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Dollar General (Blue Ridge)

11946 Morganton Hwy, Morganton, GA 30560

Listing Price: $1,190,000

Cap Rate
6.25%
Tenant Name
Dollar General
Years Remaining On Lease
8.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$8.17

Investment Overview

8+ YEAR NNN BUILD-TO-SUIT DOLLAR GENERAL • Build-to-suit Dollar General located in Morganton (Blue Ridge), GA. • This store is 9,100 SF and opened in February 2014. • There are approximately 8+ years remaining on a 15-Year Corporate Guaranteed NNN Lease. • The lease is absolute NNN and tenant is 100% responsible for all expenses including taxes, CAM, insurance, roof and structure. • There is a 3% rent increase in Year 11 and 10% rent increases in each of the five, 5-year option periods. RARE 3% BASE TERM RENT INCREASE • This store contains a rare 3% rent increase in Year 11 (2025) on the initial lease term. • There are 10% rent increases in each of the five, 5-year option periods. BLUE RIDGE MOUNTAINS • Morganton (Blue Ridge), GA is situated about 80 miles North of Atlanta, GA and about 80 miles West of Chattanooga, TN. • Blue Ridge reservoir is 11 miles long and has 65 miles of shoreline, 25% of which is developed. • Lake Blue Ridge is one of the Southeast’s most popular and recognizable tourist and vacation destinations and is a favorite second home community for affluent Atlantans. • Lodging contributes over $33 Million to the economy and visitors spend over $170.5 Million annually. LAKE BLUE RIDGE LOCATION • The subject property is well located at a pin corner less than one half mile from Lake Blue Ridge, which is lined with mansions, recreational boat ramps, and marinas. • The property is located 1.5 miles from Hwy 76 (22,600 VPD), a major highway that connects Chattanooga, TN to Wilmington, NC. • The 5-mile population has excellent growth of over 10% and the Average Household Income is nearly $60,000 which is superior to most Dollar General locations. • This store is only 5 miles from Blue Ridge’s primary retail corridor with national tenants including The Home Depot, Food Lion, Tractor Supply, TJ Maxx, Ingles and more. • The University of North Georgia’s Blue Ridge campus is only 3 miles away. The University of North Georgia has 6 campuses with a total of 20,000 students. 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 17,000 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.

Investment Highlights

  • 8+ Year NNN Build-To-Suit Dollar General
  • Rare 3% Base Term Rent Increase
  • Low Price Point Store
  • Attractive Blue Ridge Mountains Location
  • Investment Grade BBB Tenant | 17,000 + Locations

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

Listing Price: $1,190,000

Cap Rate
6.25%
Tenant Name
Dollar General
Years Remaining On Lease
8.0
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$8.17

Investment Highlights

  • 8+ Year NNN Build-To-Suit Dollar General
  • Rare 3% Base Term Rent Increase
  • Low Price Point Store
  • Attractive Blue Ridge Mountains Location
  • Investment Grade BBB Tenant | 17,000 + Locations

Investment Overview

8+ YEAR NNN BUILD-TO-SUIT DOLLAR GENERAL • Build-to-suit Dollar General located in Morganton (Blue Ridge), GA. • This store is 9,100 SF and opened in February 2014. • There are approximately 8+ years remaining on a 15-Year Corporate Guaranteed NNN Lease. • The lease is absolute NNN and tenant is 100% responsible for all expenses including taxes, CAM, insurance, roof and structure. • There is a 3% rent increase in Year 11 and 10% rent increases in each of the five, 5-year option periods. RARE 3% BASE TERM RENT INCREASE • This store contains a rare 3% rent increase in Year 11 (2025) on the initial lease term. • There are 10% rent increases in each of the five, 5-year option periods. BLUE RIDGE MOUNTAINS • Morganton (Blue Ridge), GA is situated about 80 miles North of Atlanta, GA and about 80 miles West of Chattanooga, TN. • Blue Ridge reservoir is 11 miles long and has 65 miles of shoreline, 25% of which is developed. • Lake Blue Ridge is one of the Southeast’s most popular and recognizable tourist and vacation destinations and is a favorite second home community for affluent Atlantans. • Lodging contributes over $33 Million to the economy and visitors spend over $170.5 Million annually. LAKE BLUE RIDGE LOCATION • The subject property is well located at a pin corner less than one half mile from Lake Blue Ridge, which is lined with mansions, recreational boat ramps, and marinas. • The property is located 1.5 miles from Hwy 76 (22,600 VPD), a major highway that connects Chattanooga, TN to Wilmington, NC. • The 5-mile population has excellent growth of over 10% and the Average Household Income is nearly $60,000 which is superior to most Dollar General locations. • This store is only 5 miles from Blue Ridge’s primary retail corridor with national tenants including The Home Depot, Food Lion, Tractor Supply, TJ Maxx, Ingles and more. • The University of North Georgia’s Blue Ridge campus is only 3 miles away. The University of North Georgia has 6 campuses with a total of 20,000 students. 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 17,000 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

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