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Dollar General

1000 N Broadway, Miller, SD 57362

Listing Price: $1,351,104

Cap Rate
6.25%
Tenant Name
Dollar General
Years Remaining On Lease
9.1
Gross SF
9,026
Guarantor
Corporate Guarantee
Rentable SF
9,026
Price/Gross SF
$149.69
Lease Type
Absolute Net
Rent Per Square Feet
$9.36

Investment Overview

Marcus & Millichap is pleased to present the corporate Dollar General located at 1000 N Broadway, Miller, South Dakota. The property was recently constructed in 2015 as a build-to-suit for Dollar General. This 9,026 square foot building is situated on a 1.40 acre lot. The tenant, Dollar General, has nine years remaining on the base lease term with four, five-year options to renew. There is a three percent rent increase scheduled in September 2025 and ten percent rent increases in each option period. Dollar General is subject to a corporately-guaranteed Absolute Net lease with no landlord responsibilities. Dollar General (NYSE: DG, S&P BBB). has been delivering value to shoppers for more than 80 years. Dollar General helps shoppers Save time. Save money. Every day.® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 17,266 stores in 46 states as of February 26, 2021. In addition to high-quality private brands, Dollar General sells products from America’s most-trusted manufacturers. Dollar General stands for convenience, quality brands and low prices. Dollar General’s stores aim to make shopping a hassle-free experience. We design small, neighborhood stores with carefully -edited merchandise assortments to make shopping simpler. This Dollar General property is strategically located with excellent visibility on Broadway on the outskirts of Downtown Miller. The property also benefits from being the only Dollar Store within forty-five miles and very little retail competition. The immediate trade area is home to a small Grocer, Dairy Queen, Subway, NAPA Auto Parts, Shell and Sinclair Gas Stations, as well as a Super 8 Motel. Dollar General is also positioned less than a mile away from Avera Hand County Memorial Hospital, City Hall and Miller Public High School. Miller, South Dakota is situated 131 miles west of Sioux Falls and is the county seat of Hand County. There is an average household income exceeding $73,000 within a fifteen-mile radius. South Dakota is an income tax free state. This Dollar General property provides an investor with a stabilized investment grade asset with zero landlord responsibilities.

Investment Highlights

  • Nine Years Remaining on Corporately Guaranteed, Absolute Net Lease
  • 3% Rent Increase in 2025 | 10% Rent Increases in Each Option
  • Investment Grade Tenant | Dollar General (S&P: BBB)
  • South Dakota is an Income Tax Free State
  • Excellent Visibility on N Broadway
  • Only Dollar Store within 45 Miles
  • Close Proximity to Avera Hand County Memorial Hospital, City Hall and Miller Public High School
  • Average Household Income Exceeding $73,000 Within a Fifteen-Mile Radius

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Listing Price: $1,351,104

Cap Rate
6.25%
Tenant Name
Dollar General
Years Remaining On Lease
9.1
Gross SF
9,026
Guarantor
Corporate Guarantee
Rentable SF
9,026
Price/Gross SF
$149.69
Lease Type
Absolute Net
Rent Per Square Feet
$9.36

Investment Highlights

  • Nine Years Remaining on Corporately Guaranteed, Absolute Net Lease
  • 3% Rent Increase in 2025 | 10% Rent Increases in Each Option
  • Investment Grade Tenant | Dollar General (S&P: BBB)
  • South Dakota is an Income Tax Free State
  • Excellent Visibility on N Broadway
  • Only Dollar Store within 45 Miles
  • Close Proximity to Avera Hand County Memorial Hospital, City Hall and Miller Public High School
  • Average Household Income Exceeding $73,000 Within a Fifteen-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the corporate Dollar General located at 1000 N Broadway, Miller, South Dakota. The property was recently constructed in 2015 as a build-to-suit for Dollar General. This 9,026 square foot building is situated on a 1.40 acre lot. The tenant, Dollar General, has nine years remaining on the base lease term with four, five-year options to renew. There is a three percent rent increase scheduled in September 2025 and ten percent rent increases in each option period. Dollar General is subject to a corporately-guaranteed Absolute Net lease with no landlord responsibilities. Dollar General (NYSE: DG, S&P BBB). has been delivering value to shoppers for more than 80 years. Dollar General helps shoppers Save time. Save money. Every day.® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 17,266 stores in 46 states as of February 26, 2021. In addition to high-quality private brands, Dollar General sells products from America’s most-trusted manufacturers. Dollar General stands for convenience, quality brands and low prices. Dollar General’s stores aim to make shopping a hassle-free experience. We design small, neighborhood stores with carefully -edited merchandise assortments to make shopping simpler. This Dollar General property is strategically located with excellent visibility on Broadway on the outskirts of Downtown Miller. The property also benefits from being the only Dollar Store within forty-five miles and very little retail competition. The immediate trade area is home to a small Grocer, Dairy Queen, Subway, NAPA Auto Parts, Shell and Sinclair Gas Stations, as well as a Super 8 Motel. Dollar General is also positioned less than a mile away from Avera Hand County Memorial Hospital, City Hall and Miller Public High School. Miller, South Dakota is situated 131 miles west of Sioux Falls and is the county seat of Hand County. There is an average household income exceeding $73,000 within a fifteen-mile radius. South Dakota is an income tax free state. This Dollar General property provides an investor with a stabilized investment grade asset with zero landlord responsibilities.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

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