Dollar General | Relocation Store | New 10 Year Lease
105 N 4th Street Tomahawk, WI 54487
Price: $1,725,000
Status: Sold
Cap Rate: 5.85%
Year Built: 1995/Ren 2021
NOI: $100,700
Lot Size: 0.49 acres
Price Per Foot: $162
Lease Type: Double-Net (NN)
Remaining Term: 10 Years
GLA: 10601 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land & building) in an industrial investment property located in the city of Tomahawk, WI (the “Property”). The Property consists of a 10,601-square-foot retail building that sits on an approximately 0.49-acre parcel. The property is a relocation store for Dollar General and was completely renovated in 2021 to Dollar General's expanded grocery and home decor concept.
investment highlights
- INVESTMENT GRADE CREDIT TENANT: DOLLAR GENERAL (NYSE: DG/S&P: BBB) • STRONG CORPORATE LEASE GUARANTY
- The subject property is leased to Dollar General (NYSE: DG; S&P: BBB), the largest dollar store in the U.S. by revenues, delivering everyday low prices on items that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, seasonal items, paper products and much more at everyday low prices in convenient neighborhood locations. Dollar General is a $33+ billion, Fortune 119 company with 158,000+ employees, operating 17,177 stores in 46 states in the continental United States (as of 1/29/2021).
- NEW EXPANDED GROCERY & HOME DECOR CONCEPT • RELOCATION STORE • DOLLAR GENERAL INVESTED $500K IN TENANT IMPROVEMENTS
- The property is a new relocation store for Dollar General and was built to reflect Dollar General’s latest expanded grocery and home décor store concept. Dollar General is heavily invested in this new location as they spent roughly $500,000 in tenant improvements.
- NEW LONG TERM DOUBLE NET (NN) LEASE • RENT INCREASES EVERY 5 YEARS (OPTIONS) • COMPLETE BUILDING RENOVATION IN 2021
- The new 10-year double-net (NN) lease commenced in late-August 2021, and features rent increases every five years in the (4) 5-year renewal options, providing an investor with a newly renovated property leased by an investment grade credit tenant.
- LOCATED ON HARD CORNER INTERSECTION • MAIN TRAVEL CORRIDOR TO/FROM HWY 51 • EXCELLENT ACCESS, LOADING AREA, OFF-STREET PARKING
- The subject property is located on the hard corner intersection of N. 4th Street & W. Somo Ave/Hwy 86, providing ample off-street parking excellent access. W. Somo Ave/Hwy 86 is the main travel corridor to/from WI State Route 51, for quick access to Wausau just 40 miles to the south.
- IDEAL CITY CENTER LOCATION • CLOSE TO CITY/COUNTY OFFICES • ONE BLOCK FROM DOWNTOWN • STRONG SYNERGY WITH NEARBY RETAILERS
- The subject property is located in a centralized position within Tomahawk’s downtown core, offering strong retail synergy with nearby tenants such as Associated Bank, US Post Office, Gerber Collision, Dairy Queen, and Tomahawk Community Bank. Additionally, the Property is located mere blocks from Tomahawk city offices: City of Tomahawk, Tomahawk Fire & Police departments.
- LOCATED IN TOMAHAWK, IN LINCOLN COUNTY • 12TH-LARGEST COUNTY IN WISCONSIN • LOW EMPLOYMENT • STRONG PROJECTED GROWTH • ONLY 40 MILES NORTH OF WAUSAU
- The subject property is located in Tomahawk, which is in Lincoln County, the 12th-largest county in the state. Siutated at the confluence of the Wisconsin, Tomahawk and Spirit rivers, Tomahawk is an angler’s paradise, as well as a popular destination for hunters and mountain bikers. Lincoln County has a low unemployment rate of 3.9% (July 2021), and the area is projected to see 35.3% growth over the next 10 years. The county’s economy is supported by the Manufacturing, Retail Trade, and Health Care industries, with top employers Harley-Davidson, Northwestern Mutual, Cognizant Technology Solutions, and the Marshfield Clinic.
listing agents
