Calibrate Real Estate is proud to announce the sale of a NNN-leased property in Cheyenne Wells, Colorado. This property has a single tenant under a commercial lease with a 6.22% CAP rate for a high return rate and zero management responsibility for the Owner.
The corporate guarantee by Dollar General is especially attractive as DG performed well in 2020, opening their 17,000th store. For 2021, Dollar General has 2,900 real estate projects in the pipeline, with plans to open 1,050 new stores, remodel 1,750 stores and relocate 100 stores.
Dollar General’s success has created a supply and demand issue for investors. Bidding wars are now common and Cap rates have compressed. Since we have a great relationship with the Seller, they were willing to sell this store off-market before listing on CoStar.
This is the 9th successful transaction that Kyle Malnati has brokered for this client over the past decade and the 3rd deal Kyle has done with this developer.
Location: Cheyenne Wells, Colorado
Addresses: 440 Highway 40 East, Cheyenne Wells, CO 80810
Sale Date: August 17, 2021
Sale Price: $1,585,799
Lease Type: NNN
- 15-Year Absolute Triple Net (NNN) Lease. Corporate Guaranteed Lease
- Tenant Responsible For Maintenance, Taxes, Insurance
- Guaranteed Lease by Dollar General Corporation