Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Marketing Package
Representative Rendering
Absolute Net (NNN) Dollar GeneralState Road, NCLimited Nonresident Commercial Real Estate Broker
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
The Offering
Representative Photo
Representative Photo
National Brand RecognitionDollar General is the largest small-box discount retailer in the United States, with more than 15,000 stores in 45 states and an annual revenue of more than $23 billion.
Investment Grade GuaranteeThe lease is guaranteed by Dollar General Corporation (NYSE: DG), a Fortune 500 company with an investment grade credit rating of ‘BBB’ (S&P).
New 15-Year Absolute-Net LeaseThis property is subject to a brand new 15-year Absolute-Net (NNN) Lease, which provides passive investment to the landlord and holds the tenant responsible for all maintenance and expenses.
Value-Focused Retailer with Decades of SuccessDollar General has reported growth for 28 consecutive years, most recently with a 3.7% increase in same-store sales in Q2 2018.
Recession Resistant Tenant Dollar General is a leader among low price-point retailers and thrives in middle-America markets where incomes may be modest and population density may be less infill.
INVESTMENT HIGHLIGHTS
$1,442,046
6.45%
$93,012
$158.47
$10.22
Tony Anderson
(424) 325-2615
SUBMIT OFFER
FINANCIAL SUMMARYPurchase Price
Cap Rate
Net Operating Income
Price / SF
Rent / SF
Listing Agent
Phone Number
Dollar General
1545 W Forest Drive
State Road
NC
28676
N/A
9,100 SF
1.6 AC
2019
PROPERTY INFOTenant
Street Address
City
State
Zip
APN
GLA
Lot Size
Year Built
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Lease Summary
Currently Under ConstructionEst. March 2019
Representative Photo
Close Proximity toStone Mountain State Park
INVESTMENT HIGHLIGHTSBrand New Build-to-Suit LocationThis property is a brand new build-to-suit location with delivery slated for February 2019.
Sizable ParcelThis Dollar General was constructed on a sizable, 1.6 Acre parcel, providing the investor with the benefit of more flexibility for redevelopment and an enhanced ability for future resale.
Excellent Site-Level VisibilityThe property benefits from its location directly off of U.S. Highway 21 with traffic counts of 8,600 vehicles per day.
Close Proximity to Major AttractionThis asset is located a short distance from Stone Mountain State Park, which is 14,351 AC that sees a countless amount of visitors per year for rock climbing, hiking and camping.
Tenant Reimburses
Tenant Responsible
Tenant Responsible
Corporate
Dollar General
Public (NYSE: DG)
79
14,700+
Real Estate Taxes
Insurance
Repairs & Maintenance
Lease Guarantor
Company Name
Ownership
Years in Business
Number of Locations
LEASE SUMMARYLease Type
Type of Ownership
Original Lease Term
Commencement Date
Lease Expiration
Term Remaining
Increases
Options
ROFR / ROFO
Absolute Net (NNN)
Fee Simple
15 Years
Est. March 2019
February 28, 2034
15 Years
10% in Each Option
Four, Five-Year Options
No
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Rent Schedule
Representative Rendering
6.45%
7.10%
7.80%
8.58%
9.44%
10.39%
$10.22
$11.24
$12.37
$13.60
$14.96
$16.46
-
10%
10%
10%
10%
10%
$7,751.00
$8,526.10
$9,378.71
$10,316.58
$11,348.24
$12,483.06
$93,012.00
$102,313.20
$112,544.52
$123,798.97
$136,178.87
$149,796.76
Base Term
1st Option
2nd Option
3rd Option
4th Option
5th Option
Years 1-15
Years 16-20
Years 21-25
Years 26-30
Years 31-35
Years 36-40
CAP RATERENT / SFINCREASEMONTHLY RENTANNUAL RENT PERIODRent Schedule
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
About the Brand
Representative Photo
Dollar General ThrivesEven in a Hot Economy
Find Out Why
RECENT NEWSStrong Q2 in 2018Dollar General’s net sales increased 10.6% to $6.4 billion in the second quarter of 2018 and same-store sales increased 3.7% from the previous year.
15,000th Store MilestoneOn July 14, 2018, Dollar General celebrated the grand opening of the company’s 15,000th store.
1,100 Stores Added in the Past Year“These new store openings combined with our successful remodels and relocations have allowed us to extend our runway for long-term growth.” - Todd Vasos, CEO of Dollar General
2017 SalesThe Dollar General Corporation had a total of $23.5 billion in sales in 2017.
ABOUT THE BRANDBrand HistoryFounded in 1955, Dollar General has grown from a single wholesale store to the country’s largest small-box retailer.
Brand OverviewDollar General is proud to be America’s neighborhood general store and is dedicated to providing life’s necessities at an affordable price.
Dollar General’s value-focused approach of providing customers with household necessities at a price 20-40% lower than competitors has allowed the company to excel in low-income markets.
Even in a hot economy, Dollar General’s core customers remain loyal and do not trade up, which has contributed to the company’s growth regardless of the state of the economy.
Locations Nationwide
15,000+
States
45
Fortune 500 Company
Ranked #123
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
STATE ROAD, NCSurry CountyState Road is apart of Surry County, which has a population of nearly 73,000 people. Surry County offers various cultural attractions, urban amenities and a low-cost business environment.
Middle-America MarketThe median household income in Surry County is just below $40,000, making it the ideal market for a Dollar General to thrive in.
Neighboring SchoolsThe subject property is within two miles of Bridges Academy and there are an additional two elementary schools five miles from the subject property.
LOCATION OVERVIEWWinston-Salem, North Carolina The city of Winston-Salem has a population of over 245,000 people and is less than 50 miles from State Road. One of the main attractions of the city, Old Salem Museum, has 450,000 annual visitors.
BB&T BallparkOnly 50 miles from the property is the most-visited venue in Minor League Baseball since 2014, BB&T Ballpark. The ballpark is home to the Charlotte Knights who average over 9,000 fans per game.
Less than 80 miles from Charlotte, North CarolinaThe sixth largest urban area in the United Sates, Charlotte, is just 80 miles from the subject property. Charlotte is the most highly populated city in North Carolina with over 860,000 people.
BB&T BallparkHome to Charlotte Knights
Surry County, NC73,000 residents
Location Overview
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Retail Aerial
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Site Plan
Representative Photo
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Demographics
Surry CountyState Road is apart of Surry County, which has a population of nearly 73,000 people. Surry County offers various cultural attractions, urban amenities and a low-cost business environment.
10 MILE
30,908
31,150
31,576
5 MILE
11,722
11,747
11,588
3 MILE
4,038
4,048
4,003
1 MILE
859
859
845
DEMOGRAPHICSPOPULATION
2023 Projection
2018 Estimate
2010 Census
10 MILE
12,504
12,601
12,784
$54,562
$38,381
5 MILE
4,792
4,803
4,748
$57,103
$40,670
3 MILE
1,638
1,643
1,634
$58,217
$44,075
1 MILE
341
341
337
$53,570
$41,805
HOUSEHOLDS
2023 Projection
2018 Estimate
2010 Census
HOUSEHOLDS
Avg. HH Income
Med. HH Income
Less than 80 miles from Charlotte, North CarolinaThe sixth largest urban area in the United Sates, Charlotte, is just 80 miles from the subject property. Charlotte is the most highly populated city in North Carolina with over 860,000 people.
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
DISCLAIMERThe information contained in this Marketing Brochure has been obtained from sources believed to be reliable. However, James Capital Advisors, Inc. & Jeremy Just (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property.
The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.
A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.
CONFIDENTIALITYThis Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.
RELEASEThis Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property.
NON-ENDORSEMENTBroker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.
Disclaimer
Brand New Dollar General
1545 W Forest Dr, State Road, NC 28676
James Capital Advisors
Contact Information
Contact Information
Representative Rendering
SUBMIT OFFER
Jeremy JustBlacktide Real Estate Advisors, LLC
NC RE Lic. 304753
Tony AndersonLimited Nonresident Commercial Real Estate Broker
(424) [email protected] RE Lic. LC697
If you are selling real estate, you may want to “list”
to represent you in your dealings with buyers as your seller’s agent
Be sure to read and understand the listing agreement
Duties to Seller:promote your best interests be loyal to you follow your lawful instructions provide you with all material facts that
use reasonable skill, care and diligence, and account for all monies they handle for
about you to prospective buyers or their agents without your until you sign
the listing agreement, you should avoid telling the listing agent anything you would not want a buyer to know
Services and Compensation: To help you sell your
helping you price your property advertising and marketing your property giving you all required property disclosure forms for you to complete negotiating for you the best possible price and terms reviewing all written offers with you and
represent only you (as a buyer’s agentwilling for them to represent both you and the seller at the same time (as a dual agentthem represent only the seller (seller’s agent or subagent
Duties to Buyer: represent you, they must promote your best interests be loyal to you follow your lawful instructions
decisions use reasonable skill, care and diligence, and
its agents to be your buyer’s agent, they may not give any
until you make this agreement with your buyer’s agent, you should avoid telling the agent anything you would not want a seller to know
Unwritten Agreements: To make sure that you and
method for determining the sales commission or fee and
to represent you andagency relationship” is most likely to happen if an agent
buyer’s agent with
occurs and you have not already agreed to a dual agency relationship in your listing agreement, your listing agent will ask you to amend your listing agreement to permit the
dual agent to advance the dual
agentAlthough the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain
option (when available) may allow each “designated agent”
If you choose the “dual agency” option, remember that since a dual agent’s loyalty is divided between parties with competing interests, it is especially important that you have a clear understanding of what your relationship is with the dual agent and what the agent will be doing for
When buying real estate, you may have several
hen buying or selling real estate, you may
times the same agents work for both the buyer and the
is representing you as your agent or simply assisting
This brochure addresses the various types of
It should help you decide which relationship you want
useful information about the various services real estate
agents can provide buyers and sellers, and it will help
Agents are required to review this with you and must retain
By signing, I acknowledge that the agent named below
Buyer or Seller Name (Print or Type)
Buyer or Seller Signature
Buyer or Seller Name (Print or Type)
Buyer or Seller Signature
Date
Firm Name
Agent Name License Number
(Complete, if applicable)When showing you property and assisting you in the
represent the SELLER. For more information, see “Seller’s Agent Working with a Buyer” in the brochure.
Buyer’s Initials Acknowledging Disclosure:
Agent Name
License Number
Firm Name
Date
8/22/2018
Jeremy Just 304753
Blacktide Real Estate Advisors
dual agentdual agents
dual agent’s
dual agent
buyer agencybuyer agent
seller’s agent
buyer’s agent
buyer’s agent
Services and Compensation: buyer’s agent
buyer’s agent
buyer’s agent
buyer’s agent
buyer’s agent
dual agent
dual agent
seller’s agent
in writingsellers’ agents
seller’s agentnot
Sellers’ agents
(Note: This brochure is for informational purposes only and does not constitute a contract for service.)
00,000 copies of this public document were printed at a cost of $.000 per copy.
Scan the code above to access the Commission Web site from your mobile devices.
Jeremy Just
(Complete, if applicable)When showing you property and assisting you in the
represent the SELLER. For more information, see “Seller’s Agent Working with a Buyer” in the brochure. Agent’s Initials Acknowledging Disclosure: JJ
