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Dollar General

Martin, South Dakota

INVESTMENT SUMMARY
Marcus & Millichap is pleased to present the exclusive listing for a Dollar General located at 217 Bennett Avenue in Martin, South Dakota. The property consists of approximately 9,100 square feet of building space and is situated on roughly 1.01 acres of land.
The Dollar General opened in January 2020 and is subject to a 15-year absolute triple-net (NNN) lease. This lease commenced on January 27, 2020 and expires on January 31, 2035. The current annual rent is $91,677 and is scheduled to increase 10% in each of the five, five-year tenant renewal option periods. Founded in Goodlettsville, Tennessee, Dollar General Corporation has been delivering value to shoppers for over 75 years. With over 15,000 stores in 45 states Dollar General is among the largest discount retailer.

About Dollar General
Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With over 15,000 stores in 45 states Dollar General is among the largest discount retailers.
The company acquired the 280 stores of the P.N. Hirsh Division of Interco, Inc.(now Heritage Home Group) in 1983, and in 1985 added 206 stores and a warehouse from Eagle Family Discount Stores, also from Interco, Inc. In recent years, the chain has started constructing more stand-alone stores, typically in areas not served by another general-merchandise retailer. In some cases, stores are within a few city blocks of each other.
Dollar General offers both name brand and generic merchandise — including off-brand goods and closeouts of name-brand items — in the same store, often on the same shelf. Although it has the word “dollar” in the name, Dollar General is not a dollar store. Most of its products are priced at more than $1.00. However, goods are usually sold at set price points the range of .50 to 60 dollars, not counting phone cards and loadable store gift cards. In the United States. In addition to high quality private brands, Dollar General sells products from America’s most-trusted manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.
Dollar General often serves communities that are too small for Walmart stores (although many locations are in relatively close driving distance to a Walmart store or in the same communities that Walmart is located). It competes in the dollar store format with national chains Family Dollar and Dollar Tree, regional chains such as Fred’s in the southeast, and numerous independently owned stores.

Key Details

Price:
$1,455,190
Cap Rate:
6.30%
Annual Rent:
$91,677
Address:
217 West Bennett Avenue, Martin, South Dakota 57551
Property Type:
Net-Lease Dollar Store
Lease Type:
Triple-Net (NNN)

Original Lease Term:
15
Lease Term Remaining:
14
Rental Increases:
10% Each Option Period
Lot Size:
+/- 1.01 Acres
Building Size:
9,100 SF
Tenant:
Dollar General

Broker of record

Todd Lindblom

License: 0511964


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