Dollar General – New Albany

$50,000 Minimum Investment

Current Yield: 6.00%

NNN Lease – 15 years

Property Info

Tenant: Dollar General
Address: 1523 CR 101, New Albany, MS
Year Build: 2015
Total Sq Ft.: 9100
Property Type: Single Tenant, Freestanding
Ownership Type: TIC
Non-Accredited Investors: Yes
Minimum Investment: $50,000

Mississippi TIC Property

This tenant-in-common property features an absolute NNN lease that leaves investors with a passive investment opportunity without the landlord responsibilities.  The base lease term runs through August 2030 and has two 5-year renewal options. Each option has a 10% rent increase. The property itself is a build-to-suit for Dollar General and is  the latest Dollar General prototype with a mix of masonry, concrete block, and steel construction. The lease is fully guaranteed by Dollar General Corporation (NYSE: DG; S&P: BBB/Stable), a company currently operating more than 12,575 stores in 43 states. On January 29, 2016, the company reported total revenues of $20.37 billion, net income of $1.17 billion and net worth in excess of 5.38 billion. The property is one of a select few retailers in the area and serves as an important, affordalbe shopping destination for the area’s surrounding population. Browse TIC Properties >>>

Tenant Info

Tenant: Dollar General
Net Worth / Credit Rating: $5.38 billion / BBB/Stable
Ticker Symbol: DG
Website: dollargeneral.com

Lease Info

Type: Absolute NNN
Term: 15 years
Corp. Guaranteed Lease: Yes
Rent Commencement: August 2015
Lease Expiration: August 2030
Owner Responsibility: None
Tenant Responsibility: Taxes, Insurance, Utilities, Maintenance
Annual Rent: $132,000
Rent Escalations: 10% each renewal period
Renewal Options: (2) 5-year renewal options

Demographics

Location: New Albany, MS
Population: 8,786
Avg Household Income: $28,730

The property’s location has 3,049 households with a low median household income and thus the store serves as an important hub for affordable home necessities.