Dollar General Retail Store
10,640 SF | Retail Building | Golden Meadow, LA 70357 | $2,171,000 ($204/SF) | 6.85% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,171,000
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $204
Listing Contacts
Don McMinn
Verified Profile
Andrew Koriwchak
Verified Profile
- Property Info
Property Overview
2023 RELOCATION DOLLAR GENERAL
• New 10,640 SF Dollar General located in Golden Meadow, LA
• This Dollar General is a relocation and expansion of an existing store in this area which shows their commitment and confidence in the Golden Meadow Market.
• The store opened, and rent commenced in October 2023.
NEAR NEW ORLEANS | MOST POPULOUS CITY IN LA
• Golden Meadow is located about 1.5 hours south of downtown New Orleans on the coast of Louisiana.
• New Orleans is the most populous city in the state and is the 3rd most populous city in the deep south.
• Serving as a major port, New Orleans is considered an economic and commercial hub for the broader Gulf Coast region
• New Orleans operates one of the world’s largest and busiest ports that generates $100 million in revenue annually.
• Home to multiple professional sports teams including the NFL’s New Orleans Saints who generate over $530 Million in revenue each year.
• There are 7 universities located in New Orleans including Tulane University (14,472 Students), University of New Orleans (8,231 Students), and Dillard University (1,301 Students).
GOLDEN MEADOW
• Golden Meadow is located in the southeast corner of LA about 20 minutes from the coast.
• The towns main source of revenue is the oil and gas industry, but the fishing and seafood industries also have strong economic impacts.
• LA southernmost port, Port Fourchon, is located only 20 minutes south of this Dollar General. Port Fourchon currently services over 90% of the Gulf of Mexico’s deepwater oil production
• South Lafourche Airport supports 38K aircraft operations per year and is only 7 miles from this Dollar General.
NEW 15-YEAR CORPORATE NNN LEASE
• Brand new 15-year corporate guaranteed NNN Lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, roof and structure.
• There are 10% rent increases in each of the Three, 5-year option periods
INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 19,400 locations and expanding by 1,050 stores each year.
• Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion
• New 10,640 SF Dollar General located in Golden Meadow, LA
• This Dollar General is a relocation and expansion of an existing store in this area which shows their commitment and confidence in the Golden Meadow Market.
• The store opened, and rent commenced in October 2023.
NEAR NEW ORLEANS | MOST POPULOUS CITY IN LA
• Golden Meadow is located about 1.5 hours south of downtown New Orleans on the coast of Louisiana.
• New Orleans is the most populous city in the state and is the 3rd most populous city in the deep south.
• Serving as a major port, New Orleans is considered an economic and commercial hub for the broader Gulf Coast region
• New Orleans operates one of the world’s largest and busiest ports that generates $100 million in revenue annually.
• Home to multiple professional sports teams including the NFL’s New Orleans Saints who generate over $530 Million in revenue each year.
• There are 7 universities located in New Orleans including Tulane University (14,472 Students), University of New Orleans (8,231 Students), and Dillard University (1,301 Students).
GOLDEN MEADOW
• Golden Meadow is located in the southeast corner of LA about 20 minutes from the coast.
• The towns main source of revenue is the oil and gas industry, but the fishing and seafood industries also have strong economic impacts.
• LA southernmost port, Port Fourchon, is located only 20 minutes south of this Dollar General. Port Fourchon currently services over 90% of the Gulf of Mexico’s deepwater oil production
• South Lafourche Airport supports 38K aircraft operations per year and is only 7 miles from this Dollar General.
NEW 15-YEAR CORPORATE NNN LEASE
• Brand new 15-year corporate guaranteed NNN Lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, roof and structure.
• There are 10% rent increases in each of the Three, 5-year option periods
INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 19,400 locations and expanding by 1,050 stores each year.
• Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion
Property Details
- Class
- C
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 43,560 SF
Highlights
- 2023 RELOCATION DOLLAR GENERAL
- 15 YEAR CORPORATE NNN LEASE
- NEAR NEW ORLEANS | MOST POPULOUS CITY IN LA
- OCTOBER 2023 RENT COMMENCEMENT
- INVESTMENT GRADE TENANT | 19,400 LOCATIONS
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