JUST LISTED: Dollar General Surprise, AZ | Absolute NNN | $3.05M | S&P Credit Rating: BBB
17174 W Jomax Rd
Surprise, AZ 85387
FOR SALE
NNN Property
Property Type:
Single Tenant Retail (NNN)Amount:
$3,050,000
Cap Rate:
4.09%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).