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Dollar General | Absolute NNN Lease | Lexington, KY MSA

2800 US-60, Morehead, KY 40351

Listing Price: $1,334,833

Cap Rate
6.00%
Tenant Name
Dollar General
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$8.80

Investment Overview

Marcus & Millichap is pleased to present for sale a Dollar General single-tenant, triple-net investment offering in Morehead, Kentucky. Built in 2013, the property sits on 1.10 acres along U.S. Highway 60, which experiences approximately 7,800 vehicles-per-day . There is currently just under 7 years remaining on Dollar General’s original fifteen-year firm-term lease as well as five, five-year renewal option periods with 10 percent rental increases at the beginning of each option period. Located within Rowan County, the subject property is less than two miles away from Morehead State University, which has approximately 6,253 undergraduate students and roughly half of them live on campus. Over the past ten years, Morehead, Kentucky has experienced a 10% increase in population along with positive employment growth. Located just over an hour away is Lexington, Kentucky, which is home to the University of Kentucky and Transylvania University. Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • LOCATED ALONG U.S. HIGHWAY 60, WHICH EXPERIENCES 4,700+ VEHICLES-PER-DAY
  • LOCATED APPROXIMATELY ONE HOUR FROM LEXINGTON, KENTUCKY, THE 2ND LARGEST CITY IN THE STATE
  • LONG-TERM LEASE WITH +/- 7 YEARS REMAINING WITH FIVE, FIVE-YEAR OPTIONS TO RENEW
  • TAXES, INSURANCE, ROOF & STRUCTURE, AND PARKING LOT & MATINENANCE ARE ALL TENANT RESPONSIBILITIES
  • DOLLAR GENERAL IS AN INVESTMENT-GRADE & RECESSION-PROOF TENANT

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s) KY: 242197

    Kentucky

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Dollar General | Absolute NNN Lease | Lexington, KY MSA

Listing Price: $1,334,833

Cap Rate
6.00%
Tenant Name
Dollar General
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Absolute Net
Rent Per Square Feet
$8.80

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • LOCATED ALONG U.S. HIGHWAY 60, WHICH EXPERIENCES 4,700+ VEHICLES-PER-DAY
  • LOCATED APPROXIMATELY ONE HOUR FROM LEXINGTON, KENTUCKY, THE 2ND LARGEST CITY IN THE STATE
  • LONG-TERM LEASE WITH +/- 7 YEARS REMAINING WITH FIVE, FIVE-YEAR OPTIONS TO RENEW
  • TAXES, INSURANCE, ROOF & STRUCTURE, AND PARKING LOT & MATINENANCE ARE ALL TENANT RESPONSIBILITIES
  • DOLLAR GENERAL IS AN INVESTMENT-GRADE & RECESSION-PROOF TENANT

Investment Overview

Marcus & Millichap is pleased to present for sale a Dollar General single-tenant, triple-net investment offering in Morehead, Kentucky. Built in 2013, the property sits on 1.10 acres along U.S. Highway 60, which experiences approximately 7,800 vehicles-per-day . There is currently just under 7 years remaining on Dollar General’s original fifteen-year firm-term lease as well as five, five-year renewal option periods with 10 percent rental increases at the beginning of each option period. Located within Rowan County, the subject property is less than two miles away from Morehead State University, which has approximately 6,253 undergraduate students and roughly half of them live on campus. Over the past ten years, Morehead, Kentucky has experienced a 10% increase in population along with positive employment growth. Located just over an hour away is Lexington, Kentucky, which is home to the University of Kentucky and Transylvania University. Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s): KY: 242197

    Kentucky

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