Dollar General

Dollar General

910 W Steuben Street
Bingen, WA

Price: $3,048,000
Cap: 4.90%
NOI: $149,352
Building Size: 9,100 SF
Lot Size: 0.88 AC

Investment Highlights

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL
• The subject property is an upgraded construction 9,100 SF Dollar General located in Bingen, WA.
• This store is delivering in September 2022 and sits on 0.88 AC of land.

WASHINGTON HAS NO STATE INCOME TAX
• Washington State is one of 9 U.S. states that has no state income tax.
• Washington is the 18th-largest state, with an area of 71,362 square miles, and the 13th-most populous state, with more than 7.7 million people.
• Washington is a leading lumber producer and is the largest producer of apples, hops, pears, blueberries, spearmint oil, and sweet cherries in the U.S.
• Manufacturing industries in Washington include aircraft, missiles, shipbuilding, and other transportation equipment, food processing, metals and metal products, chemicals, and machinery.
• The state consistently ranks among the best for life expectancy and low unemployment.

NEAR PORTLAND, OR
• The subject property is located 60 miles northeast of Portland off Interstate 84 (13,135 VPD).
• Portland is the largest and most populous city in the state of Oregon with a population of 652,503.
• Portland’s combined statistical area (CSA) ranks 19th-largest in the US with a population of around 3.2 million. Approximately 47% of Oregon’s population resides within the Portland metropolitan area.
• The Port of Portland is the third-largest export tonnage port on the west coast of the U.S. and being about 80 miles (130 km) upriver, it is the largest fresh-water port.
• The area is home to the global, North American or U.S. headquarters of Nike, Adidas, and Columbia Sportswear.
• Computer component manufacturer Intel is the largest employer in Portland, employing 15,000 people across several campuses in the area.

NEW 15 YEAR CORPORATE NNN LEASE
• Brand new 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 three, 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 18,200 locations and expanding by 1,000 stores each year.
• Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion.

Don McMinn
OFFERING MEMORANDUM

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