Dollar General - Offering Memorandum - Myrtle Beach, South Carolina - Cypress Commercial & Investment Real Estate
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Dollar General
Myrtle Beach, South Carolina
Actual Photo
Offering Memorandum
Dollar General
cypresscommercial.com
TABLE OF CONTENTS:
PRESENTED BY:
Company Overview 3
James C. Harrison, III, CCIM
Disclaimer 3 Senior Investment Broker
Investment Overview | Property Highlights 4 803 834.7014 Ext. 5 (o)
803 331.8088 (c)
Lease Information 5 jharrison@cypresscommercial.com
Regional Map 6
H. Carter Seawell
Regional Map 7 Investment Brokerage Associate
Regional Map 8 803 834.7014 Ext. 7 (o)
704 975.2855 (c)
Regional Aerial 9
cseawell@cypresscommercial.com
Local Aerial 10
Local Aerial 11
ADDRESS:
Site Aerial 12 Cypress Commercial & Investment Real Estate
Myrtle Beach, South Carolina 13 3101 Devine Street
Columbia, SC 29205
Tenant Summary 14
Demographics 15
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Dollar General
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COMPANY OVERVIEW: DISCLAIMER:
Cypress Real Estate Partners, LLC d/b/a Cypress Commercial & Investment Real It is the prospective purchaser’s responsibility to conduct its own due diligence.
Estate is an investment real estate brokerage firm that exclusively represents The information contained in this brochure does not purport to be all-inclusive
buyers and sellers of single-tenant income producing properties and shopping or to contain all of the information that a prospective purchaser may desire.
centers in the Carolinas and southeastern United States. With over 80 years Additional information and an opportunity to inspect the property will be
of investment real estate experience, Cypress has emerged as one of the top made available to interested, qualified prospective purchasers. Owner and its
boutique investment real estate firms. Cypress’ brokerage team prides itself on representatives make no representation or warranty, express or implied, as to
delivering superior client service while offering the most current and advanced the accuracy or completeness of this information, and no legal commitments
marketing techniques in today’s marketplace. Cypress has sold over $1 billion in or obligations shall rise by reason of the contents herein. Cypress Real Estate
investment properties throughout the Carolinas and eastern half of the United Partners d/b/a Cypress Commercial & Investment Real Estate represents the
States, representing both buyers and sellers in both metropolitan and rural seller in this transaction.
marketplaces.
The owner expressly reserves the right, at its sole discretion, to reject
any or all expressions of interest by any entity at any time with or without
notice. The owner shall have no legal commitment or obligation to any
entity reviewing this information or making an offer to purchase subject
property unless and until a written agreement for the purchase of the
property has been fully executed, delivered and approved by the owner.
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Dollar General
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Investment Overview / Property Highlights
INVESTMENT HIGHLIGHTS:
• Dollar General renewed early creating a new10 YRS remaining of lease term
• Two (2) rent increases of 5% and 4.75% during the extended term
• NN Lease with Corporate Guaranty by Dolgencorp, LLC
• Dollar General has over 13,000 locations in 43 states
Representative photo • S&P BBB Investment Grade Credit
• Dense, high growth area of Myrtle Beach
• HWY 707 Traffic Count: 22,100 VPD (2016 count, just north of site)
• Holmestown Road Traffic Count: 11,200 VPD (around corner from store)
PROPERT Y HIGHLIGHTS:
Location: 9491 Highway 707, Myrtle Beach, South Carolina 29588
Building: 9,100+/-SF Clear-Span Retail Building
Land Area: 1.12+/- Acres
Parking Spaces: 42 Spaces
Zoning: General Commercial Retail
Construction: 2008 construction; metal siding with EIFS facade, double door front entry, screw down metal roof
Information: This store is located on the east side of the heavily traveled HWY 707 near the corner of Holmestown Road. It is located
approximately 3 miles inland from Surfside Beach and two doors down from McDonalds. There is a new Dunkin Donuts next door
to the Dollar General store that opened in 2017. The area continues to experience high growth from all directions year over year. In
addition, SCDOT is adding two additional lanes to HWY 707.
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Lease Information
SALES SUMMARY RENT SCHEDULE
Purchase Price $1,219,034 Current - 7/31/18 $88,380
7.25% 8/1/18-7/31/23 $92,790
CAP Rate
8/1/23-5/31/27 $97,200
Price PSF $134
LEASE INFORMATION
Tenant Dolgencorp, LLC w/ Dollar General Corporate Guaranty
Annual Rental $88,380 w/ rental increases YR 1 and YR 6
Rent Start Date July 1, 2009
Lease Expiration Date May 31, 2027
Representaive Photo
Original Lease Term Ten (10) Years
Renewal Options Four (4), Five (5) Yr Options at 10% Increase
Lease Type NN
Roof/Structure Landlord Responsibility
Tenant Parking Lot
$440/mo (CAM)
Contribution
Tax & Insurance Fully reimbused by Tenant Representaive Photo
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Regional Map
Charlotte
Fayetteville
Greenville
Columbia Myrtle Beach
Athens
South Carolina
Augusta
Georgetown
Macon
Charleston
Georgia
Hilton Head Island
Savannah
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Dollar General
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Regional Map
Irmo
Columbia
Sumter
Myrtle Beach
Murrells Inlet
Orangeburg
Georgetown
Summerville
Charleston
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Regional Map
Myrtle Beach
Allentown
Surfside Beach
Garden City
Plantersville
Murrells Inlet
Litchfield Beach
Pawleys Island
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Regional Aerial
Myrtle Beach
Socastee Myrtle Beach International Airport
Surfside Beach
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Local Aerial
PD
0V
,10
22
Mrytle Beach Golf & Yacht Club Burgess Elementary School
Horry County Clerk of Court
11,200 VPD Horry County Solid Waste Authority
Creative Beginnings Child
St. James Elementary School Development Center
St. James Middle School
St. James High School
Palmetto Bays
Elementary School Indigo Creek Gold Club
Burgess Surfside Beach
International Club of Myrtle Beach
Blackmoor Gold Club International Club Indian Wells Golf Club
PAGE 10Dollar General
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Local Aerial
NEW
SCDOT
Adding
Lane
22,100 VPD
SCDOT A
dding La
ne
707 Diner
Tree of Life
Ministries
PAGE 11Dollar General
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Site Aerial
NEW
22,100
VPD
PAGE 12Dollar General
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MYRTLE BEACH, SOUTH CAROLINA
Myrtle Beach is a coastal city on the east coast of the US located in Horry County, South Carolina. it is situated on the center of a large stretch of beach known
as the “Grand Strand”. Myrtle Beach is one of the major centers of tourism in the US because of the cities warm sub-tropical climate and extensive beaches, attracting an
estimated 14 million visitors each year. As of the 2010 census the population of Myrtle Beach MSA was over 465,000 people. Myrtle Beach is located approximately 65
miles southwest of Wilmington, North Carolina and 80 miles northeast of Charleston, South Carolina. This store is close to Surfside Beach, Murrells Inlet and the Grand
Strand (Myrtle Beach). It is in a dense residential area surrounded by many golf courses and communities.
PAGE 13Dollar General
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Tenant Summary
Dollar General is a 75 year old company and is the nation’s largest small-box discount retailer
with more than 13,000 stores located in 43 states with 14 Distribution Centers and 114,000
plus employees. Dollar General helps shoppers Save Time. Save Money. Every Day. ® by offering
national branded items that are frequently used and replenished such as food, snacks, health
and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at everyday
low prices in convenient neighborhood stores. Dollar General is among the largest retailers of
top-quality products made by America’s most trusted manufacturers such as Procter and Gamble,
Kimberly Clark, Unilever, Kellogg’s, General Mills, Nabisco, and Fruit of the Loom. On October
15, 2015, Standard & Poor’s rating services upgraded its rating of DG from BBB- to BBB. For more
detailed information, see the company’s web site at dollargeneral.com.
2015 FINANCI AL RESU LTS – COMPA RE D TO 2014:
• Net sales increased by 7.7 percent to $20.4 billion or $226 PSF
• Same-store sales grew 2.8 percent over 2014, making a 26th
consecutive year
• Net income of $1.17 billion or $3.95 per diluted share, a 13% increase
• Cash flow from operations was $1.4 billion an increase of $63 million
PAGE 14Dollar General
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Demographics
POPULATION 1 mile 3 miles 5 miles
2021 Projection 5,143 35,955 79,448
2016 Estimate 4,388 31,374 70,407
2010 Census 3,582 26,693 61,038
2000 Census 1,883 16,375 43,031
Growth Rate 2000-2010 6.64% 5.01% 3.56%
Growth Rate 2010-2016 3.30% 2.62% 2.31%
Growth Rate 2016-2021 3.23% 2.76% 2.45%
HOUSEHOLDS
2016 Total Households 1,647 13,361 31,076
2021 Total Households 1,926 15,577 35,009
2000-2010 Annual Rate 6.62% 4.96% 3.51%
2010-2016 Annual Rate 3.52% 2.55% 2.29%
2016-2021 Annual Rate 3.18% 2.70% 2.41%
2016 Median Household Income $52,131 $45,880 $45,055
2016 Average Household Income $70,551 $49,893 $60,746
PAGE 15cypresscommercial.com
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