316 Hannah Drive Oliver Springs (Knoxville MSA), TN
Building Size: 12,480 SF
Lot Size:1.54 AC
ATTRACTIVE DOLLAR GENERAL PLUS STORE • This property is a 12,480 SF Build-to-Suit Dollar General plus store in Oliver Springs, TN. • Dollar General Plus locations are larger than traditional Dollar General stores and have more coolers/freezers to keep more perishable items in stock.
KNOXVILLE MSA • Oliver Springs is 30 miles West of Knoxville, TN off of Hwy 61 (19,200 VPD) and is part of the Knoxville MSA. • Knoxville is the largest city in East Tennessee and is the 3rd largest city in the state with a population of 187,603. • The University of Tennessee (28,321 Students) is in Knoxville and has one of the largest stadiums in the world, Nayland Stadium. • Knoxville is one of the gateways to the Great Smoky Mountains, the nation’s most popular national park that sees 9 million visitors annually. • Several National and Regional companies are headquartered in Knoxville including Tennessee Valley Authority, Pilot Flying J., and the H.T. Hackney Company. Tennessee Valley Authority is the nation’s largest public power provider. • The State of Tennessee has no income tax.
SUPERIOR RETAIL LOCATION • This Dollar General is well located on Hwy 61 (19,200 VPD) that connects Oliver Springs to Knoxville, TN. Surrounding national retailers include Food City, Hardees, Shell, Subway, Raceway, Ace Hardware, UPS and more. • The 5-mile Population is 28,205 and the Average Household Income is $67,394 which is superior for Dollar General locations.
8.5 YEAR CORPORATE NNN LEASE • There are approximately 8.5 years remaining on a 15-year Corporate Guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the five, 5-year option periods.
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.