Dollar General-Abs NNN | 1030 Congress Pky N
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Dollar General-Abs NNN 1030 Congress Pky N
9,026 SF Retail Building Athens, TN 37303 $2,012,807 CAD ($223 CAD/SF) 6.70% Cap Rate
Investment Highlights
- High performing store - Per Placer.ai data, this store ranks #6 out of 19 Dollar General stores in a 15-mile radius
- New construction in 2018
- Oversized land parcel of 2.636 acres
- Absolute triple net with no landlord responsibilities
- 8.5 years of remaining lease term with five, 5-year options at 10% increases each
- Building size per the lease is 9,026 SF, however the building is 9,172 SF per the as-built survey
Executive Summary
Transwestern National Net Lease | Sale Leaseback Group is pleased to present a high-performing, absolute triple net leased Dollar General at 1030 Congress Parkway North, Athens, Tennessee. The Property was completed in March 2018 with a new 15-year lease with no landlord responsibilities, providing an investor a truly passive investment opportunity.
The initial term of the lease runs through March 31, 2033, with the tenant having five (5), 5-year options to renew with 10% rent increases each. According to Placer.ai, this store’s visitor traffic ranks #6 out of 19 stores in a 15-mile radius and outperforming 64% of stores in the State of Tennessee and 61% of all Dollar General stores nationwide.
The Property is situated 3.2 miles north of downtown Athens, Tennessee and is roughly 60 miles northeast of Chattanooga and 55 miles southwest of Knoxville, approximately halfway between the two major cities.
Dollar General is a publicly traded company (NYSE: DG) and an investment grade tenant (S&P: BBB). Headquartered in Goodlettsville, Tennessee, Dollar General’s gross revenue for 2023 exceeded $38.7 billion with operating profit of $2.4 billion. Dollar General operates
more than 19,000 stores with plans to open 800 more and remodel an additional 1,500 stores in 2024.
The initial term of the lease runs through March 31, 2033, with the tenant having five (5), 5-year options to renew with 10% rent increases each. According to Placer.ai, this store’s visitor traffic ranks #6 out of 19 stores in a 15-mile radius and outperforming 64% of stores in the State of Tennessee and 61% of all Dollar General stores nationwide.
The Property is situated 3.2 miles north of downtown Athens, Tennessee and is roughly 60 miles northeast of Chattanooga and 55 miles southwest of Knoxville, approximately halfway between the two major cities.
Dollar General is a publicly traded company (NYSE: DG) and an investment grade tenant (S&P: BBB). Headquartered in Goodlettsville, Tennessee, Dollar General’s gross revenue for 2023 exceeded $38.7 billion with operating profit of $2.4 billion. Dollar General operates
more than 19,000 stores with plans to open 800 more and remodel an additional 1,500 stores in 2024.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,026 SF
Building Class
C
Year Built
2018
Price
$2,012,807 CAD
Price Per SF
$223 CAD
Cap Rate
6.70%
NOI
$134,858 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
2.63 AC
Zoning
B3
Frontage
155 ft on Congress Parkway North
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Dollar General-Abs NNN | 1030 Congress Pky N
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