3880 MS-305, Hernando, MS 38632
Cap Rate: 6.15%
Price Per SF: $162.60
Leasable Area: 9,026 SF
Term Remaining: 10.2 Years
Year Built: 2016
Lot Size: 1.73 Acres
Favorable Lease - 10.2 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, MS is located 25 miles south of downtown Memphis, TN. Population of 28,655 in 5-mile radius and 97,675 in 10-mile radius.
High Population Growth- The current population of Hernando, MS is 16,317 compared with 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