• The tenant, Dollar General, recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• The lease is guaranteed by Dollar General Corporation (S&P: BBB)
• Tenant pays for CAM, insurance and maintains all aspects of the premises
• Landlord responsibilities include taxes (reimbursed by tenant)
• Ideal, low-management investment for a passive investor
• Brand new 2024 construction featuring high quality materials, distinct Dollar General Market design elements, and state-of-the-art features
• The Dollar General Market is located near the signalized, hard-corner intersection of Lincoln Highway and 6th Street
• The site benefits from its close proximity to US Highway 30, a major thoroughfare averaging over 16,300 vehicles passing daily
• The asset benefits from excellent visibility via significant street frontage and a large pylon sign
• The asset is located in a dense retail corridor, with numerous nearby national/credit tenants including Starbucks, McDonald’s, Subway, Anytime Fitness, Ace Hardware, State Farm, HR Block, and more
• In addition, Dollar General Market is located in close proximity to a shopping corridor that features national/credit tenants such as McDonald’s, Dollar General, Casey’s, and Anytime Fitness, further increasing consumer traffic to the site
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The 10-mile trade area is supported by approximately 62,600 residents and 41,200 employees, providing a direct consumer base from which to draw
• Residents within 5 miles of the subject property boast an affluent average household income of $106,384
• Nevada is located approximately 10 miles from Iowa State University, which had a student population of 30,177 in 2023