Dollar General

Dollar General

TBD Springs Road
Conover (Charlotte MSA), NC

Price: $1,561,000
Cap: 6.25%
NOI: $97,560
Building Size: 9,100 SF
Lot Size: 1.73 AC

Investment Highlights

NEW UPGRADED CONSTRUCTION STORE
• Brand New 9,100 SF Build-to-suit Dollar General in Conover, NC.
• This store has newly upgraded construction, consisting of two-sided masonry façade improvements and is scheduled for delivery October 2020..

ATTRACTIVE DEMOGRAPHIC LOCATION
• The 5-mile population is 44,889 and the average household income is $71,613 which is superior to most Dollar General locations. This Dollar General sits at the intersection of Springs Road (11,000 VPD) and Houston Mill Road (2,700 VPD) which is 8 miles from Downtown Conover and Hickory.
• Hickory is home to many leading furniture manufacturers and approximately 60% of the nation’s furniture used to be produced within a 200-mile radius.
• Hickory is home to Lenoir-Rhyne University, a private liberal arts university founded in 1891 with 3 campuses totaling over 2,500 students and faculty.

CHARLOTTE METROPOLITAN AREA
• Conover is well located 60 miles West of Winston-Salem, 80 miles East of Asheville, 50 miles Northwest of Charlotte and is part of the Charlotte Metropolitan Area.
• Charlotte is the largest city in North Carolina and the second largest in the southeast.
• Charlotte is home to more than 10 Fortune 1000 companies, including Bank of America, Lowe’s and Wachovia Corp.
• The city is also home to the Carolina Panthers, the Charlotte Hornets, the NASCAR Hall of Fame and the U.S. National Whitewater Center.
• Charlotte Douglas International Airport was ranked the fifth busiest airport in the U.S.

LONG TERM CORPORATE NNN LEASE
• Brand new, 15-year Corporate Guaranteed Lease with Dollar General.
• The Tenant is 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure.
• There are 10% rent increase in each of the four, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company and is BBB investment grade rated.
• There are currently over 16,000+ locations in 45 states and 975 new locations expected to be opened this year.
• Dollar General has been in business for 80 years and has a current net worth of over $6 billion.

Don McMinn
OFFERING MEMORANDUM

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