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Dollar General Net Lease Investment Opportunity | 7.5% Cap Rate

102 Third Street
Benton, LA 71006
PRICE : $885,000
CAP RATE: 7.5%
PROPERTY TYPE: Retail
BUILDING SIZE: 9,014 SF
YEAR BUILT: 2004

Highlights

  • Proven and successful NN Dollar General - sales over $2.5M with percentage rent paid since 2012
  • Limited dollar store competition in the surrounding area
  • Located in Shreveport MSA with continued area growth projected
  • Five-mile population of almost 11,000 and over 185,000 in nearby Shreveport
  • Low rent/SF inclusive of percentage rent estimate of $7.32
  • Three 5-year options remain on this ± 9,014 SF prototype store
  • Priced at $885,000 and a projected cap rate of 7.5% based on modest anticipated percentage rent paid
  • Nancy Miller LA License #0995683059

Description

This successful NN leased Dollar General is located in Benton, Louisiana, 16 miles north of Shreveport which has a population of over 185,000. Store sales are strong – with over $2.5M in the last lease year. The store opened in 2004 and has received annual percentage rent since 2012 with steadily increasing annual sales. The current lease runs through September 30, 2024 and three 5 year options remain, each with a 7% rent increase.

This ± 9,014 SF prototype store is located on the main business corridor of Benton Road with traffic counts of more than 10,500 VPD. As a growing bedroom community to Shreveport, the population within 5 miles is 10,930 with a growth rate of 1.42% and average household income of $81,311. Barksdale Air Force Base, General Dynamics and several nationally branded casinos nearby provide the economic engine to the area’s continued growth. As importantly, there is limited dollar store competition with the closest store 7 miles south.

This NN lease provides for full Landlord reimbursement of insurance and taxes and offers monthly CAM for parking lot maintenance. Based upon current base rent and conservative future percentage rent payments, the NOI is projected to be $66,025. This is an exceptional and rare opportunity to purchase a top performing Dollar General, that still receives percentage rent. It is offered at $885,000 and a cap rate of 7.5%, inclusive of the projected percentage rent contribution.

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