dollar general stnl investment...dollar general stnl investment 11656 highway 56 n, clinton, sc...

DOLLAR GENERAL STNL INVESTMENT

In-Demand Absolute NNN Investment

11656 Highway 56 N, Clinton, SC 29325

6.75% CAP Rate

$1,117,600

• +/- 9,100 SF Pre-Engineered Metal Free-Standing Retail Building With Concrete Block Front Exterior Located On +/- 1.12 Acres

• 15-Yr Absolute NNN lease Commenced May 26, 2014

• 5, 5-Year Options With 10% Escalations Per Option

• Laurens County Tax Parcel 636-00-00-042

W W W . S P E N C E R H I N E S . C O MCOMMERCIAL REAL ESTATE SALES, LEASING, & INVESTMENTS

380 S. Pine Street, Spartanburg, SC 29302 - 864.583.1001

Robbie Romeiser - 864.706.0877 [email protected]

No warranty or representation, expressed or implied, is made to the accuracy of

the information contained herein, and the same is submitted subject to

errors, omissions, change of price, rental or other conditions, imposed by the

principles.

http://www.wendys.com/


http://www.spencerhines.com/



Robbie Romeiser - [email protected]

Investment Overview

Lease Summary

Tenant: Dolgencorp, LLCGuarantor: Dollar General CorporationLease Type: Absolute NNN LeaseLease Start: May 26, 2014Lease End: May 31, 2029Bumps: None during initial termOptions: Five, 5-year optionsOpt. Bumps: 10% per option period

No warranty or representation, expressed or implied, is made to the accuracy of

the information contained herein, and the same is submitted subject to

errors, omissions, change of price, rental or other conditions, imposed by the

principles.

W W W . S P E N C E R H I N E S . C O M

COMMERCIAL REAL ESTATE SALES, LEASING, & INVESTMENTS


Spencer/Hines Properties is pleased to present this +/- 9,100 SF Dollar General store located in Clinton, SC. The property is encumbered with a fifteen (15) year Absolute NNN Lease, leaving zero landlord responsibilities. The initial term has just over eight (8) years remaining, and the lease contains five, 5-year options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation, which holds an S&P credit rating of “BBB” and a Moody’s credit rating of Baa2.

This Dollar General is strategically positioned along SC Hwy 56 in Clinton, SC with a traffic count of 5,840 CPD (2020 MPSI Estimate). ZF Transmissions (2300 Employees | Automotive), Laurens County School District 55 (1100 Employees | Education), and WalMart Distribution (858 Employees | Distribution) make up the top three employers in Clinton. Other top employers include Yanfang (815 Employees | Automotive), Sterilite Corporation (450 Employees | Industry), Laurens County Hospital (465 Employees | Healthcare), Laurens County School District 56 Clinton (450 Employees | Education), Country Fresh (430 Employees | Food Manufacturing), and Presbyterian College (374 Employees | Education).

The population within a five-mile radius of the Subject Property is nearly 14,000, with the average household income within the same five-mile radius being just over $52,000. The Subject Offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a strong Dollar General asset. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. The listing price reflects a 6.75% Cap Rate based on annual NOI of $75,438.00.







Tenant Information

Dollar General commands a chain of 16,720 stores in 46 states as of July 31, 2020. Offering basic household items, such as cleaning supplies, health and beauty aids, as well as some apparel and food, it targets low-, middle-, and fixed-income shoppers.

Cal Turner founded J. L. Turner & Son, Inc. in 1939, and opened the first Dollar General store in Scottsville, Kentucky in June 1955. Since then the company has grown into the country’s largest small-box discount retailer. Stores are generally located in small towns off the radar of giant discounters. Its big-city stores are situated in lower-income neighborhoods.

In 2007 Kohlberg Kravis Roberts & Co. (KKR) acquired Dollar General, privatized the company for restructuring, and took the company public again in 2009. The company ranks 119th within the Fortune 500 Companies for Fiscal 2019. Fiscal 2019 net sales were $27.8 billion with net income of $1.7 billion.

The company’s estimated market value as of August 2, 2019 was $34.3 billion.




Representative Photo

Representative Photo





Site Plan








ALTA Survey








Aerial - Boundary








Aerial – As Built








Aerial – Nearby








Aerial – Nearby (Zoomed Out)








Demographics (Provided by CoStar Group)





dollar general stnl investment...dollar general stnl investment 11656 highway 56 n, clinton, sc...

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