EVANSVILLE, IL DOLLAR GENERAL€¦ · The property is a 9,100 square foot building leased to Dollar...

Will HolmanManaging Director636.628.2111

Drew GoellnerAssociate Advisor636.628.2111 x2108

Presented by

Shari Nevels - Illinois Broker of RecordLicense # 471017462

EVANSVILLE, IL DOLLAR GENERAL | 7541 STATE ROUTE 3, EVANSVILLE, IL 62242 OFFERING MEMORANDUM

EVANSVILLE, ILDOLLAR GENERAL7541 STATE ROUTE 3EVANSVILLE, IL 62242

OFFERING SUMMARY

Sale Price: $1,061,529

Cap Rate: 6.8%

NOI: $72,183

Year Built: 2017

Building Size: 9,100 SF

PROPERTY OVERVIEWSVN | Holman Norden is pleased to present a 100% fee simple interest in aDollar General property located at 7541 State Route 3, Evansville, IL 62242. Thestore sits on Illinois State Route 3, a main north-south artery that runs fromSouth St. Louis to the Chester Bridge, the first Mississippi River bridge south ofSt. Louis connecting Illinois and Missouri. Strong traffic flow combined withlocal population and proximity to the area high school make this an excellentlocation for Dollar General. The property is a 9,100 square foot building leasedto Dollar General as a long-term tenant. Built in 2017 to better serve thecommunity, the store operates on an Absolute NNN Lease with an initial termof Fifteen (15) Years with over 13 years remaining. The lease includes Five (5)Year Options, each with a 10% escalation in base rent.

PROPERTY HIGHLIGHTS

• Absolute Triple Net Lease – No Landlord Responsivities

• Five (5) Year Renewal Options

• 10% Base Rent Increases at Each Option

• 13+ Years Remaining

• Built Specifically for Dollar General in 2017

Property Summary

EVANSVILLE, IL DOLLAR GENERAL | 7541 STATE ROUTE 3, EVANSVILLE, IL 62242 SVN | Holman Norden | All SVN® offices are independently owned and operated.

PROPERTY OVERVIEW

SVN | Holman Norden is pleased to present a 100% fee simpleinterest in a Dollar General property located at 7541 State Route3, Evansville, IL 62242. The store sits on Illinois State Route 3, amain north-south artery that runs from South St. Louis to theChester Bridge, the first Mississippi River bridge south of St.Louis connecting Illinois and Missouri. Strong traffic flowcombined with local population and proximity to the area highschool make this an excellent location for Dollar General. Theproperty is a 9,100 square foot building leased to Dollar Generalas a long-term tenant. Built in 2017 to better serve thecommunity, the store operates on an Absolute NNN Lease withan initial term of Fifteen (15) Years with over 13 years remaining.The lease includes Five (5) Year Options, each with a 10%escalation in base rent.

LOCATION OVERVIEW

Evansville is a quaint Midwest town in Randolph County Illinoisoffering a mix of industries. Mining is the primary industry inthe area followed by quarrying, oil, and gas extraction. Thiscombined with transportation along State Highway 3 make thisa strong location for Dollar General. Located about 45 minutessouth of St. Louis and 20 minutes from the next MississippiRiver bridge in Chester, IL, Evansville offers a midway point fortravelers following the Mississippi River south through Illinois.The service area for the Evansville Dollar General is large,exceeding more than a 7 mile radius; in addition, the trafficfrom locals, and commuters add to the viability of the area.

Property Description


INVESTMENT OVERVIEW 30% DOWN WITH 4.95 RATE FOR 25 YEARS

Price $1,061,529

CAP Rate 6.8%

Cash-on-Cash Return (yr 1) 6.38 %

Total Return (yr 1) $35,748

Debt Coverage Ratio 1.39

OPERATING DATA 30% DOWN WITH 4.95 RATE FOR 25 YEARS

Total Scheduled Income $72,184

Operating Expenses $0

Net Operating Income $72,183

Pre-Tax Cash Flow $20,315

FINANCING DATA 30% DOWN WITH 4.95 RATE FOR 25 YEARS

Down Payment $318,459

Loan Amount $743,070

Debt Service $51,868

Debt Service Monthly $4,322

Principal Reduction (yr 1) $15,433

Financial Summary


Location Maps


Site Plan


Retailer Map


POPULATION 3 MILES 5 MILES 7 MILES

Total population 643 1,922 4,897

Median age 42.4 42.5 42.0

Median age (Male) 40.6 41.1 41.3

Median age (Female) 44.0 43.8 42.6

HOUSEHOLDS & INCOME 3 MILES 5 MILES 7 MILES

Total households 255 767 1,968

# of persons per HH 2.5 2.5 2.5

Average HH income $55,209 $55,480 $57,197

Average house value $125,222 $126,456 $132,467

* Demographic data derived from 2010 US Census

Demographics Map


4660 Mexico RoadSt. Peters, MO 63376T 636.628.2111C [email protected] #1999033650

PROFESSIONAL BACKGROUND

Prior to forming SVN® | Holman Norden (SVN | HN), Will had spent severalyears at Marcus & Millichap Will has had a successful and diverse careersince starting in the Real Estate sales industry in 1984. After being raised in aReal Estate Development and Construction family it only made sense that hechose that as his career. He began in the sales and development ofresidential product types and quickly moved into the commercial arena. Hisclients include owner/users, investors, landlords and tenants in the areas ofinvestment sales, leasing, construction and development, covering theIndustrial, Retail, Multi-Family and Office product types. Will has participatedin excess of One Billion Dollars ($1,000,000,000) in transactions not only asthe Broker but also as Principal, Developer and Builder. This gives Will auniquely beneficial view point and skill set that greatly benefits his clients.

During his career Will has been associated with some of the St. Louis areaslarger companies. Prior to SVN | HN, Will served as Associate Director of theNational Retail Group - Marcus & Millichap where he honed his NationalMarket Real Estate Investment skills. Will also was a Principal, ManagingPartner and Broker with Commercial Brokerage Group, Inc., a 22 personfull-service Commercial Real Estate, Construction and Development firm,serving the entire St. Louis Regional Market.

Will has since continued to manage and develop his brokerage andmentoring skills. His experience and expertise aid owners in developingsuccessful strategies for their Single Tenant Net Leased Properties as well asMulti-Tenant Industrial, Office and Retail properties. Since forming SVN | HNand after utilizing the expansive network he has developed Will has beenable to expand the region he serves throughout the Midwest and South andSoutheastern area of the country. This expanded territory combined with theability to mentor and co-broker with agents across the country has broughtsubstantial benefits to his clients.

WILL HOLMAN

Managing Director

Senior Advisor


4660 Mexico RoadSt. Peters, MO 63376T 636.628.2111 x2108C [email protected]

PROFESSIONAL BACKGROUND

Prior to SVN | Holman Norden, Drew Goellner spent a short time in residentialreal estate before being drawn to the commercial product type. Prior tobeing licensed in 2015, Drew acted as sales manager for his father’smanufacturing company.

At SVN | Holman Norden, Drew specializes in Triple Net Investment andSelf-Storage Properties. Serving the Greater Midwest market while based inthe St. Louis MSA, a central location to better serve his clients. Thesespecialties are a natural fit as Drew has worked with his family’s historicaland mixed-use portfolio his entire life, and interacts with his in-law’s portfolioof farm and self-storage parcels.

Drew, through diligent efforts and effective use of technology, has been ableto market his listed properties on a national basis. This allows Drew to reachapproximately 100,000 Commercial Real Estate Professionals and theirclients nationally. By using these methods and following the SVN principal ofsharing 50% of the Fee 100% of the time Drew is able, on average, to getsellers more for their properties.

Drew graduated from the University of Missouri, and SEC D-1 school, with aBachelor’s Degree in Entrepreneurship. While in College Drew was fortunateto intern with outstanding US companies, such as Ameriprise Financialworking directly with one of the top 100 producers. Additionally, Drew wasfortunate to enjoy a yearlong Internship with Walt Disney World’s retail,entertainment, casual dining park, and Downtown Disney management andoperations team. Disney is one of the top brands globally as reported byForbes Magazine and toward the top of the S&P 100 companies list.Furthering his knowledge and experience Drew was able to work on apolitical campaign during his senior year of college.

DREW GOELLNER

Associate Advisor

Advisor


Disclaimer


The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of theproperty within and is not to be used for any other purpose. This information should not, under any circumstances, bephotocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or usedfor any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed inthis proposal, and no other person is authorized by the Owner to provide any information or to make anyrepresentations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained herein is or shall be relied upon as a promiseor representation as to the future representation of the Property. This Offering Brochure may include certain statementsand estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there canbe no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and allliability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, orany other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled torely solely on those representations and warranties that may be made to it in any final, fully executed and delivered RealEstate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not lookto Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates,for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conducttheir own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expresslyreserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property andexpressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed RealEstate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, aprospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and theSVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate PurchaseAgreement shall bind the property and each prospective purchaser proceeds at its own risk.

EVANSVILLE, IL DOLLAR GENERAL€¦ · The property is a 9,100 square foot building leased to Dollar...

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