3421 Highway 301, Hernando, MS 38632
Cap Rate: 6.30%
Price Per SF: $163.11
Leasable Area: 9,026 SF
Term Remaining: 14 Years
Year Built: 2019
Lot Size: 1.50 Acres
Favorable Lease - 14 years remaining on the initial 15-year lease. Tenant has five, 5-year renewal options with 10% rental increases at the start of each option.
Strong Tenant - Dollar General has been in business since 1939 and is the largest "Small Box" retailer in the nation with over 16,000 locations Nationwide. Dollar General (NYSE: DG) is an investment Grade tenant with a "BBB" rating.
Excellent Location - Hernando, Mississippi is located 25 miles south of downtown Memphis, Tennessee and has a robust economy due to its close proximity to the Memphis-Forrest City metropolitan area commonly referred to as the Mid-South.
High Population Growth- The current population of Hernando, MS is 16,317, which has nearly tripled from 6,812 in 2000.
Zero Landlord Responsibilities - This property has an absolute NNN lease, which requires zero management on the landlords part. Perfect for buyers looking for a "hands-off" investment while reaping all the benefits of owning real estate.
1031 Exchange Asset - Dollar General is a great exchange property due to their creditworthiness and lack of landlord responsibilities. It is also deemed an essential business, thus staying open throughout the stay at home ordinances imposed nationwide