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Dollar General - Overton TX 602 S Commerce St 10,640 SF Retail Building Overton, TX 75684 $1,916,120 CAD ($180.09 CAD/SF) 6.75% Cap Rate
Investment Highlights
- Over 5 Years Remaining | Options to Extend | Below Market Rent | Established Brand
- Located Along S. Commerce St. (4,700 VPD) | Limited Competition | Excellent Visibility | Overton Secondary School (257 students)
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 10-mile Trade Area
Executive Summary
• The tenant currently has over 5 years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation
• DG is paying 25% less rent in this 10,640 prototype DG Plus store than the newer stores the exact same size in similar locations
• The low rent along with the larger prototype structure provides an investor with a secure long-term outlook for this investment with a 10% hedge for inflation each five-year option
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 locations in 47 states as of August 2024
• The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation
• DG is paying 25% less rent in this 10,640 prototype DG Plus store than the newer stores the exact same size in similar locations
• The low rent along with the larger prototype structure provides an investor with a secure long-term outlook for this investment with a 10% hedge for inflation each five-year option
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 locations in 47 states as of August 2024
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,640 SF
Building Class
C
Year Built
1983
Price
$1,916,120 CAD
Price Per SF
$180.09 CAD
Cap Rate
6.75%
NOI
$129,373 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.26 AC
Zoning
Agriculture Open
Parking
35 Spaces (3.29 Spaces per 1,000 SF Leased)
Frontage
198’ on Commerce St
Amenities
- Pylon Sign
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 10958 | Improvements Assessment | $1,111,205 CAD |
| Land Assessment | $112,727 CAD | Total Assessment | $1,223,932 CAD |
Property Taxes
Parcel Number
10958
Land Assessment
$112,727 CAD
Improvements Assessment
$1,111,205 CAD
Total Assessment
$1,223,932 CAD
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Dollar General - Overton TX | 602 S Commerce St
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