Marcus & Millichap is pleased to present the exclusive net lease offering for a Dollar General located at 1719 W. Washington Street in Charleston, West Virginia. The property consists of 12,635 square feet of building space and is situated on a 1.41-acre parcel.
This investment is subject to an original 12-year double-net (NN) lease that will commence on September 1, 2021. This is a corporate location and is guaranteed by Dollar General corporate (NYSE: DG), which has an investment grade credit rating (S&P BBB, Stable). The base rent is $85,000 and is subject to ten percent (10.00%) rental escalations in each tenant renewal option. Tenant shall be entitled to extend the term of the lease for four successive periods of five years each.
Founded in Goodlettsville, Tennessee, 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 17,000 stores in 46 states Dollar General is among the largest discount retailer.
About the Investment
Located in Downtown Charleston, WV | Former Rite Aid Property with Phenomenal Exposure and Strong Traffic Counts (Over 18,000 Vehicles Per Day)
Long-Term, 12-Year Double Net (NN) Lease
Rent Set to Commence September 1, 2021
Ten Percent (10%) Rental Increases Occurring in Each Renewal Option
Four (4), Five (5)-Year Tenant Renewal Options
About the Location
Downtown Dollar General Location | Prime Target Market | Average Household Income Exceeding $70,300 Within a Ten-Mile Radius
Charleston’s Main Retail Corridor | Ace Hardware, Big Lots, AutoZone, Taco Bell, Subway, Pizza Hut, in the Immediate Area Along with Ford, Toyota, and Subaru Dealerships
Strong Demographics | Population Exceeds 69,727 Individuals Within a Five-Mile Radius | Above Average For Dollar General
Academic Presence| 12 Schools within a 10-Mile Radius | Over 3,800 Total Students Enrolled
About the Tenant / Brand
Well-Suited against Covid-19 with Grocery-Related Products and Low Price-Points in Recessionary Times
Lease Guaranteed by Dollar General Corporate (NYSE: DG) | 17,000+ Locations in 46 States
Only Dollar Store With Investment Grade Credit (S&P:BBB)
29 Consecutive Years of Same-Store Sales Growth
Dollar General has Opened ~1,000 Stores in Each of the Last Three Years