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Dollar General

307 Main Ave W, Deer River, MN 56636

Listing Price: $1,113,743

Cap Rate
7.80%
Tenant Name
Dollar General
Years Remaining On Lease
8.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$9.55

Investment Overview

Marcus & Millichap is pleased to present the Dollar General in Deer River, Minnesota.

The 9,100-square-foot building was built-to-suit for Dollar General in 2017, and sits on about 1.05 acres. Dollar General signed an original 15-year lease that commenced in November 2017 and set to expire in October 2032, leaving about nine years remaining on the base lease term. There are four, five-year renewal options available, each of which having a ten percent rent increase. The lease is absolute triple net, with the landlord having zero responsibilities. There is limited dollar store competition nearby, with the nearest Dollar General being nine-and-a-half miles away in Cohasset.

Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. Dollar General operates more than 19,200 stores across the continental United States. The company was founded in 1939 as J.L. Turner and Son and then in 1968 as Dollar General Corporation.

The company reports annual revenue in excess of $37.84 Billion, a 10.59 percent increase from 2022. There are more than 170,000 employees. The company is publicly traded on the New York Stock Exchange under the ticker symbol “DG” and is an S&P 500 Component with a S&P credit rating of BBB.

Investment Highlights

  • Absolute Net Lease | Zero Landlord Responsibilities
  • 2017 Build-to-Suit Construction
  • Original 15-Year Lease Commenced in November 2017
  • Currently Nine Years Remaining on the Base Lease Term
  • 10 Percent Rent Increases in Each of the Four, Five-Year Renewal Options
  • Limited Dollar Store Competition | Nearest Dollar General is Nine and a Half Miles Away
  • Close Proximity to Essentia Health-Deer River Hospital and Clinic | 24-Hour Hospital Care Clinic
  • Dollar General has Over 19,200 Locations | Publicly Traded (NYSE: DG) | Investment Grade Credit (S&P "BBB" Credit Rating)

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Discount

Dollar General

Listing Price: $1,113,743

Cap Rate
7.80%
Tenant Name
Dollar General
Years Remaining On Lease
8.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$9.55

Investment Highlights

  • Absolute Net Lease | Zero Landlord Responsibilities
  • 2017 Build-to-Suit Construction
  • Original 15-Year Lease Commenced in November 2017
  • Currently Nine Years Remaining on the Base Lease Term
  • 10 Percent Rent Increases in Each of the Four, Five-Year Renewal Options
  • Limited Dollar Store Competition | Nearest Dollar General is Nine and a Half Miles Away
  • Close Proximity to Essentia Health-Deer River Hospital and Clinic | 24-Hour Hospital Care Clinic
  • Dollar General has Over 19,200 Locations | Publicly Traded (NYSE: DG) | Investment Grade Credit (S&P "BBB" Credit Rating)

Investment Overview

Marcus & Millichap is pleased to present the Dollar General in Deer River, Minnesota. The 9,100-square-foot building was built-to-suit for Dollar General in 2017, and sits on about 1.05 acres. Dollar General signed an original 15-year lease that commenced in November 2017 and set to expire in October 2032, leaving about nine years remaining on the base lease term. There are four, five-year renewal options available, each of which having a ten percent rent increase. The lease is absolute triple net, with the landlord having zero responsibilities. There is limited dollar store competition nearby, with the nearest Dollar General being nine-and-a-half miles away in Cohasset. Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. Dollar General operates more than 19,200 stores across the continental United States. The company was founded in 1939 as J.L. Turner and Son and then in 1968 as Dollar General Corporation. The company reports annual revenue in excess of $37.84 Billion, a 10.59 percent increase from 2022. There are more than 170,000 employees. The company is publicly traded on the New York Stock Exchange under the ticker symbol “DG” and is an S&P 500 Component with a S&P credit rating of BBB.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

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