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Dollar General & Gold's Gym | NNN Leases | 100% Occupied Two-Tenant Center

1840 E Main St, Montrose, CO 81401

Listing Price: $5,233,550

Cap Rate
7.30%
Tenant Name
Dollar General & Gold's Gym
Years Remaining On Lease
10.0
Guarantor
Corporate Guarantee
Rentable SF
42,094
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.08

Investment Overview

This e-commerce resistant, passive investment opportunity offers a purchaser two nationally recognized, household name tenants.

The corporate guaranteed Dollar General just extended their lease for another 5 years, showing their commitment to this location, having occupied the site since 2006. Gold’s Gym is offering a new 10 year NNN sale leaseback with 10% rent bumps every 5 years, to commence upon close of escrow. Both tenants are on NNN Leases and all CAMs pass thru to the tenant making this acquisition a true sleep-at-night opportunity.

The location was completely renovated in 2013, and the Gold’s Gym expanded their presence by taking over the remaining adjacent vacant space in 2017 due to the locations popularity. The site also received over $350,000 toward common area improvements in 2022, including a brand new parking lot.

Gold's Gym has been the world's trusted fitness authority since 1965. From its humble beginnings as a small gym in Venice, California, Gold's Gym has grown into a global icon with nearly 740 locations serving 3 million people across six continents each day.

Dollar General (NYSE: DG) is a chain of more than 19,000+ discount stores in 47 states, with more than 158,000 employees, located primarily in the South, East, Midwest, and Southwest, offering basic household items, such as cleaning supplies, health, and beauty aids, apparel, and food.

Investment Highlights

  • Strong National E-Commerce Resistant Tenancy, 100% Occupied Center
  • NNN Leases
  • Dollar General Offers a Strong Investment Grade Corporate Guaranty and Gold's Gym is Backed by an Experienced Local Operator
  • Committed to the Location, Dollar General has been at this site since 2006 and has just executed a new 5 yr lease extension, and Gold's Gym wishes to sign a new 10 yr lease at COE
  • ONLY Dollar General in Montrose - the average household income meets the Dollar Store target market ONLY Nationally Branded Gym in Montrose - strong membership of 2,600+/- (Nat'l average is 1,500 members)
  • Pride of Ownership - The site was completely renovated in 2013 and received $350k in renovations in 2022, including a new parking lot
  • Located in the Heart of Montrose, with High Traffic Counts of over 17,000 vehicles passing by the site daily

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Financing By

Discount

Dollar General & Gold's Gym | NNN Leases | 100% Occupied Two-Tenant Center

Listing Price: $5,233,550

Cap Rate
7.30%
Tenant Name
Dollar General & Gold's Gym
Years Remaining On Lease
10.0
Guarantor
Corporate Guarantee
Rentable SF
42,094
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.08

Investment Highlights

  • Strong National E-Commerce Resistant Tenancy, 100% Occupied Center
  • NNN Leases
  • Dollar General Offers a Strong Investment Grade Corporate Guaranty and Gold's Gym is Backed by an Experienced Local Operator
  • Committed to the Location, Dollar General has been at this site since 2006 and has just executed a new 5 yr lease extension, and Gold's Gym wishes to sign a new 10 yr lease at COE
  • ONLY Dollar General in Montrose - the average household income meets the Dollar Store target market ONLY Nationally Branded Gym in Montrose - strong membership of 2,600+/- (Nat'l average is 1,500 members)
  • Pride of Ownership - The site was completely renovated in 2013 and received $350k in renovations in 2022, including a new parking lot
  • Located in the Heart of Montrose, with High Traffic Counts of over 17,000 vehicles passing by the site daily

Investment Overview

This e-commerce resistant, passive investment opportunity offers a purchaser two nationally recognized, household name tenants. The corporate guaranteed Dollar General just extended their lease for another 5 years, showing their commitment to this location, having occupied the site since 2006. Gold’s Gym is offering a new 10 year NNN sale leaseback with 10% rent bumps every 5 years, to commence upon close of escrow. Both tenants are on NNN Leases and all CAMs pass thru to the tenant making this acquisition a true sleep-at-night opportunity. The location was completely renovated in 2013, and the Gold’s Gym expanded their presence by taking over the remaining adjacent vacant space in 2017 due to the locations popularity. The site also received over $350,000 toward common area improvements in 2022, including a brand new parking lot. Gold's Gym has been the world's trusted fitness authority since 1965. From its humble beginnings as a small gym in Venice, California, Gold's Gym has grown into a global icon with nearly 740 locations serving 3 million people across six continents each day. Dollar General (NYSE: DG) is a chain of more than 19,000+ discount stores in 47 states, with more than 158,000 employees, located primarily in the South, East, Midwest, and Southwest, offering basic household items, such as cleaning supplies, health, and beauty aids, apparel, and food.

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

Financing By

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