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SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment grade (S&P: BBB), corporate guaranteed, Dollar General investment property located in Hopewell, Virginia. The tenant, Dolgencorp, LLC, recently executed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed (S&P: BBB) and is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Dollar General is currently under construction and is estimated to open for business by Spring 2020.
Dollar General is located along State Highway 10, a major commuter thoroughfare averaging 4,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign, providing ease and convenience for customers. With zero grocery/convenience stores within 5 miles of the property, Dollar General virtually has no competition, creating a large residential consumer base from which to draw. Dollar General is an American chain of variety stores that has become one of the most profitable stores in the rural United States with revenue reaching around $21 billion in 2017. The company plans to open 1,000 new stores across the U.S. in 2020, expanding its presence to 46 states throughout the country. The asset is located 7 miles east of Hopewell, the 26th largest city in the state with more than 22,500 residents according to the most recent United States census estimates (2020). The 10-mile trade area is supported by more than 58,000 residents and 21,300 daytime employees. Residents within 3 miles of the subject property boast a healthy $97,000 average household income.
Brand New 15-Year Lease | Corporate Guaranteed | Investment Grade Tenant | Scheduled Rental Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Located Along State Highway 10 | Excellent Visibility | Strong Operator | Extremely Limited Competition
Strong Demographics in 10-Mile Trade Area
Broker of Record