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Dollar General / All Sports

297 NJ-31, Washington, NJ 07882

Listing Price: $1,491,195

Cap Rate
7.05%
Tenant Name
Dollar General
Years Remaining On Lease
5.7
Gross SF
12,347
Guarantor
Corporate Guarantee
Rentable SF
12,347
Price/Gross SF
$120.77
Lease Type
Double Net
Rent Per Square Feet
$8.76

Investment Overview

The subject property is a two-tenant retail center located in Washington, New Jersey. The building was a retrofit for Dollar General in 2011 and they occupy 10,692 square feet while the second tenant, All Sports, occupies approximately 1,600 square feet. There was a recent five-year extension executed by Dollar General demonstrating their commitment to the location. All Sports was the previous occupant of the building and downsized their space when Dollar General came in. All Sports currently has a lease through February 2022 with two renewal options remaining. There is also a third source of income on the property which is generated by A & E Clothing Corporation. They pay $300 per month and have been utilizing this space for their business for approximately 7 years now. Dollar General is under a NN Lease agreement which limits the landlord to roof, structure and parking lot responsibilities. They contribute $810.77 per month towards CAM and fully reimburse for their pro-rata share of snow and ice removal. Dollar General also reimburses for their pro-rate share of real estate taxes and insurance. All sports is responsible for their pro-rate share of snow and ice removal. The store is positioned on a 2 acre parcel on a highway that sees more than 15,000 vehicles per day. There are more than 16,000 people within a three mile radius and more than 98,000 people within a ten mile radius. The subject property is positioned across the street from a multi-tenant retail center parcel and Hawk Point Townhomes which is a 55+ community located on Hawk Pointe Golf Course. Other nearby tenants include but are not limited to Burger King, McDonalds, Dunkin Donuts, ShopRite, Enterprise, 7-Eleven as well as other local business and multiple car dealerships.

Investment Highlights

  • Two-Tenant Retail Location - Dollar General (NN) & All Sports (Modified Gross)
  • 2011 Retrofit Dollar General Prototype
  • Large 10,692 Square Foot Dollar General
  • Recent Five-Year Lease Extension Demonstrating Commitment to the Location
  • Dollar General Contributes $811 per Month Towards CAM
  • Snow Removal is Fully Reimbursed (Pro-Rata Share: DG - 86.6% / All Sports 13.4%)
  • Large 2.1 Acre Parcel
  • Site Sees More Than 15,000 Vehicles Per Day

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s) NJ: 1434917

    New Jersey

Discount

Dollar General / All Sports

Listing Price: $1,491,195

Cap Rate
7.05%
Tenant Name
Dollar General
Years Remaining On Lease
5.7
Gross SF
12,347
Guarantor
Corporate Guarantee
Rentable SF
12,347
Price/Gross SF
$120.77
Lease Type
Double Net
Rent Per Square Feet
$8.76

Investment Highlights

  • Two-Tenant Retail Location - Dollar General (NN) & All Sports (Modified Gross)
  • 2011 Retrofit Dollar General Prototype
  • Large 10,692 Square Foot Dollar General
  • Recent Five-Year Lease Extension Demonstrating Commitment to the Location
  • Dollar General Contributes $811 per Month Towards CAM
  • Snow Removal is Fully Reimbursed (Pro-Rata Share: DG - 86.6% / All Sports 13.4%)
  • Large 2.1 Acre Parcel
  • Site Sees More Than 15,000 Vehicles Per Day

Investment Overview

The subject property is a two-tenant retail center located in Washington, New Jersey. The building was a retrofit for Dollar General in 2011 and they occupy 10,692 square feet while the second tenant, All Sports, occupies approximately 1,600 square feet. There was a recent five-year extension executed by Dollar General demonstrating their commitment to the location. All Sports was the previous occupant of the building and downsized their space when Dollar General came in. All Sports currently has a lease through February 2022 with two renewal options remaining. There is also a third source of income on the property which is generated by A & E Clothing Corporation. They pay $300 per month and have been utilizing this space for their business for approximately 7 years now. Dollar General is under a NN Lease agreement which limits the landlord to roof, structure and parking lot responsibilities. They contribute $810.77 per month towards CAM and fully reimburse for their pro-rata share of snow and ice removal. Dollar General also reimburses for their pro-rate share of real estate taxes and insurance. All sports is responsible for their pro-rate share of snow and ice removal. The store is positioned on a 2 acre parcel on a highway that sees more than 15,000 vehicles per day. There are more than 16,000 people within a three mile radius and more than 98,000 people within a ten mile radius. The subject property is positioned across the street from a multi-tenant retail center parcel and Hawk Point Townhomes which is a 55+ community located on Hawk Pointe Golf Course. Other nearby tenants include but are not limited to Burger King, McDonalds, Dunkin Donuts, ShopRite, Enterprise, 7-Eleven as well as other local business and multiple car dealerships.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s): NJ: 1434917

    New Jersey

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