construction featuring brick facade
» Built to Dollar General’s exact specifications, demonstrating long-term commitment to the location
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is conveniently located on 1st Avenue, Culver’s primary thoroughfare and retail corridor. The property is close to well-known local retailers and is across from a Shell gas
station. The property has almost no competition as it is the only discount store in the area; the nearest dollar store is nine miles away in another city.

The property is centrally located in downtown Culver. The property is directly across from the Culver School District, which consists of three schools on a single 37-acre campus: Culver Elementary School, Culver Middle School, and Culver High School. The district has a total enrollment of 692 students and is one of Culver’s largest employers, with 110 employees. Additionally, the property is close to many of Culver’s industrial employers, including EartH2O, with 68 employees, and Mid-Columbia Lumber, with 78 employees. The property is also just minutes from Cove Palisades State Park and Lake Billy Chinook, which attract about a half million visitors a year.

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