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Dollar General

1820 24th Ave, Meridian, MS 39301

Listing Price: $1,413,000

Cap Rate
7.00%
Tenant Name
Dollar General
Years Remaining On Lease
6.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$10.87

Investment Overview

2014 UPGRADED FULLY BRICK DOLLAR GENERAL
• This property is a 9,100 SF upgraded fully brick Dollar General Located in Meridian, MS.
• This store has been successfully operating at this location since September 2014.

INTERSTATE LOCATION
• This Dollar General is located 2 miles off Interstate 20 (55,000 VPD) on 24th Ave. (7,900 VPD).

STRONG NEARBY NATIONAL RETAIL
• The main retail corridor in Meridian is only 2 miles from this Dollar General.
• National Retailers include Lowe’s Home Improvement, Tractor Supply Co., Sam’s Club, ALDI, Hobby Lobby and many more.
• Uptown Meridian is 3 miles from the Dollar General which is a 650,000 SF center that offers over one hundred shopping venues, including department stores, specialty shops, restaurants, eateries, and United Artists Theatres.
• Retail is a major employer in the county, nearly $2 billion annually is spent on retail purchases in the city.

MERIDIAN
• Meridian is the 7th largest city in MS and is the county seat of Lauderdale County and the principal city of the Meridian, Mississippi Micropolitan Statistical Area.
• Meridian built an economy based on the railways and goods transported on them, and it became a strategic trading center. The city serves as a hub of employment, retail, health care, and culture activities.
• The area is also served by two military facilities, Naval Air Station Meridian and Key Field, which supply over 4,000 jobs to residents of the surrounding area.
• Meridian Regional Airport supports over 18,000 passengers annually and is home to the Mississippi Air National Guard’s 186th Air Refueling Wing.
• Home to multiple colleges and universities including Meridian Community College (3,435 Students) and Mississippi State University (7732 Students).

6 YEAR CORPORATE NNN LEASE
• There are over 6 years left on an original 15-year corporate guaranteed NNN Lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, parking lot, roof and structure.
• There are 10% rent increases in each of the Five, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 19,000 locations and expanding by 1,000 stores each year.
• Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion

Investment Highlights

  • 2014 Upgraded Fully Brick Dollar General
  • Interstate Location
  • Strong Nearby National Retail
  • Meridian
  • 6 Year Corporate NNN Lease
  • Investment Grade Tenant

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Financing By

Discount

Dollar General

Listing Price: $1,413,000

Cap Rate
7.00%
Tenant Name
Dollar General
Years Remaining On Lease
6.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$10.87

Investment Highlights

  • 2014 Upgraded Fully Brick Dollar General
  • Interstate Location
  • Strong Nearby National Retail
  • Meridian
  • 6 Year Corporate NNN Lease
  • Investment Grade Tenant

Investment Overview

2014 UPGRADED FULLY BRICK DOLLAR GENERAL • This property is a 9,100 SF upgraded fully brick Dollar General Located in Meridian, MS. • This store has been successfully operating at this location since September 2014. INTERSTATE LOCATION • This Dollar General is located 2 miles off Interstate 20 (55,000 VPD) on 24th Ave. (7,900 VPD). STRONG NEARBY NATIONAL RETAIL • The main retail corridor in Meridian is only 2 miles from this Dollar General. • National Retailers include Lowe’s Home Improvement, Tractor Supply Co., Sam’s Club, ALDI, Hobby Lobby and many more. • Uptown Meridian is 3 miles from the Dollar General which is a 650,000 SF center that offers over one hundred shopping venues, including department stores, specialty shops, restaurants, eateries, and United Artists Theatres. • Retail is a major employer in the county, nearly $2 billion annually is spent on retail purchases in the city. MERIDIAN • Meridian is the 7th largest city in MS and is the county seat of Lauderdale County and the principal city of the Meridian, Mississippi Micropolitan Statistical Area. • Meridian built an economy based on the railways and goods transported on them, and it became a strategic trading center. The city serves as a hub of employment, retail, health care, and culture activities. • The area is also served by two military facilities, Naval Air Station Meridian and Key Field, which supply over 4,000 jobs to residents of the surrounding area. • Meridian Regional Airport supports over 18,000 passengers annually and is home to the Mississippi Air National Guard’s 186th Air Refueling Wing. • Home to multiple colleges and universities including Meridian Community College (3,435 Students) and Mississippi State University (7732 Students). 6 YEAR CORPORATE NNN LEASE • There are over 6 years left on an original 15-year corporate guaranteed NNN Lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, parking lot, roof and structure. • There are 10% rent increases in each of the Five, 5-year option periods. INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 19,000 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

Financing By

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