JUST LISTED: Dollar General Surprise, AZ | Absolute NNN | $3.05M | S&P Credit Rating: BBB

17174 W Jomax Rd Surprise, AZ 85387

17174 W Jomax Rd, Surprise, AZ, 85387
17174 W Jomax Rd, Surprise, AZ, 85387
Property Type:
Single Tenant Retail (NNN)
Cap Rate:
Last Verified:
May 10, 2022

Single-tenant Dollar General investment opportunity, offering ±12 years remaining on an absolute triple-net (NNN) lease with three (3), five (5) year renewal options. 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). Within three miles of the Property, estimated 2.91% annual population growth through 2026 (Source: Esri). The Property is located at the Desert Oasis, a growing community of ±1,900 homes in Surprise, Arizona. The City of Surprise is on target to add between 2,000-3,000 new single-family residences to its market each year for the next decade. By 2030, Surprise is estimated to grow from a population of almost 150,000 today to ±215,000, according to the Maricopa Association of Governments (Source: ma-firm.com). Arizona’s retail spending is up by 17% since before the pandemic, and the City of Surprise retail spending is up by an 24% over last year. Additionally, the City of Surprise is seeing tremendous interest in new business openings and new retail corridor development (Source: ma-firm.com).

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.