NNN Leased Big 5
2152 Dell Range Blvd | Cheyenne, WY
Sq. Feet 42,782
The subject property is a new construction Dollar General ("DG") located in Belen, NM, just outside Albuquerque. The 9,100+/- SF building with concrete parking lot sits on 2.09+/- acres on Highway 314, a main thoroughfare in the area with an average daily traffic count of 11,700. DG benefits from the population of 25,000+ in 5 miles and the limited competition in the area.
DG is signed to a 15-year absolute NNN lease that commenced in March 2014. There are 10% rental increases at the beginning of each of the 5, 5-year renewal options. DG is responsible for all expenses related to the property including CAM, taxes, insurance, and HVAC.
Dollar General Corporation is the nation’s largest small-box discount retailer. The company seeks to make shopping for everyday needs simpler and hassle-free by offering a carefully edited assortment of the most popular brands at low everyday prices in small, convenient locations. Dollar General ranks among the largest retailers of top-quality brands made by America’s most-trusted manufacturers, such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.
In fiscal 2013, the company had $17.50 billion in sales and 11,000+ stores in 40 states.
Cap Rate: 6.25% NOI: $98,593 Livable Sq. Ft: 9,100
Built in 2014 1 Retail units Lot Sq. Ft: 2.09 Acres