The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Plus property located within the Charlotte MSA. The 12,480 square foot building is a relocation of a previously successful traditional-sized Dollar General store. Due to the success of the previous location, Dollar General elected to build one of their larger format Dollar General Plus stores. Dollar General Plus are larger than traditional Dollar General stores and have more coolers/freezers to keep more perishable items in stock. The Dollar General Plus lease has over 13 years remaining and features a rental escalation in year eleven and 10% rental escalations in each renewal option. Dollar General is an investment grade rated tenant (S&P: BBB-).
The 3.84 acre Dollar General Plus parcel is located along Main Street approximately one mile from access to Interstate 77. Main Street is a primary thoroughfare that experiences traffic counts in excess of 23,000 vehicles per day. The Dollar General Plus is located approximately 25 miles south of downtown Charlotte. The property is benefitted from its location adjacent to a Bi-Lo anchored development and across the street from a Food Lion. There are over 80,000 people living within a five mile radius of the property earning average household incomes of approximately $55,000.
Dollar General Plus has over 13 years remaining on their absolute net lease that expires in October 2027. The lease features a rental escalation in the eleventh lease year and 10% rental escalations in each of the six 5-year renewal options. Dollar General is an investment grade company (S&P: BBB-) and is publicly traded (NYSE: DG) with a market capitalization in excess of $17 billion.