[ REPRESENTATIVE PHOTO ]
NNN Zero Landlord ResponsibilitiesLow rent of only $0.80/ft monthlyTown has low unemployment of 2.7%Caledonia Avenue & 5th Street SW, Hillsboro, ND 58045
dollar generalBrand New Construction
Click for Map
[ www.CapitalPacific.com ]
ReNtAble SF . . . . . . . . . . . 9,002 SFPRiCe PeR SF . . . . . . . . . . . $142.53CuRReNt ReNt . . . . . . . . $9.62/SF
PRICE: $1,283,022CAP: 6.75%
investment highlights
[ REPRESENTATIVE PHOTO ]
NEw NNN DollAR GENERAl IN HIllsboRo, ND wHERE tHE uNEmPloymENt RAtE Is just
2.7% AND tHE AvERAGE HousEHolD INComE Is wEll AbovE tHE NAtIoNAl AvERAGE. tHIs
Is tHE oNly DollAR stoRE IN towN.
RICK [email protected] | (415) 274-2709CA BRE# 01792433
John [email protected] | (415) 274-2715CA BRE# 01440360
Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.
Listing Team Contact Info
aaron [email protected] | (415) 481-0377CA BRE# 01440360
dollar general | 2
ProPerty HigHligHtsThe site is in Hillsboro, ND (see demographics on page 10). The followingare unemployment rates according to Homefacts.com as of August, 2016:
Hillsboro 2.7%National: 5.5%
Since 2012, unemployment in Hillsboro has consistently been less than the U.S. average, and occasionally even less than half of the national average.
investment grade CreditDollar General’s credit is BBB and the company’s credit rating has been raised five times since 2009, most recently in October, 2015. Dollar General has a better credit rating than both of its large competitors.
strong tenantDuring fiscal 2015, Dollar General opened about 730 new stores and has plans to open more in fiscal year 2016. Dollar General has more stores (12,483 +) than any other dollar store in the country and is currently the largest dollar store chain. In the 6+ years since going public in late 2009, the Dollar General stock price has approximately quadrupled (from $21 to$83).
In fiscal 2015, the tenant achieved its 26th consecutive year of same-store sales growth.
lease HigHligHts
• A new 15-year NNN lease with four 5- year options.
• Increases in the base term and options.
• Low rent of only $0.80/ft monthly.
• Brand new construction.
• Corporate guaranteed lease.
core characteristics
ATTRACTIVE FINANCING AVAILABLE:
Up to 75% Leverage5 Year Fixed – 3.98% - 25 Year Amortization10 year Fixed – 4.58% - 25 year Amortization
0.25% Loan Fee plus 3rd party appraisal & title*Contact Agents for Details
[ REPRESENTATIVE PHOTO ]dollar general | 3
aerial
7th Avenue SW
6th
Stre
et N
W6t
h St
reet
SW
e Caledonia Avenue
W Caledonia Avenue
Post
Roa
d
1st Street Ne
1st Street Se
5th Street SW
Main Street
29
29
200
200
81
81
Hillsboro High School
Hillsboro elementary
CITY OF HILLSBORO
GOOSE RIVER GOLF COURSE
FARGO
CATS-COMMUNITY ACTOR THEATER • SAPPHIRE’S • OUR TOWN BAKERY FARMERS
UNION INSURANCE • HILLSBORO BANNER
HILLSBORO BODY SHOP
HILLSBORO LUMBER
HAMM’S A&R BAR
FULL SERVICE FOODS
HILLSBORO INN
RENO’S SPORTS BAR • PAUL’S HOMETOWN REPAIR • GRANNY’S BAR & GRILL • CHICKEN SCRATCH
BAKERY • THE OTHER PLACE
CITY OF HILLSBORO
dollar general | 4
[ REPRESENTATIVE PHOTO ]
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
income & expense
PRICE $1,283,022 Price Per Square Foot: $142.53
Capitalization Rate: 6.75%
Total Rentable Area (SF): 9,002
Lot Size (AC): 0.82
STABILIZED INCOME Per Square FootScheduled Rent $9.62 $86,604
Effective Gross Income $9.62 $86,604
LESS Per Square FootTaxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $86,604
[ REPRESENTATIVE PHOTO ]
dollar general | 5
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll
TENANT INFO LEASE TERMS RENT SUMMARY
Tenant Name Sq. Ft. Term Current Rent
Monthly Rent
Yearly Rent
Monthly Rent/FT
Yearly Rent/FT
Dollar General 9,002 03/03/17 03/02/27 $86,604 $7,217 $86,604 $0.80 $9.62
03/03/27 03/02/32 $7,433 $89,196 $0.83 $9.91
Option 1 03/03/32 03/02/37 $8,177 $98,124 $0.91 $10.90
Option 2 03/03/37 03/02/42 $8,994 $107,928 $1.00 $11.99
Option 3 03/03/42 03/02/47 $9,894 $118,728 $1.10 $13.19
Option 4 03/03/47 03/02/52 $10,883 $130,596 $1.21 $14.51
totals: 9,002 $86,604 $7,217 $86,604 $0.80 $9.62
[ REPRESENTATIVE PHOTO ]
dollar general | 6
Site PlAN Key
PARCEL OUTLINE:
LAND AREA: 0.82 AC
BUILDING AREA: 9,002 SF
INGRESS/EGRESS:
site plan
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
5th Street SW
W C
aled
onia
Ave
nue
dollar general | 7
COMPANy tyPe: PublIC (NysE: DG)
FiSCAl 2015 SAleS $20.4 bIllIoN
S&P 500 CReDit RAtiNG bbb (see next page)
2015 FORtuNe 500 #159
NuMbeR OF StOReS 12,483
dollar general is the country’s largest
small-box discount retailer
ABOUT DOLLAR GENERALDollar General (NYSE: DG) is a chain of more than 12,483 discount stores in 43 states, primarily in the South, East, Midwest, and Southwest. Offering basic household items, such as cleaning supplies, health and beauty aids, apparel, and food, it targets low, middle, and fixed-income shoppers.
The company has grown into the country’s largest small-box discount retailer. Stores are often located in small towns off the radar of giant discounters. One of Dollar General’s main advantages is that it offers prices as low or lower than Walmart but in more convenient locations. Dollar General has more stores than any other retailer and is easily the largest dollar store chain.
The company ranks 159th within the Fortune 500 list. Fiscal 2015 revenues exceeded $20.4 billion with a net income of $1.17 billion, and net worth of $5.3 billion. On March 10, 2016 Dollar General reported its fourth quarter and full year 2015 financial results. The report was quite good and the stock price rose on the news. The fiscal quarter reported in May 2016 was also very strong. As of June 1st, the stock price is up 20% YTD to a 52-week high.
Dollar General enjoys a strong credit rating, see next page.
[ REPRESENTATIVE PHOTO ][ REPRESENTATIVE PHOTO ]
tenant overview
dollar general | 8
THE THREE LARGEST DOLLAR STORE CHAINS, RANkED BY 2015 REvENUE, ARE:
DOLLAR GENERAL
FAMILY DOLLAR
DOLLAR TREE
2
3
1
ABOUT THE STRONG DOLLAR GENERAL CREDIT RATING
In July, 2015, Family Dollar was acquired by Dollar Tree and ceased to be a public company.
Dollar Tree took on billions of dollars of debt to acquire Family Dollar, and that negatively impacted the credit rating of both of these companies. Moreover, Family Dollar, as a subsidiary of Dollar Tree, no longer issues separate financial statements.
The best known rating agency, Standard & Poor’s, downgraded Family Dollar in July, with Dollar Tree having already been downgraded.
The combined Dollar Tree-Family Dollar entity will have approximately the same amount of revenue as Dollar General, but more debt, hence the lower credit rating.
dollar general is now the only dollar store chain with an investment grade rating. dollar general has been credit-upgraded five times since going public in 2009, most recently in october, 2015. it is now rated “BBB” by standard & Poor’s, and it has an equivalent rating from moody’s.
[ REPRESENTATIVE PHOTO ][ REPRESENTATIVE PHOTO ]
tenant credit rating
dollar general | 9
AbOut HillSbORO, ND
Hillsboro is the county seat of Traill County, North Dakota, sitting in the fertile Red River valley. Local agriculture has dominated the area’s economy for many years.
With its location on Interstate 29, halfway between the two metropolitan centers of Greater Grand Forks and Fargo-Moorhead, Hillsboro has seen steady population growth in recent years and has become somewhat of a bedroom community.
lubbock 106 Miles, 1 Hour 35 Min
location & demographics
DOllAR GeNeRAl MARKet lOCAtiON
ReGiONAl MAP
POPULATION
2015 HOUSEHOLD INCOMES
1-mile 3-mile 5-mile
2010 1,659 1,780 1,9502015 1,827 1,958 2,1412021 1,933 2,070 2,261
1-mile 3-mile 5-mile
Average $62,399 $63,728 $65,271Median $48,606 $49,669 $50,499
HILLSBORO
41 MIN42 MILES
FARGOdollar general | 10
A unique HUMANRESULTS-DRIVEN client experience
tHe CAPitAl PACiFiC exPeRieNCe - OuR DAily COMMitMeNt tO OuR ClieNtS
[ www.CapitalPacific.com ]
[ REPRESENTATIVE PHOTO ]
[ Copyright © 2016 Capital Pacific ]
CHRiS KOStANeCKi
CHRiS PeteRS
DAve luCAS
zANDy SMitH
jACK NAvARRA
zeb RiPPle
jOHN ANDReiNi
jOe CACCAMO
GReGG Steele
KARlA zeNS
Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.RiCK SANNeR
[email protected] | (415) 274-2709 CA BRE# 01792433
jOHN [email protected] | (415) 274-2715 CA BRE# 01440360
AARON [email protected] | (415) 481-0377 CA BRE# 01961568
