4218 Gall Boulevard Zephyrhills, FL 33542
E X C L U S I V E
S I N G L E - T E N A N T
O F F E R I N G
D OLLAR G ENERAL 4218 Gall Boulevard Zephyrhills, FL 33542
INVESTMENT HIGHLIGHTS
15-Year Triple-Net Lease (Tenant Responsible for Roof, Structure and Maintenance of Parking Lot) New Construction - Full Masonry and Stucco Exterior
OFFERING SUMMARY Price Down Payment Loan Amount / Type Interest Rate/Amortization
$1,438,100 (35%) $503,335 $934,765 / Proposed New 6.000%/25 Years
Rentable SF
9,100 $158.03
Strong Corporate Guaranty: Standard & Poor's BB Rating
Price Per SF
Dollar General: 2009 Sales of $11.80 Billion
Lot Size Cap Rate
8.35%
#195 in Fortune 500
Net Cash Flow After Debt Service
9.50%
Three Percent Rental Increase in Year 11 and 10 Percent at Each Option
Total Return
Dollar General is Now Publicly Traded (NYSE:DG)
Year Built
12.80%
LEASE SUMMARY Lease Commencement Date Rent Commencement Date Lease Expiration Date Lease Type Lease Term Increases Options
Offices Nationwide
2010 1.1+/- Acres
July 2010 July 2010 July 01, 2025 Triple Net (NNN)
Listed by:
GINO LOLLIO Associate Net Leased Properties Group Tel: (312) 327-5400 Fax: (312) 327-5410 License: IL 476.432841 [email protected] www.marcusmillichap.com/GinoLollio
15 Years 3% Yr 11 & 10% at Options Five, Five-Year
333 West Wacker Drive, Suite 200 Chicago, IL 60606 • Tel: (312) 327-5400 Fax: (312) 327-5410
www.marcusmillichap.com
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2010 Marcus & Millichap (Activity ID: R0370160 Property ID: 1693182)
4218 GALL BOULEVARD • ZEPHYRHILLS, FL 33542 OPERATING DATA
INVESTMENT OVERVIEW Marcus & Millichap is pleased to announce for sale a freestanding Dollar General located in Zephyrhills, FL with a rare true triple-net lease, including a three percent increase in year 11 and 10 percent at each option.
Rent Increases
Annual Rent
Monthly Rent
Years 1 - 10 Years 11 - 15 Years 16 - 20 (Opt. Years 21 - 25 (Opt. Years 26 - 30 (Opt. Years 31 - 35 (Opt. Years 36 - 40 (Opt.
$120,080.76 $123,683.28 $136,051.56 $149,656.68 $164,622.36 $181,084.56 $199,193.04
$10,006.73 $10,306.94 $11,337.63 $12,471.39 $13,718.53 $15,090.38 $16,599.42
1) 2) 3) 4) 5)
Base Rent ($13.20/SF) Base Rent Growth Rate Year 11 Each Option Net Operating Income Debt Service Debt Coverage Ratio Net Cash Flow After Debt Service Principal Reduction Total Return
$120,081 3.00% 10.00% $120,081 72,272 1.66 9.50% $47,809 16,639 12.80% $64,448
The building is a 2010 construction build-to-suit for Dollar General, the leading discount retailer in the United States. The building was constructed to run parallel with the road, allowing for maximum frontage.
The front facade of the
building was constructed with the studs, support, and structure to convert the the building to multi-tenant space, with multiple entrances, should Dollar General vacate the premises at any point.
333 West Wacker Drive Suite 200 Chicago, IL 60606 Tel: (312) 327-5400 Fax: (312) 327-5410 www.marcusmillichap.com
The corporately-guaranteed lease on the facility is 15 years in duration and triple-net in nature with the tenant responsible for all maintenance including parking lot, roof and structure. The lease features 10 percent rental increases at the beginning of each of the five, five-year option periods. Dollar General has been in business for over 65 years and has over 8,800 locations. In its most recent fiscal year the company recorded $11.80 Billion in sales for 2009. In November 2009, the company was taken public and is now traded as DG on the NYSE and has a Standard & Poor's credit rating of BB.
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2010 Marcus & Millichap (Activity ID: R0370160 Property ID: 1693182)
S I N G L E - T E N A N T
O F F E R I N G
D OLLAR G ENERAL 4218 Gall Boulevard Zephyrhills, FL 33542
INVESTMENT HIGHLIGHTS
15-Year Triple-Net Lease (Tenant Responsible for Roof, Structure and Maintenance of Parking Lot) New Construction - Full Masonry and Stucco Exterior
OFFERING SUMMARY Price Down Payment Loan Amount / Type Interest Rate/Amortization
$1,438,100 (35%) $503,335 $934,765 / Proposed New 6.000%/25 Years
Rentable SF
9,100 $158.03
Strong Corporate Guaranty: Standard & Poor's BB Rating
Price Per SF
Dollar General: 2009 Sales of $11.80 Billion
Lot Size Cap Rate
8.35%
#195 in Fortune 500
Net Cash Flow After Debt Service
9.50%
Three Percent Rental Increase in Year 11 and 10 Percent at Each Option
Total Return
Dollar General is Now Publicly Traded (NYSE:DG)
Year Built
12.80%
LEASE SUMMARY Lease Commencement Date Rent Commencement Date Lease Expiration Date Lease Type Lease Term Increases Options
Offices Nationwide
2010 1.1+/- Acres
July 2010 July 2010 July 01, 2025 Triple Net (NNN)
Listed by:
GINO LOLLIO Associate Net Leased Properties Group Tel: (312) 327-5400 Fax: (312) 327-5410 License: IL 476.432841 [email protected] www.marcusmillichap.com/GinoLollio
15 Years 3% Yr 11 & 10% at Options Five, Five-Year
333 West Wacker Drive, Suite 200 Chicago, IL 60606 • Tel: (312) 327-5400 Fax: (312) 327-5410
www.marcusmillichap.com
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2010 Marcus & Millichap (Activity ID: R0370160 Property ID: 1693182)
4218 GALL BOULEVARD • ZEPHYRHILLS, FL 33542 OPERATING DATA
INVESTMENT OVERVIEW Marcus & Millichap is pleased to announce for sale a freestanding Dollar General located in Zephyrhills, FL with a rare true triple-net lease, including a three percent increase in year 11 and 10 percent at each option.
Rent Increases
Annual Rent
Monthly Rent
Years 1 - 10 Years 11 - 15 Years 16 - 20 (Opt. Years 21 - 25 (Opt. Years 26 - 30 (Opt. Years 31 - 35 (Opt. Years 36 - 40 (Opt.
$120,080.76 $123,683.28 $136,051.56 $149,656.68 $164,622.36 $181,084.56 $199,193.04
$10,006.73 $10,306.94 $11,337.63 $12,471.39 $13,718.53 $15,090.38 $16,599.42
1) 2) 3) 4) 5)
Base Rent ($13.20/SF) Base Rent Growth Rate Year 11 Each Option Net Operating Income Debt Service Debt Coverage Ratio Net Cash Flow After Debt Service Principal Reduction Total Return
$120,081 3.00% 10.00% $120,081 72,272 1.66 9.50% $47,809 16,639 12.80% $64,448
The building is a 2010 construction build-to-suit for Dollar General, the leading discount retailer in the United States. The building was constructed to run parallel with the road, allowing for maximum frontage.
The front facade of the
building was constructed with the studs, support, and structure to convert the the building to multi-tenant space, with multiple entrances, should Dollar General vacate the premises at any point.
333 West Wacker Drive Suite 200 Chicago, IL 60606 Tel: (312) 327-5400 Fax: (312) 327-5410 www.marcusmillichap.com
The corporately-guaranteed lease on the facility is 15 years in duration and triple-net in nature with the tenant responsible for all maintenance including parking lot, roof and structure. The lease features 10 percent rental increases at the beginning of each of the five, five-year option periods. Dollar General has been in business for over 65 years and has over 8,800 locations. In its most recent fiscal year the company recorded $11.80 Billion in sales for 2009. In November 2009, the company was taken public and is now traded as DG on the NYSE and has a Standard & Poor's credit rating of BB.
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2010 Marcus & Millichap (Activity ID: R0370160 Property ID: 1693182)
