Cap Rate
7.35%
Year Built
2024
Leasable Area
11,680 SF
Term Remaining
±9.5 YRS
Property Type
Retail
LEAD LISTING AGENT
Email
josh.bishop@matthews.com
License No.
688810 (TX)
Direct
+1 (214) 692-2289
Mobile
+1 (315) 730-6228
INVESTMENT HIGHLIGHTS
LEASE & LOCATION
- 2024 Remodel: The subject property was retrofitted for a Dollar General Market store in 2024. The remodel included a brand new roof which is accompanied by a 15-year warranty, as well as a brand new HVAC system.
- Dollar General Market: Dollar General Market stores are DG’s grocery concept and confirm that they are projecting a large sales volume at the location.10%
- Rental Increases: The lease features attractive 10% increases every 5-years for the life of the lease (Base term + Options)
- Long-Term Lease: 10-year initial lease term with Four, 5-Year Extension Options, ensuring long-term income potential.
- Prime Highway Location: Located at 10020 NW US 24, Silver Lake, KS, along U.S. Highway 24, providing high visibility and daily traffic flow.
- Large Lot & Building Size: 1.38-acre lot (60,000 sq. ft.) with a spacious 11,680 sq. ft. building.
- Minimal Landlord Responsibilities: Landlord is responsible for roof, structure, and parking lot replacement. Tenant shall reimburse LL for parking lot maintenance. Tenant is responsible for taxes, insurance, and HVAC.
TENANT HIGHLIGHTS
- Corporate-Backed Lease: Lease guaranteed by DG Retail, LLC (Dollar General), a subsidiary of the Fortune 500 company.
- Essential Retailer: Dollar General is a recession-resistant business offering everyday essentials.
- Investment-Grade Credit: Rated BBB (S&P), reinforcing its financial stability and reliability.
- Expanding Footprint: With 19,000+ locations nationwide, Dollar General continues to grow as one of the leading discount retailers.
Broker of Record
- Kyle Matthews
- License No. #CO00002672 (KS)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203