dollar general - ompabloproperties.com/fayettevilledg/dollargeneral-fayettevillenc.pdf · dollar...

Offering Memorandum

Re-Location Store From Inline Location Directly Across the Street

Prototype -10,542 SF BuildingDecember 2015 Delivery

Dollar GeneralFayetteville, NC

REPRESENTATIVE PHOTO

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Confidentiality Agreement

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representa-tion whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfac-tion with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or prop-erty taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

NET LEASED DISCLAIMER

Exclusively listed by:

OFFICES THROUGHOUT THE UNITED STATES AND CANADA

www.marcusmillichap.com

Richard VincentAssociate Director, National Retail GroupONTARIO OFFICETel: (909) 456-3491Fax: (909) [email protected] Licenses: CA 01930526

Pablo RodriguezAssociate Director, National Retail GroupONTARIO OFFICETel: (909) 456-7032Fax: (909) [email protected] Licenses: CA 01870757

exclusively listed

Dollar General

EXECUTIVE SUMMARYOffering Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Dollar General Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Dollar General Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Dollar General In the News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7Location Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

PROPERTY DESCRIPTIONLocal Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Regional Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Aerial Photograph . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Site Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

COMPETITIVE PROPERTY SETRecent Sales Comparables . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-16On Market Comparables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17-18

MARKET OVERVIEWDemographic Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-21

Table of Contents

summaryE X E C U T I V E S U M M A R Y

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID W0080243

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EXECUTIVE SUMMARY Dollar General

DOLLAR GENERAL

SWC Cedar Creek Road & Troy Drive,

Fayetteville, NC 28312

OFFERING SUMMARYPrice $1,800,000

Price/SF $170.74

CAP Rate 6.20%

Rentable Square Feet 10,542 Square Feet

Year Built December 1, 2015

Lot Size 1.6 Acres

TENANT SUMMARY

Tenant Trade Name Dollar General

Ownership Public

Tenant Corporate Store

Lease Guarantor Corporate Guarantee

Lease Type Absolute Net

Roof and Structure Tenant Responsible

Lease Term 15 Years

Lease Commencement 12/19/2015

Rent Commencement 01/01/2016

Lease Expiration Date 01/01/2031

Terms Remaining on Lease 15 Years

Increases 10% per Five-Year Option

Options Five, Five-Year Options

VITAL DATANet Operating Income - Current $111,560.04

Ownership Fee Simple (Land and Improvements)

Proposed Financing New First Trust Deed

ANNUALIZED OPERATING DATARENT INCREASES ANNUAL RENT MONTHLY

Year One thru 15 $111,560.04 $9,296.67

Option One (2030 thru 2035) $122,715.96 $10,226.33

Option Two (2035 thru 2040) $134,978.64 $11,248.97

Option Three (2040 thru 2045) $148,486.32 $12,373.86

Option Four (2045 thru 2050) $163,335.00 $13,611.25

Option Five (2050 thru 2055) $179,668.44 $14,972.37

Base Rent ($10.93/SF)

Net Operating Income $111,560.04

EXECUTIVE SUMMARY


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Dollar General

Marcus & Millichap is pleased to exclusively market for sale a brand new Dollar General relocation store of approximately 10,542 square feet located in Fayetteville, North Carolina. Dollar General has signed a 15 year Triple Net Lease with 10 percent rent increases between each of the five, five year renewal options. The lease is guaranteed by Dollar General Corporation, which is publicly traded on the New York Stock Exchange under the ticker “DG” and has a current “BBB-” credit rating by Standard & Poors. Dollar General is scheduled to be delivered in December 2015. The property will feature a stylish concrete tilt-up design with modern finishes.

The surrounding demographics are well suited to discount retailing, with approximately 49,510 people within a five mile radius and an average household income of $36,779. Located less than a mile east of the subject property is the North Carolina Indian Housing Authority and the Eagles Nest Apartments which features 40 one-bedroom units, 30 two-bedroom units and 22 three-bedroom units. The Authority is empowered to provide housing for low income Native Americans.

Investment Highlights■ Brand New Build-to-Suit Relocation Store ■ 15 Year Absolute Triple Net Corporate Guaranteed Lease■ 10 Percent Increases in Each of the Five, Five Year Options■ Stable Cash Flows With Zero Landlord Responsibilities■ Huge 1.6 Acre Lot - More Residual Value■ Well-Suited for the Target Demographics■ Larger 10,542 Square Foot Prototype Building

Investment Overview


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Goodlettsville, Tennessee-based Dollar General Corporation is the nation’s largest small-box discount retailer. The company seeks to make shopping for everyday needs simpler and hassle-free by offering a carefully edited assortment of the most popular brands at everyday low prices in small, convenient locations. Dollar General ranks among the largest retailers of top-quality brands made by America’s most trusted manufacturers, such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.

In the 2013 fiscal year, the company had $17.5 billion in sales, over 11,500 stores in 40 states, 10,000-12,000 total stock keeping units (SKUs) per store from America’s most trusted manufacturers, 12 distribution centers and more than 100,000 employees.

Dollar General is a company that embraces substance and simplicity. Its mission is “serving others” and the company thinks its customers are best served when they “keep it real and keep it simple”.

Dollar General builds and runs conveniently sized stores to deliver everyday low prices on products consumers need and want, and has successfully done so for many years. It delivers a smarter, easy shopping solution accessible to more consumers. The company’s goal is to provide customers with a better life, employee opportunity and a great working environment.

Dollar General’s business model stands for convenience, quality brands and low prices. Its successful prototype makes shopping a truly hassle-free experience. The company designs small neighborhood stores with carefully edited merchandise assortments to make shopping simpler. Dollar General doesn’t carry every brand and size, just the most popular ones. The average Dollar General customer completes his or her shopping trip in less than ten minutes.

Source: http://newscenter.dollargeneral.com/company+facts/

EXECUTIVE SUMMARY


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Dollar General

Summary of Terms


Company Highlights

Dollar General Corporation

■ Company Headquarters Located in Goodlettsville, Tennessee

■ Publically Traded on the New York Stock Exchange Under Ticker Symbol “DG”

■ Company Founded in 1955 in Springfield, Kentucky

Mission Statement“In Dollar General, you’ll find a company that embraces substance and simplic-ity. Our mission is “Serving Others,” and we think our customers are best served when we keep it real and keep it simple. We build and run convenient-sized stores to deliver everyday low prices on products our customers want. We have suc-cessfully done so for many years. We deliver a smarter, easier shopping solution accessible to more consumers. Our goal is to provide our customers a better life and our employees opportunity and a great working environment.”

“In Dollar General, you’ll find a company that embraces subtance and simplicity. Our mission is “serving others” and we think our customers are best served when we keep it real and keep it simple. We build and run convenient-sized stores to deliver everyday low prices on products our customers want. We have successfully done so for many years. We deliver a smarter, easier shopping solution accessible to more consumers. Our goal is to provide our customers a better life and our employees opportunity and a great working enviornment.”

Headquartered in Goodlettsville, Tennessee

Publically Traded on the New York Stock Exchange Under Ticker Symbol “DG”

Founded in 1955 in Springfield, Kentucky

Dollar General Corporation

Company Highlights

Company Highlights


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Summary of Terms

The Study compares prices at Dollar General, deep discounter Family Dollar Stores (FDO) and giant discounter Walmart Stores (WMT).

Based on his recent round of price checks, Dollar General is the “new price leader,” Grom notes, with the overall basket priced around 100 basis points lower than Family Dollar and around 60 basis points lower than Walmart.

Grom’s “dollar store” study follows Family Dollar Stores’ recent announcement that it would be investing $50 million in prices across 1,000 stock keeping units, or items part of its move back to everyday low pricing.

Deep discounter Dollar General (DG) is the front-runner in the race to lure consumers with low prices, according to a pricing study by Sterne Agee analyst Charles Grom.

Grom writes, “while list-price adjustments did finally flow through the Family Dollar basket this time around, the overall basket at Dollar General fell by a comparable amount, helping DG maintain its price lead.”

Prices declined at Family Dollar and Dollar General but increased at Walmart.

Relative to Grom’s prior study a month ago, the price of his 42-item basket fell sequentially by 0.4 percent at Family Dollar and 0.3 percent at Dollar General. The overall basket rose by 0.5 percent at Walmart, driven completely by higher prices in food.

Meanwhile, the food and beverage category increased sequentially at all three retailers by about 2.2 percent on average.

“The price gap for Dollar General relative to Walmart is centered in the household product category, where it is priced at a 6.1 percent discount,” he wrote. “Importantly, based on our basket, Dollar General is lower than Family Dollar Stores across all three categories. However, we do point out that Walmart maintains a 6.6 percent price advantage, on average, in the food and beverage category, compared to the two dollar stores.

Dollar General in the News

Dollar General Takes Low Price Lead Over Wal-MartBy Marilyn Much, Investors Business Daily - April 25, 2014


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• Fourth Quarter Sales Increased 9.9 Percent; Fourth Quarter Same-Store Sales Increased 4.9 Percent• Fourth Quarter EPS Increased 16 Percent to $1.17• Full Year Sales Increased 8 Percent; Full Year Same-Store Sales Increased 2.8 Percent• Fiscal 2014 EPS of $3.49; Adjusted Fiscal 2014 EPS of $3.50• Company Provides 2015 Financial Guidance and Accelerated Store Development Plans for 2016• Company Guidance Assumes Share Repurchases of $1.3 Billion• Initiates Regular Quarterly Cash Dividend of $0.22 per Share

Dollar General Reports Record Fourth Quarter

Highlights

GOODLETTSVILLE, Tenn. (BUSINESS WIRE), March 12, 2015 - Dollar General Corporation (NYSE: DG) today reported record sales, net income and earnings per share for its fiscal 2014 fourth quarter (13 weeks) and full year (52 weeks) ended January 30, 2015.

“In 2014, momentum built in our business as we moved through the year, marking our twenty-fifth year of consecutive same-store sales growth. We are pleased with our fourth quarter results which reflect accelerating same-store sales and we intend to capitalize on that momentum as we move into 2015,” said Rick Dreiling, chairman and CEO.

“As we look ahead, we have exciting operating plans that build on our competitive strengths. For 2015, we are forecasting a year of strong growth including a total sales increase of eight to nine percent, same-store sales growth of three to 3.5 percent and EPS growth of 10 to 13 percent over 2014 adjusted EPS. Given our strong return profile for new stores, we plan to accelerate our new store openings to approximately seven percent square footage growth in 2016,” said Dreiling.

“The expanded capital return plan for shareholders we announced today is based on the confidence of the Dollar General Board of Directors in the Company’s long-term growth prospects, financial outlook and cash flow generation,” Dreiling continued. “This plan represents a balanced approach to our commitment to delivering increased value to our shareholders by investing in future growth and returning capital to our shareholders through share repurchases and dividends.”

For the 2015 fiscal year, the Company expects total sales to increase eight to nine percent over the 2014 fiscal year. Same-store sales are expected to increase three to 3.5 percent. Operating profit for 2015 is expected to increase seven to nine percent over the 2014 adjusted operating profit.

The Company expects full year interest expense to be approximately $90 million. The full year 2015 effective tax rate of approximately 37 to 38 percent assumes the reenactment of the WOTC, consistent with 2014.

Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95, based on approximately 295 million weighted average diluted shares, assuming share repurchases of approximately $1.3 billion.

Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. The Company plans to open approximately 730 new stores in 2015, or six percent square footage growth, and relocate or remodel 875 stores. Given the Company’s strong new store returns that have been consistently proven over the last six years, Dollar General plans to accelerate new store openings to seven percent square footage growth in 2016.

Source: http://newscenter.dollargeneral.com/news/dollar-general-reports-record-fourth-quarter-and-full-year-2014-financial-results.htm

EXECUTIVE SUMMARY


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Dollar General

LOCATION OVERVIEW - FAYETTEVILLE, NC

AMERICA’S HOMETOWN - Greater Fayetteville is proud of its rich role in our nation’s history and holds fast to the friendly feel of a true hometown, while providing the cultural and entertainment amenities of bigger cities. You name it, Festively’s got it: sophisticated restaurants, museums, unique shopping, musical, and sporting events, kid-friendly fun, elegant and quirky art galleries, gardens, trails and parks, not to mention nearby Fort Braggs that solidifies the city’s deep roots in all things military. After all, Fayetteville is the nation’s first Military Sanctuary Community and declared “America’s Most Pro-Military Town” by TIME Magazine.

■ Airborne & Special Operations Museum Foundation has been around for nearly 20 years. The main gallery is designed as a self-guided tour, in chronological order, through the history of airborne and special operations soldiers from 1940 to the present. ~ 3.41 Miles from the Subject Property

■ Cape Fear Botanical Garden was founded in 1989 and is a natural beauty situated on an impressive 80 acres nestled between the Cape Fear River and Cross Creek just two miles from downtown Fayetteville. The Garden offers engaging cultural events to inspire and excite, education activities to energize, and peaceful spots to refresh. ~ 2.16 Miles from the Subject Property

■ 1897 Poe House is on the National Register of Historic Places. E.A. Poe of Fayetteville had the house built for his wife Josephine Montague of Wake County, and their eight children. Mr. Poe was a successful businessman manufacturing bricks and utilitarian pottery. The house contains main furnishings and focuses on early 20th century life in southeastern North Carolina. ~ 3.84 Miles from the Subject Property

■ Atlantic Coast Line Railroad Depot came to Fayetteville in 1892, and by the turn of the twentieth century the town was included in main north-south passenger freight services. This depot is listed on the National Register of Historic Places for its architectural merit featuring a Colonial Dutch Revival style. ~ 3.22 Miles from the Subject Property

Airborne & Special Operations Museum Foundation

Cape Fear Botanical Garden 1987 Poe House Atlantic Coast Line Railroad Depot

descriptionP R O P E R T Y D E S C R I P T I O N

PROPERTY DESCRIPTION Dollar General


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LOCAL MAP

DOLLAR GENERAL

PROPERTY DESCRIPTION

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Dollar General


REGIONAL MAP

DOLLAR GENERAL

EXECUTIVE SUMMARY


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Dollar General52,677 ADT Dollar GeneralRobbins, NC

DEMOGRAPHIC HIGHLIGHTS (3 MI)

POPULATION OF 10,321AVERAGE HOUSEHOLD INCOME IS $36,779

45% OF RESIDENTS ARE HOMEOWNERS

CA

PE

FEA

R R

IVE

R

CED

AR CREEK

ROAD

- 12,588 ADT

competitiveC O M P E T I T I V E P R O P E R T Y S E T

Dollar General


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COMPETITIVE PROPERTY SET

Subject Property (Subject Property) SWC Cedar Creek Road & Troy Drive, Fayetteville, NC 28312

Sales Price: $1,800,000 Price/SF $170.674Cap Rate: 6.20%Rentable Square Feet: 10,542 Square FeetYear Built: 2015Lot Size: 1.6 Acres

Recent Sales

Dollar General 8638 Trouble Creek Road, New Port Richey, FL 34653

Dollar General 3260 Pleasant Hill Road, Kissimmee, FL 34746

Close of Escrow: 12/19/2013Sales Price: $1,727,000 Price/SF $190.00 Cap Rate: 6.35%Rentable Square Feet: 9,100 Square FeetYear Built: 2013


A brand new 9,100 square foot freestanding building under a 15 year triple net lease with 10 percent increases at the beginning of each of the four, five year option periods.

A brand new building with 15 Year triple net lease, 10 percent rent increases at the beginning of each of the four, five year option periods.

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Dollar General



Dollar General 6576 Laurel Island Parkway, Kingsland, GA 31548


Recent Sales

Dollar General 6514 Massachusetts Avenue, New Port Richey, FL 34653


A brand new 9,100 square foot freestanding building under a 15 year triple net lease with 10 percent increases at the beginning of each of the four, five year options periods.

A brand new building with 15 Year triple net lease, 10 percent rent increases at the beginning of each of the four, five-year option periods.

Dollar General


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Subject Property (Subject Property) SWC Cedar Creek Road & Troy Drive, Fayetteville, NC 8312

List Price: $1,800,000Price/SF $170.74 Cap Rate: 6.20%Rentable Square Feet: 10,542 Square FeetYear Built: 2015Lot Size: 1.6 Acres

On Market Comparables

Dollar General 1377 South Dixie Highway, Deerfield Beach, FL 33441

Dollar General 115 North Elm Street, Adel, GA 31620

Status: On MarketList Price: $2,404,300 Price/SF $267.09 Cap Rate: 6.00%Rentable Square Feet: 9,002 Square FeetYear Built: 2014


A brand new building with 15 Year triple net lease, 10 percent rent increases at the beginning of each of the four, five year option periods.

Dollar General will occupy a brand new 9,002 square-foot freestanding building on 1.42 acres and has agreed to a 15 year absolute triple net lease with 10 percent increases beginning at each of the four, five year option periods.

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Dollar General



Dollar General 341 7 Airport Road, Dalton, GA 30721


On Market Comparables

Dollar General 10208 China Spring Road, Waco, TX 76708


Dollar General is currently under a triple net lease with 14 years remaining on the initial term. There are three, five year options to renew.

Dollar General will occupy a brand new 9,100 square foot freestanding store operating under a 15 Year triple net lease with 10 percent increases at the beginning of each of the five, five year option periods.

overviewM A R K E T O V E R V I E W

MARKET OVERVIEW

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Dollar General


Demographic Summary

Dollar GeneralFayetteville, NC

Income 1-Mile 3-Miles 5-Miles$ 0 - $ 14,999 30.1% 34.7% 23.3%$ 15,000 - $24,999 18.2% 16.8% 14.3%$ 25,000 - $34,999 10.0% 9.5% 12.0%$ 35,000 - $49,999 17.5% 15.7% 13.9%$ 50,000 - $74,999 13.2% 13.1% 16.0%$ 75,000 - $99,999 6.6% 5.6% 8.5%$100,000 - $124,999 2.5% 2.2% 5.1%$125,000 - $149,999 0.7% 0.9% 2.9%$150,000 - $200,000 0.4% 0.9% 2.0%$200,000 to $249,999 0.3% 0.2% 0.8%$250,000 + 0.6% 0.5% 1.3%2014 Median HH Income $26,493 $23,942 $35,4092014 Per Capita Income $15,884 $15,911 $23,4782014 Average Household Income $38,913 $36,779 $53,855

Population 1-Mile 3-Miles 5-Miles2014 Population 2,902 10,321 49,5102019 Population 3,031 10,176 49,499

Households 1-Mile 3-Miles 5-Miles2000 Households 952 4,305 19,9212010 Households 1,118 3,995 20,8592014 Households 1,184 4,246 21,1362019 Households 1,238 4,204 21,3732014 Average HH Size 2.48 2.31 2.272014 Daytime Population 1,016 18,187 39,191 2000 Owner Occupied Housing Units 51.57% 43.40% 51.64%2000 Renter Occupied Housing Units 37.41% 44.61% 37.88%2000 Vacant 11.02% 11.99% 10.48%2014 Owner Occupied Housing Units 43.99% 45.47% 52.31%2014 Renter Occupied Housing Units 56.01% 54.53% 47.69%2014 Vacant 16.41% 18.00% 14.15%2019 Owner Occupied Housing Units 43.23% 45.52% 52.28%2019 Renter Occupied Housing Units 56.77% 54.48% 47.72%2019 Vacant 16.87% 18.69% 14.65%

MARKET OVERVIEW Dollar General


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Demographic Summary -- 5 Miles

PopulationIn 2014, the population in your selected geography is 49,510. The population has changed by 1.37% since 2000. It is estimated that the population in your area will be 49,499 five years from now, which represents a change of 0.02% from the current year. The current population is 46.50% male and 53.49% female. The median age of the population in your area is 36.9, compare this to the Entire US average which is 37.3. The population density in your area is 630.15 people per square mile.

Households There are currently 21,135 households in the selected geography. The number of households has changed by 6.09% since 2000. it is estimated that the number of households in the area will be 21,373 five years from now, which represents a change of 1.12% from the current year. The average household size in the area is 2.27 persons

Income In 2014, the median household income for your selected geography is $35,409, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 16.46% since 2000. It is estimated that the median household income in your area will be $39,824 five years from now, which represents a change of 12.46% from the current year.

The current year per capita income in your area is $23,477, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $53,855, compare this to the Entire US average which is $74,533

Housing In 2000, there were 11,491 owner occupied housing units in the area and there were 8,429 renter occupied housing units in the area. The median rent at the time was $383.

Employment In 2014, there were 39,191 employees in the selected area, this is also known as the daytime population. The 2000 Census revealed that 56.23% of employees are employed in white-collar occupations in the selected geography, and 43.84% are employed in blue-collar occupations. In 2014. unemployment in the area was 11.58%. In 2000, the average time traveled to work was 20.3 minutes.

Miles

Demographic data © 2012 by Experian/Applied Geographic Solutions.

Exclusively listed by:

OFFICES NATIONWIDE

www.marcusmillichap.com

Richard VincentAssociate Director, National Retail GroupONTARIO OFFICETel: (909) 456-3491Fax: (909) [email protected] Licenses: CA 01930526

Pablo RodriguezAssociate Director, National Retail GroupONTARIO OFFICETel: (909) 456-7032Fax: (909) [email protected] Licenses: CA 01870757

exclusively listed

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