Dollar General. nnn dollar general In income tax free state. For more info on this opportunity please contact:

Transcription

1 Dollar General nnn dollar general In income tax free state 3031 Edgewood Ave W, Jacksonville, FL Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. For more info on this opportunity please contact: ZEB RIPPLE (415) CA BRE# CHRIS KOSTANECKI (415) CA BRE# CHRIS PETERS (415) CA BRE# In Conjunction with: Capital Atlantic Rick Steinberger, FL Licensed Broker (407)

2 DOLLAR GENERAL LOCATED IN JACKSONVILLE, FL. JACKSONVILLE S POPULATION IS 842,583, MAKING IT THE 12 TH MOST POPULOUS CITY IN THE US. Investment Highlights PRICE...$1,592,000 CAP RATE % LEASE TYPE... NNN PPSF... $ RENTABLE SF... 9,014 SF LOT SIZE Acres YEAR BUILT Representative Photos The subject property is located approximately one-half mile from Route 1 and approximately 2.5 miles from both I-295 (to the West) and I-95 (to the East). Edgewood Drive is a four lane commercial and residential thoroughfare featuring average daily traffic volumes of approximately 14,200 automobiles per day. Surrounding retailers include Church s Chicken, Family Dollar, BP, McDonald s and Taco Bell. This asset enjoys excellent visibility from Edgewood and has easy access and lots of parking. STRONG TENANT Dollar General s credit is BBB- (investment grade) and the company s credit rating has been raised four times since 2009 Dollar General has more stores (11,500+) than any other retailer in the U.S. and is the largest dollar store chain. In the five years since going public, the DG stock price has increased approximately 196% (from $23 to $68 as of January 2015) LEASE HIGHLIGHTS Fifteen year NNN lease with four (4) five-year options Primary term through July 31st, % rental increases every 5 years during the option periods DOLLAR GENERAL 2 DOLLAR GENERAL 2

3 STRONG TRAFFIC COUNTS EXCELLENT VISBILITY Traffic counts of 14,200 VPD on 103rd Street Subject property is accessible from Edgewood avenue and has ample parking near subject property 1 15 Carter G. Woodson Elementary Tiger Academy 23 JACKSONVILLE CITY CENTER ue ILY A 0D 20 W 45th Street on 14, W n Ver E ven da oo w dge d Roa George Washington Carver Elementary 1 Edgewood Avenue N Kids Point of View Learning 1 Mental Health Center of Jacksonville 23 15

4 Income & Expense PRICE $1,592,000 Price Per Square Foot: $ Capitalization Rate: 7.00% Total Rentable Area (SF): 9,014 Lot Size (AC): 1.70 STABILIZED INCOME Per Square Foot Scheduled Rent $12.37 $111,480 Effective Gross Income $12.37 $111,480 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $111,480 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. DOLLAR GENERAL 4

5 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Dollar General 9,014 08/01/10 07/31/25 $111,480 $9,290 $111,480 $1.03 $12.37 Option 1 08/01/25 07/31/30 $10,219 $122,628 $1.13 $13.60 Option 2 08/01/29 07/31/34 $11,241 $134,892 $1.25 $14.96 Option 3 08/01/34 07/31/39 $12,365 $148,380 $1.37 $16.46 Option 4 08/01/39 07/31/44 $13,602 $163,224 $1.51 $18.11 Totals: 9,014 $111,480 $9,290 $111,480 $1.03 $12.37 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. DOLLAR GENERAL 5

6 Dollar General DOLLAR GENERAL HAS GROWN INTO THE COUNTRY S LARGEST SMALL-BOX DISCOUNT RETAILER. ABOUT DOLLAR GENERAL Dollar General (NYSE: DG) is a chain of more than 11,500 discount stores in 40 states, primarily in the South, East, Midwest, and Southwest. Offering basic household items, such as cleaning supplies, health and beauty aids, as well as some apparel and food, it targets low-, middle-, and fixed-income shoppers. Although it has the word dollar in its name, Dollar General is not solely a dollar store. The company offers goods sold at set price points ranging from under a dollar to $60. Some of its higher-end items include over-the-counter medicines, seasonal products, pet products, prepaid cell phones and accessories, and automotive supplies. The company has grown into the country s largest small-box discount retailer. Stores are often located in small towns off the radar of giant discounters. One of Dollar General s main advantages is that it offers prices as low or lower than Walmart but in more convenient locations, within a closer driving distance. With 11,500+ locations, Dollar General has more stores than any other retailer, and is easily the largest dollar store chain. COMPANY TYPE: PUBLIC (NYSE: DG) 2013 SALES $17.5 BILLION S&P 500 CREDIT RATING BBB FORTUNE 500 #164 NUMBER OF STORES 11,500+ The company currently ranks 164th within the Fortune 500 list. Fiscal 2013 revenues exceeded $17.5 billion (up 9.23% from 2012) with a net income of $1.02 billion (up 7.60% from 2012), and net worth of $5.4 billion (up 8.43% from 2012). DOLLAR GENERAL 6

7 Photos SEASONED STORE WITH OVER 10 YEARS OF PRIMARY LEASE TERM REMAINING DOLLAR GENERAL 7

8 Regional Map Jacksonville FL Location Jacksonville DOLLAR GENERAL DOLLAR GENERAL 8

9 Location & Demos JACKSONVILLE, FL OVERVIEW Jacksonville is the largest city in Florida and the largest city by area in the contiguous United States. The majority of Jacksonville s metropolitan population resides within the city limits, making it the most populous city proper in Florida and the twelfth most populous in the United States. Jacksonville is the principal city in the Greater Jacksonville Metropolitan Area, a region with a population of more than 1.35 million. Jacksonville is the largest deepwater port in the south (as well as the secondlargest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city s economy lies in its broad diversification. The area s economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries. Jacksonville is a rail, air, and highway focal point and a busy port of entry, with Jacksonville International Airport, ship repair yards and extensive freighthandling facilities. Lumber, phosphate, paper, cigars and wood pulp are the principal exports; automobiles and coffee are among imports. The city also has a large and diverse manufacturing base. POPULATION 2013 HOUSEHOLD INCOMES 1-Mile 3-Mile 5-Mile ,500 64, , ,388 62, , ,395 62, ,007 1-Mile 3-Mile 5-Mile Average $38,257 $37,717 $40,575 Median $26,877 $27,359 $28,942 TOP EMPLOYERS IN JACKSONVILLE Employer # of Employees* Naval Air Station 25,240 Duval County Public Schools 14,440 Naval Station Mayport 9,000 City of Jacksonville 8,820 It is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: CSX Corporation, Fidelity National Financial, Fidelity National Information Services and BI-LO (United States) including its subsidiary Winn-Dixie Stores, Inc. *Approximate DOLLAR GENERAL 9

10 A unique HUMAN RESULTS-DRIVEN client experience THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS [ ] ZEB RIPPLE zripple@capitalpacific.com (415) CA BRE# CHRIS PETERS cpeters@capitalpacific.com (415) CA BRE# CHRIS KOSTANECKI ck@capitalpacific.com (415) CA BRE# In Conjunction with: Capital Atlantic Rick Steinberger, FL Licensed Broker (407) rsteinberger@servantcapitalgroup.com Copyright 2015 [Capital Pacific Real Estate Brokerage Company]