619 Warren St, Redgranite, WI 54970
Cap Rate: 6.50%
Price Per SF: $112.58
Leasable Area: 9,014 SF
Term Remaining: 8.5 Years
Year Built: 2009
Lot Size: 1.15 Acres
Early Lease Extension - In 2020, Dollar General exercised an early renewal, showing strong commitment to this location. There are 8.5 years remaining on the initial term. 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.
Location - 10 miles from Berlin, WI with a population of 5,524 and 30 miles from Oshkosh, WI with a population of 66,773. Average Household income over $48,000
Pandemic Proof- Essential Business that was unaffected throughout the COVID-19 pandemic. Open and paying rent on time in full throughout. No requests for temporary rent abatement nor rent reduction
1031 Exchange Asset - Dollar General is a great exchange property due to their creditworthiness and minimal landlord responsibilities. It is also deemed an essential business, thus staying open throughout the stay at home ordinances imposed nationwide