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Founded in 1939 with a current number of stores across the US set on 16,278 (as of January 2020). Dollar General is one of the hottest real state available to investors.
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DG stores have been historically placed both as tenants in strip malls and free staging single-tenant setting. Available in the market are both NN and NNN. All new DG leases are set for 15 years on the first term with bumps of 10% rent increase on each option thereafter (mostly 4 x 5 years extension options). All leases are corporate leases, not franchise available.
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DG is a true recession-proof asset. DG's business model includes a mix of site selection of stores from rural areas to condensed urban locations. The company runs its own fleet and distribution channels throughout the US.
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Average National Asking Price: $1,350,000
Typical Years on First Term: 15
Average National Rent (yearly basis): $98,000
Credit Rating: S&P BBB-
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Dollar Tree & Family Dollar (DLTR:NASDAQ)
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Founded in the early 1950's Dollar Tree has been running the retailer based on 1$ and less concept. In 2015 Dollar Tree acquired Dollar Family and since then been operating nearly 15,000 stores across the US.
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Dollar Tree and Family Dollar stores have been historically placed both as tenants in strip malls and free-standing single-tenant setting. Available in the market are both NN and NNN, but mostly NN. All new Dollar Tree and Family Dollar leases vary in times and terms, but they run many years on first lease term and carry attractive lease renewal and rent increases.
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Both Dollar Tree and Family Dollar are true recession-proof assets. Dollar Tree's business model includes a mix of site selection of stores from rural areas to condensed urban locations. The company runs its own fleet and distribution channels throughout the US.
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Average National Asking Price: Dollar Tree $1,750,000, Family Dollar $1,400,000
Typical Years on First Term: 10
Average National Rent: Dollar Tree $121,000, Family Dollar $100,000
Credit Rating: S&P BBB-
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Walgreens (WBA:NASDAQ)
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Founded in 1849 as Boots, Walgreens has been operating as a drug wholesaler and drugstore owner/operator of Walgreens, Duane Reade, and Rite-Aid.
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The company operates about 1200 retail drugstores in the US with all its brands and subsidiary and about 4000 retail stores worldwide.
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Walgreens leases vary in times and terms. First-term on leases run between 20-25 years with options of 5-10 years and can reach an overall lease duration of 75 years.
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Walgreens runs a very selective site location process and will acquire and change successful business and locations. Available in the market are both NN and NNN free-standing assets, as well as tenants in strip-malls.
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Average National Asking Price: $6,650,000
Typical Years on First Term: 20
Average National Rent: $415,000
Credit Rating: S&P: BBB, Moody's: Baa2
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CVS Pharmacy (NYSE: CVS)
Founded in 1963 and has been operating 9941 stores in the US (2019).
CVS leases vary in times and terms. First-term on leases run between 20-25 years with options of 5-10 years.
CVS runs a very selective site location process and will acquire and change successful business and locations. Available in the market are both NN and NNN free-standing assets, as well as tenants in strip-malls.
Average National Asking Price: $5,400,000
Typical Years on First Term: 20-25
Average National Rent: $315,000
Credit Rating: S&P: BBB, Moody's: Baa2
Da Vita Kidney Care (DVA:NYSE)
Da Vita was founded in 1979 as Medical Ambulatory Care, Inc. The company now provides kidney dialysis services through a network of 2,753 outpatient dialysis centers in the US.
Da Vita centers leases are typically set to 15 years terms with escalations. Both NN and NNN leases are circulating in the market.
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Average National Asking Price: $3,900,000
Typical Years on First Term: 15
Average National Rent: $240,000
Credit Rating: S&P: BB, Moody's: Ba2
Fresenius Kidney Care (FMS:NYSE)
Originated in 1462 in Frankfurt, Germany, as a pharmacy, and In 1996, the merger of Fresenius' dialysis business with the U.S. dialysis provider National Medical Care resulted in the creation of Fresenius Medical Care, the world's leading dialysis provider. In the US, Fresenius operates 3,900 facilities nationwide.
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Average National Asking Price: $3,500,00
Typical Years on First Term: 15
Average National Rent: $225,000
Credit Rating: Moody's: Baa3
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Advanced Auto Parts (AAP:NYSE)
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Founded in 1932 in Roanoke VA, Advanced Auto Parts is an aftermarket vehicle parts retailer with 4,843 stores and 168 World-pac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,258 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. Available with both NN and NNN Assets.
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Average National Asking Price: $1,400,000
Typical Years on First Term: 15 Years
Average National Rent: $102,000
Credit Rating: S&P BBB-
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O'Reilly Auto Parts (ORLY:NASDAQ)
The company was founded in 1957 in Springfield, MO, with currently 5,512 stores in 47 U.S. states and 21 stores in Mexico. O'Reilly is an aftermarket auto parts retailer. Available with both NN and NNN Assets.
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Average National Asking Price: $1,850,000
Typical Years on First Term: 15-20 Years
Average National Rent: $110,000
Credit Rating: S&P BBB+
7-Eleven (Seven & I Holdings Co., Ltd. (SVNDY)
7-Eleven Inc. is an American-International chain of convenience stores. The company's headquarters are located in Dallas, TX, and operate about 71,100 stores both as free-standing with/without gas station pumps and in various other settings.
Founded in 1927 as an ice house storefront in Dallas, in 1991, was acquired by Ito-Yokado from Japan and reorganized as a subsidiary, now held by Chiyoda, Tokyo-Based, Seven & I Holdings Co., Ltd.
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Average National Asking Price: $3,200,000
Typical Years on First Term: 15 Years
Average National Rent: $110,000
Credit Rating: S&P AA-
McDonald's (Mcdonald's Corp NYSE: MCD)
McDonald's Corporation is an American fast-food company, founded in 1955 as a restaurant operated by Richard and Maurice McDonald. The company owns about 45% of the land and 70% of the buildings of their 37,855 locations in the US market (the rest are leased to their operators). McDonald's business model includes company-owned and franchisees alike.
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Average National Asking Price: $1,900,000
Typical Years on First Term: 20 Years, Ground Lease, with Escalations.
Average National Rent: $82,000
Credit Rating: S&P BBB+
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Kentucky Fried Chicken (KFC)
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Founded in 1952 in North Corbin, KY, and selling fried chicken, KFC is one of the famous quick-service restaurants with 22,621 locations in the US and all over the world.
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Average National Asking Price: $1,400,000
Typical Years on First Term: 20 Years with Escalations.
Average National Rent: $80,000
Credit Rating: S&P BB (Subsidiary)
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