This store opened in 2007 and Dollar General recently extended the lease to May 31, 2022.
Current rent is $4,550.00 per month, but will increase to $4,700.00 per month on June 1, 2017. The lease is corporately guaranteed by Dollar General who currently operates over 12,000 locations across the United States. Dollar General is responsible for taxes, insurance, and utilities. Tenant currently reimburses Landlord $378.00 per month for Landlord’ s actual cost of care and maintenance on the parking lot and shall include the maintenance of any grass or landscaped area, as well as lighting, cleaning, security, snow removal, striping and repairs. The reimbursement amount will increase to $413.00 per month beginning June, 1, 2017. There are five (5) five-year (5-yr) option periods with bumps in rent and parking lot maintenance fees.
The site is located north of Huntsville, Alabama, just off State Highway 431/231.
Current Cap Rate 7.9%
Cap Rate beginning June, 2107 8.16%