JUST LISTED: Dollar General Golden Valley (Kingman), AZ | $1.150M - 5.22% Cap Rate
5181 AZ-68
Golden Valley, AZ 86413
FOR SALE
NNN Property
Property Type:
Single Tenant Retail (NNN)Amount:
$1,150,000
Cap Rate:
5.22%Last Verified:
Mar 07, 2022
* Single-tenant Dollar General investment opportunity, offering ±6 years remaining on a double-net (NN) lease with two (2), five (5) year renewal options.
* Strong rental increases during each renewal option, with an approximately 18.7% increase during the first option period and 12% increase during the second option period. The first rental increase will provide a 97-basis point increase to the cap rate for a new investor.
* Dollar General (NYSE: DG) operates ±17,915 total stores in 46 states and plans to open 1,110 additional new stores in 2022. (Source: dollargeneral.com).
* Dollar General has an investment-grade S&P credit rating of “BBB.”
* Dollar General strategically positions its stores in rural and suburban locations to serve markets with limited shopping options. The company’s low-cost growth strategy allows it to grow aggressively. As a result, Dollar General leads in planned retail openings for 2022 in terms of both number of locations and total square feet (Source: GlobeSt.com, 2022).
* Dollar General is paying a low rent of $6.63 per square-foot.
* The property is located on a large, ±131,029 square-foot (±3.01 acre) parcel, which provides a new investor with future development opportunity.
* Less than 15 minutes east of the property is the city of Kingman, the county seat of Mohave County, with a population of over 32,000 (Source: Esri). Kingman is ideally located off America’s major East-West Corridor, Interstate Highway 40 and intersects Highway 93, which runs from Las Vegas to Phoenix. I-93 is also the future I-11 corridor running from Canada to Mexico.
* Nearby national retailers include Maverik, Chevron, Sonic, Subway, Family Dollar, and more.
