Limited Competition Dollar General – Rosine, KY
7627 U.S. Highway 62, Rosine, Kentucky 42370, USA Map
Build-to-Suit Absolute NNN Dollar General with Rent Increases in Five, 5-Year Options | Limited Competition within Ten Miles
Listing Price $1,454,879
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 5.35% |
| GLA (Sq. Ft.) | 9,026 |
| NOI | $77,836 |
| Lease Term Remaining | 13 Years |
| Increases | 10% in Options |
| Options | Five (5), 5-Year |
| State (BOR) | KY |
| Broker of Record | Colby Haugness |
| License # (BOR) | 242197 |
| Close Date | Mar 28, 2022 |
JESSE J. LIMON
First Vice President Investments
National Retail Group
Direct (212) 430-5291
Jesse.Limon@marcusmillichap.com
License IN RB14048415,
NY 10401271892
Investment Highlights
- Subject Asset is a Newly Constructed Build-to-Suit, Single-Tenant Freestanding Building with a Total Gross Leasable Area of 9,026 Square-Feet on a 2.41-Acre Lot | Includes Pylon Signage and 30 Parking Spaces, Built in 2020
- New 15-Year Absolute Triple Net (NNN) Lease with a Corporate Guarantee that Includes Five, Five-Year Option Periods
- Ten-Percent Increases in Options Provides Investors with Long Term Passive Income from a Credit Worthy Tenant Investment Grade Tenant
- Dollar General is the Country’s Largest Small Box Discount Retailer with Over 17,000 Stores and a Credit Rating of BBB by Standard & Poor’s
- Strategically Positioned for High Visibility and Traffic, Subject is Located Along Main Thoroughfare US Highway 62 (2,507 VPD), Five Miles from the Interstate I-165 Junction (14,401 VPD) at Exit 92 (Source: Landvision, 2020)
- Area Retailers Include USPS, Beef O’ Brady, Pizza Kings, Matias Pizza & Wings, Dollar General, Bluegrass Veterinary Services, Cafe at the Dam, Uncrafter Territory Brewing Company, Walmart Supercenter, Taco Bell, KFC, Pizza Hut, and Valero Gas Station
- The Beaver Dam Amphitheater is a World-Class Concert Venue that Attracts Top Performers from Around the World
- Nearby City of Beaver Dam is Seeing Growth, Currently the Home of Six Manufacturing Plants, Two Progressive Shopping Centers, Dozens of New Homes and Recently Updated Downtown Shops
- Louisville, Kentucky is 185 Miles North of the Subject | Nashville, Tennessee is 108 Miles South | Cincinnati, Ohio is 200 Miles Northeast | The Indiana/Kentucky State Line is 35 Miles North | The Town of Beaver Dam is a 15-Minute Drive (10 Miles) West of the Subject
- Ohio County is a Growing Tourist Destination, Both for its Bluegrass Roots and Natural Beauty | Historical Landmark Bill Monroe Homeplace and Museum, the “Homeplace of Bluegrass Music” is Located Less Than Two Miles from Subject
- Tourists and Residents are Attracted to the County’s Public Hunting and Fishing Lands, Navigable Waterways, ATV Riding Opportunities, Flight Lessons for Those Interested in Aviation, Many Bike Paths, and Golfing
- Ohio County’s Central Location Gives Access to a Population of Nearly 400,000+ People and Nearly 200,000 Workers Between Two Major Intersecting Highways, Plus Available Rail Infrastructure that Allows for an Easy Commute Between Owensboro and Bowling Green
- Kentucky is Within a Day’s Drive of 65% of the U.S. Population, is the Only State with Three International Air Shipping Hubs (DHL, UPS & Amazon) and Features Some of the Lowest Tax Rates in the Region
Investment Overview
Marcus & Millichap is pleased to offer for sale this brand-new Dollar General store located at 7627 US Highway 62, Rosine, Kentucky 42370 and (the “Property”). Regan began February 2020 and is subject to a 15-year lease expiring February 2035. The current annual rent is $77,836 and is scheduled to increase 10% in each of the five, five-year tenant renewal option periods. The property comprises a +/- 9,026 SF building on a 1.38-acre parcel, that is strategically positioned for high visibility and low competition, subject is located along state US Highway 6262 (2,507 VPD), Five Miles from the Interstate I-165 Junction (14,401 VPD) at Exit 92 (Source: Landvision, 2020). Area Retailers Include USPS, Beef O’ Brady, Pizza Kings, Matias Pizza & Wings, Dollar General, Bluegrass Veterinary Services, Cafe at the Dam, Uncrafter Territory Brewing Company, Walmart Supercenter, Taco Bell, KFC, Pizza Hut, and Valero Gas Station
