Dollar General

Dollar General

802 Pitts School Road
Concord, NC

Price: $1,977,000
Cap: 5.85%
NOI: $115,620
Building Size: 9,100 SF
Lot Size: 2.43 AC

Investment Highlights

NEW UPGRADED BRICK CONSTRUCTION
• Brand New 9,100 SF build-to-suit Dollar General in Concord, NC.
• This store has upgraded construction featuring a full masonry façade and is scheduled for delivery December 2019.

NEAR CONCORD MILLS & CHARLOTTE MOTOR SPEEDWAY
• Well positioned between Hwy 29 (24,000 VPD) and Hwy 49 (26,500 VPD).
• Located a few miles away from NASCAR’s Charlotte Motor Speedway (holds 171,000 people and generated $56.4M annually) and Concord Mills (1.4 million SF shopping mall and North Carolina’s largest tourist attraction with 17.6 million visitors annually).
• The 5-mile population of this location is 102,761 with an average household income of $91,725.

CHARLOTTE MSA
• Concord is the county seat of Cabarrus County and the second largest city in the Charlotte MSA, and the eleventh largest city in North Carolina.
• Concord has a diverse economy and was ranked as the city with the 16th fastest growing economy in the U.S.
• Charlotte is the largest city in North Carolina and the second largest in the southeast.
• Charlotte consistently ranks as one of the top growing cities and is the home to more than 10 Fortune 1,000 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.

LONG TERM CORPORATE ABSOLUTE NNN LEASE
• Brand new, 15-year corporate guaranteed lease with Dollar General.
• Tenant 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure.
• 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.
• Currently over 15,836 locations in 45 states with 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 $6.2 billion.

Don McMinn
OFFERING MEMORANDUM

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