Property details
Colorado Dollar General For Sale, Southwest Region
Property Description
Colorado Dollar General For Sale
Dollar General NN (S&P Investment-Grade BBB- with a Stable Outlook), Corporate Guaranty (NYSE: DG). Three 5-year renewal options, each with a 10% rent increase.
This Store Opened With A Bang!
Per The Store Manager, Annual Sales Are $1.3M - $1.4M Annually.
The closest Walmarts 50 miles north and 40 miles south.
Located Right In Downtown of A Cole Mining Town.
County population is 7,800.
Outstanding Sales At This Store.
As of 6/18/13, Dollar General has over 10,700 stores in 40 states and Dollar General has more retail locations in the U.S. than any other retailer. On November 30th, 2012 Dollar General Corporation was added to the coveted S&P 500 which is made up of the most highly recognizable companies in the USA
Market Description:
Located in a classic prime market area for a dollar store as there is no big box discount store competition within convenient shopping distance of the area. The closest Walmarts 50 miles north and 40 miles south.
This store is in a region of 15 stores. It has consistently been the #2 or #3 store in sales in its region. The store's sales volume was strong immediately after opening. Dollar General's headquarters real estate executives said it achieved a much higher level of sales than anticipated the first summer it was open.
The store's location places it close to the other main retailers in the town. It is one-half block from the Safeway Grocery and 1.5 blocks from a Lumber Company/True Value Hardware. These are the two largest retail stores in the county. The majority of the county's population is west of town and come into town along a Highway which runs in front of the Dollar General, Safeway and the Hardware Store.
Images
Highlights
- Status:
- Withdrawn
- Price:
- $940,606
- PSF:
- $105
- Cap Rate:
- 8.25%
- Rent Increases:
- 10% increases in each option
Property Information
- Building Size:
- 8,998 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Retail
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Dollar General
- Lease Type:
- NN
- Lease Commencement:
- 06/01/2009
- Lease Expiration:
- 05/31/2019
- Lease Term:
- 10 years
- Lease Remaining:
- -5.5 years
- Landlord Responsibilities:
- Landlord is responsible for mechanical system repairs costing more than $1,000.00, repairs to the foundation and exterior of the building and parking lot. Landlord is responsible for landscaping maintenance. The property has no landscaping to maintain...
- Options:
- Three five-year options
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.