Located at 324 Franklin Street in Slippery Rock, Pennsylvania, this net leased Dollar General store has a 10,542 sq.ft. free standing building, sitting on a huge 1-acre parcel of land. The subject property is located near a market area that has an average annual household income of more than $67,503. Plus, it sees a traffic count of more than 9,148 vehicles per day. It also benefits from its proximity to the Slippery Rock University of Pennsylvania that has a student count of 8,824. The current lease agreement has more than 13 years remaining in the original 15-Year lease, including a 10 percent hike in rent in each of the three five-year period options.
With a net worth of over $6.13 billion and more than $23.5 billion in revenue, Dollar General is undoubtedly a growing Fortune 500 company (#123). Credit agency Standard & Poors has recently increased Dollar General’s credit rating to Investment Grade (BBB). The company’s share is publicly traded on the New York Stock Exchange under the ticker symbol, “DG.” Primarily dominant in the Southern and Eastern US, the Midwest, and the Southwest, Dollar General operates more than 15,000 discount stores in about 44 states as of July 24, 2018. The company offers a wide range of services, including cleaning supplies, health and beauty aids, food, and apparel. The average cost of products in a Dollar General Store ranges between $1 and $35.
This investment property is suitable for a 1031 exchange.
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