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t r a n s l a t e

Dollar General Net Lease Investment Opportunity | 7% Cap Rate

185 Old Highway 134
Daleville, AL 36322
PRICE : $855,000
CAP RATE: 7%
PROPERTY TYPE: Retail
SITE SIZE: 1.28 Acres
BUILDING SIZE: 8,000 SF
YEAR BUILT: 1998

Highlights

  • Recently renewed NN lease and remodeled store in growing Enterprise-Ozark MSA
  • Extended lease term through 4/30/2026 with one 5-year option
  • Located next to a new Dollar Tree and O’Reilly’s coming in early 2022
  • Outstanding real estate and nearby traffic counts of 11,818 VPD
  • Located 3 miles south of Fort Rucker, home of the U.S. Army’s Aviation Center
  • Population of over 18,000 with an average household income of over $60,000 within five miles
  • Low rent/SF of $7.50
  • Corporate guaranteed by Dollar General
  • Value-priced at $855,000 and a cap rate of 7%
  • Nancy Miller AL License #93159

Description

This NN leased Dollar General, built in 1998, was recently remodeled with new signage to be installed by early 2022, demonstrating the tenant’s commitment to this location. The ± 8,000 SF, stand-alone building is part of a larger ± 3.2-acre parcel consisting of a former Piggly Wiggly. The Dollar General will be separately deeded from the existing two-tenant retail building which has been repurposed to now include a newly opened Dollar Tree and an O’Reilly’s Automotive, planned to open in early 2022. The landlord will create reciprocal access and parking easements for customer use.

Daleville, located about 9 miles from Enterprise, AL, is part of the Enterprise/Ozark MSA. Fort Rucker, the U.S. Army’s Aviation Center is located less than 3 miles from the Dollar General. Other major employers in the area include General Dynamics, Concentrix, Daleville City School District, Lyster Army Hospital and more. The population within five miles is over 18,000 with an
average household income of over $60,000. Nearby traffic counts are nearly 11,818 VPD and continued growth is anticipated.

Dollar General recently extended the NN lease for five years, through April 2026, with one 5-year renewal option. In addition to base rent of $60,000 annually or $5,000 per month, the tenant pays $300 per month towards parking lot maintenance. The landlord is fully reimbursed for property tax and up to $2,000 per year in insurance. The tenant is responsible for all interior
maintenance, repairs up to $500 per occurrence and quarterly maintenance of the HVAC system. This net lease offering is guaranteed by Dollar General and has rent of only $7.50/SF. It is offered at $855,000 or a 7% cap rate.

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