DOLLAR GENERAL | $1,997,327 | 5.50% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Dollar General a single-tenant property located at 3551 Faudree Road, Odessa, Texas 79765.
The subject property is comprised of 9,360 square feet and was built in 2015. The building sits on a large 1-acre lot located on Faudree Road which oversees a combined ±12,200 Vehicles Per Day.
Guaranteed by Dollar General (NYSE: DG) with ±17,000 stores & ±143,000 employees nationwide. Dollar General has 9-years remaining on the lease with 10% increases in each of the three, 5-year options.
Dollar General’s first store was opened in 1955 in Springfield, Kentucky. Since then, they have opened more than 17,000 stores in 46 different states. They are considered the largest dollar discount chain store in the United States and provide a wide array of items from kitchen utensils to clothes to home decorations. Their discounts on such items are competitive and continue to draw people in. Most of Dollar General’s buildings are no-frills limited maintenance structures with low operating costs. Older Dollar General’s are typically a double net lease with 10-year leases while newer stores are triple net with 15-year initial leases. All stores feature a corporate guarantee and high visibility within their market.