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KITTRELL & ARMSTRONG, LLC
Exclusively offered by: STANLEY H. ARMSTRONG, CCIM, SIOR THOMAS F. STOUGHTON, BROKER J. BRYANT KITTRELL, III, SIOR Managing Partner Managing Partner Managing Partner (252) 531-9844 (252) 531-1054 (252) 355-0088
Kittrell and Armstrong has made every effort to present accurate information here. Any disclosures of current performance or specifications are not a guarantee of future performance. All figures
and assumptions should be independently verified.
2815 B Charles Boulevard
Greenville, North Carolina 27858
252-355-0088
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KITTRELL & ARMSTRONG, LLC
EXCLUSIVELY LISTED BY: STANLEY H. ARMSTRONG, CCIM, SIOR THOMAS F. STOUGHTON, BROKER J. BRYANT KITTRELL, III, SIOR Managing Partner Managing Partner Managing Partner (252) 531-9844 (252) 531-1054 (252) 355-0088
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DOLLAR GENERAL Winston-Salem, North Carolina
INVESTMENT SUMMARY
Offering Price $1,519,000.00
Net Operating Income $106,020.00
CAP Rate 7.0%
Lease Term Remaining 8+ Years
RENT SCHEDULE Lease Years Annual Rent Monthly Rent Cap Rate
Years 1– 15 $106,020.00 $ 8,835.00 7.0%
Option Years
Option 1 $116,622.00 $ 9,718.50 7.7%
Option 2 $128,284.20 $10,690.35 8.4%
Option 3 $141,112.68 $11,759.39 9.3%
Option 4 $155,223.84 $12,935.32 10.2%
OFFERING SUMMARY Offering Price $ 1,519,000.00
Cap Rate 7.0%
Annual Rent -Years 1-15 $106,020.00
Gross Leasable Area (GLA) 9230 +/- SF
Price/SF (GLA) $164.57
Year Built 2011
Lot Size 1.3 Acres
LEASE SUMMARY Tenant Dolgencorp, LLC
Guarantor Dollar General Corporation
Lease Type Absolute Net
Ownership Fee Simple
Original Lease Term 15 Years
Lease Expiration Date July 31, 2026
Renewal Options (4) Five Year Options
Option to Terminate None
Option to Purchase None
First Right of Refusal None
DEMOGRAPHIC SUMMARY 1-Mile 3-Mile 5-Mile
2010 Population 5,443 55,145 129,755
2017 Population 5,683 57,530 135,502
2017 Households 1,969 22,382 53,263
2017 Avg. HH Income $33,764 $52,124 $61,091
KITTRELL & ARMSTRONG, LLC
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E X E C U T I V E S U M M A RY Dollar General
Dollar General
3414 North Patterson Avenue Winston-Salem, North Carolina 27105
KITTRELL & ARMSTRONG, LLC
Your Leader in Commercial Real Estate
E X E C U T I V E S U M M A RY Dollar General
Investment Overview Kittrell and Armstrong, LLC, is pleased to exclusively market for sale the Dollar General in Winston-Salem, North Carolina. This building is situated on 1.3 acres and contains approximately 9230 square feet. Dollar General has four, five year renewal options with ten percent rent increases each option period.
The property is located in North Winston-Salem between John Gold Memorial Express and Indiana Avenue. The area surrounding this property has stable demographics, with 5,683 residents located within one mile and 57,530 residents located within three miles. The average household income is $61,091 within five miles of the property. Other retailers surrounding the property include Auto Zone, Rite Aid, Citi Trends, Food Lion, American Deli and Beauty World.
KITTRELL & ARMSTRONG, LLC
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P R O P E R T Y D E S C R I P T I O N Dollar General
3414 North Patterson Avenue
Winston-Salem, North Carolina
KITTRELL & ARMSTRONG, LLC
Your Leader in Commercial Real Estate
P R O P E R T Y D E S C R I P T I O N Dollar General
3414
North