4525 Cleveland Highway Cohutta (Chattanooga MSA), GA
Building Size: 7,500 SF
Lot Size:0.83 AC
ATTRACTIVE LOW RENT AND PRICE POINT • This Dollar General is paying a low $38,290 per year ($5.10/SF) in rent and is attractively priced at $511,000, which is less than half the price of most Dollar Generals.
CHATTANOOGA MSA • This Dollar General is 30 miles Southeast of Chattanooga, TN on Hwy 71 (8,250 VPD). • Chattanooga is the fourth largest city in Tennessee with a population of over 170,000 people. • Chattanooga is one of the South’s top travel destinations, with the New York Times naming Chattanooga one of the “Top 45 Places to Go.” • Chattanooga’s affordable cost of living with one of the area’s lowest tax rates as well as the Volkswagen plant has boosted the area’s labor force. • There is no state property tax in Tennessee.
NEAR DALTON, GA • Subject property is located on Hwy 71 (8,250 VPD), 12 miles North of Dalton, GA. • Dalton is the county seat of Whitfield county located just off Interstate 75 in the foothills of the Blue Ridge Mountains and is the second largest city in Northwest Georgia. • Dalton is known as “The Carpet Capital of the World” and is home to 90% of the world’s carpet production. • Dalton houses over 150 carpet plants employing approximately 30,000 people, and future job growth is predicted to be 36.74% over the next 10 years. • Dalton is home to Dalton State College (5,987+ Students). Dalton and Whitfield County School districts include 34 schools with over 17,929 students. • The 5-Mile population for this Dollar General is 15,083 with 5.40% growth and the Average Household Income is $76,227 which is superior to most Dollar General locations.
INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 17,000 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.
RECENTLY EXTENDED LEASE • The subject property is a 7,500 SF Dollar General that has been operating at this location since 1998 (23 years). • In 2019 Dollar General extended their lease to 2025 showing their commitment to this location. • There are 4 years remaining on a 6-year extension with two, 5-year option periods remaining, each with 9.5% rent increases. • The lease is NN with the Tenant responsible for Tax Increases, Insurance, Utilities, and HVAC repairs below $250. Landlord is responsible for Roof, Structure, Parking Lot and HVAC repairs over $250.