Investment Offering
Sherburn, MN - Dollar General
400 State Highway 4 N | Sherburn, MN 56171
$1,314,000
Price6.65%
Cap Rate1
± SF Offering GLA1.07
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building) in a newly constructed, freestanding, corporate guaranteed, absolute NNN, single tenant, Dollar General located in Silver Lake, MN. The lease is guaranteed by the corporate company, Dollar General Corp. (NYSE: DG), with an S&P investment grade credit rating of BBB. The tenant recently executed a brand new long-term 15-year lease with (5-year) option periods, demonstrating their long-term commitment to the location. The lease features rental increases at the beginning of each 5-year option period, which generates steady NOI growth and hedges against inflation. The Dollar General is slated to open in July of this year.
Location
The Dollar General is located along State Hwy 4 with excellent visibility on a hard corner. The highway is the primary thoroughfare throughout the city of Sherburn. Additionally, the site serves approximately 1,955 customers with an average household income of $67,833 which is an ideal demographic for a Dollar General store.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215