Dollar General - Burlington, CO - OM

AGENT QUALIFICATIONS Dollar General - Burlington, CO
Offering Memorandum Presented by:
999 Rose Avenue, Burlington, CO 80807
DOLLAR GENERAL

The information contained in the following Marketing Brochure is proprietary and strictly
confidential. It is intended to be reviewed only by the party receiving it from Marcus
& Millichap and should not be made available to any other person or entity without the
written consent of Marcus & Millichap. This Marketing Brochure has been prepared to
provide summary, unverified 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, PCB’s or asbestos, the compliance with 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 Marketing Brochure
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.
Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, spon-
sored by, or endorsed by any commercial tenant or lessee identified in this marketing package.
The presence of any corporation’s logo or name is not intended to indicate or imply affiliation
with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries,
or any agent, product, service, or commercial listing of M&M, and is solely included for the
purpose of providing tenant lessee information about this listing to prospective customers.
NON-ENDORSEMENT NOTICE
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT WITH THE LISTING BROKER
OR LANDLORD ONLY. UNDER NO CIRCUMSTANCES, SHOULD ANY PROSPEC-
TIVE PURCHASER OR RELATED ENTITY CONTACT THE TENANT OR ANY OF THE
EMPLOYEES AT THESE STORES. RECIPIENTS OF THIS OFFERING MEMORANDUM
ACKNOWLEDGE THAT SUCH CONTACT MAY DAMAGE THE TENANT’S OPERA-
TIONS WHICH WOULD IMPAIR THE FINANCIAL RESULTS. LANDLORD RESERVES
THE RIGHT TO SEEK LEGAL REDRESS FOR ANY DAMAGE THAT MAY OCCUR
FROM SUCH INTERFERENCE WITH LANDLORD’S RELATIONSHIP WITH TENANT.
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 representation 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 confi rm 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 satisfaction 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 property 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.
CONFIDENTIALITY & DISCLAIMER

EXECUTIVE SUMMARY
Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Tenant Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
PROPERTY DESCRIPTION
Regional Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Aerial Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-15
Exclusively listed by:
OFFICES NATIONWIDE
www.marcusmillichap.com
TABLE OF CONTENTS & BROKER CONTACTS:
Madison Schaffner
Marketing & Transaction Coordinator
The Isaac Group
DENVER OFFICE
Tel: (303) 328-2037
Fax: (303) 328-2010
mschaffner@marcusmillichap.com
Brian Bailey
Associate
Net Leased Properties Group
DENVER OFFICE
Tel: (303) 328-2018
Fax: (303) 328-2010
brian.bailey@marcusmillichap.com
Cassandra Mosser
Associate
DENVER OFFICE
Tel: (303) 328-2066
Fax: (303) 328-2010
cmosser@marcusmillichap.com
Drew Isaac
Vice President Investments
Director, Net Leased Properties Group
DENVER OFFICE
Tel: (303) 328-2048
Fax: (303) 328-2010
drew.isaac@marcusmillichap.com

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

5
Dollar General - Burlington, CO
This is a broker price opinion or comparative market analysis of value and should not be considered an appraisal. 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. © 2016 Marcus & Millichap ACT ID: X0050297

EXECUTIVE SUMMARY
6
Invesment Overview
DOLLAR GENERAL
Marcus & Millichap has been retained as an exclusive marketing advisor for the sale of a single-
tenant, net-leased, Dollar General located in Burlington, CO.
This offering is inclusive of a 7.25 year double net lease (NN) with three five-year options backed
by a corporate guarantee. The Tenant is responsible for property taxes, insurance and common
area maintenance while the Landlord is responsible for the roof and structure.
The 12,766 square foot property was built in 1976 and renovated in 2010 when Dollar General
moved in. Dollar General benefits from excellent visibility located directly off Interstate 70, and has
quick access to Hwy 284 and Hwy 385. As the nation’s largest “small box” discount retailer, Dollar
Generals thrive in smaller markets like Burlington, CO.
Burlington, CO (population 4,397) was established in 1888 along the Rock Island Railroad track
during its construction. Burlington was in the works to become a junction town; however plans for
additional railroad lines didn’t materialize. Today, Burlington is the gateway to the Rocky Mountains
as the town is located directly on I-70 (175 miles East of Denver) and is also accessed from Highway
385 and Highway 24. Agricultural remains the base of the economy as one of the top producing
corn and wheat counties in the State. However, this Eastern Colorado oasis is becoming more
diversified with manufacturing and tourism contributing to the economic base. In the past year
alone, Love’s Travel Stop coupled with three new hotels along the I-70 corridor were constructed
and opened for business helping to create economic progress for the community, resulting in
consistent population and job growth. Burlington enjoys low unemployment rates compared to
the State average. Numerous national retailers have expanded in to the area including Napa
Auto Parts, Shopko Hometown, Bomgaars, 21st Century Equipment, Eastern Colorado Seeds and
includes one of the top-producing GMC dealerships in the Country. Burlington is the county seat
for Kit Carson County and will be celebrating its 100th Fair and Rodeo in 2017.
Dollar General makes shopping for everyday needs simple and hassle-free by saving custom-
ers time and money with small neighborhood stores and carefully edited merchandise. The
Company offers a selection of merchandise, including consumable products such as food,
paper and cleaning products, health and beauty products, pet supplies and tobacco prod-
ucts, and non-consumable products such as seasonal merchandise, home decor
and domestics, and basic apparel. Dollar General is focused on serving the needs of the
low, low-middle and fixed income consumers. Dollar General has over 12,400 locations in 40
states, making it the nation’s largest small box discount retailer in the U.S. annually.
Investment Highlights
nn Double Net (NN) Corporate Lease
nn 7.25 Years Remaining on Lease
nn Tenant Recently Renewed, has been at this Location Since 2010
nn Located Directly Off Interstate 70 and has Quick Access to Hwy 24 and Hwy 385
nn 10% Increases Each Option Period
nn Recently Refurbished Roof
nn Corporate Guarantee (NYSE: DG)
nn Easy Management Investment

EXECUTIVE SUMMARY
7
Financial Overview
DOLLAR GENERAL
OFFERING SUMMARY
Price $807,000
Net Operating Income $56,540
CAP Rate 7.00%
Price/SF $63
LEASE SUMMARY
Tenant Name DG Retail, LLC
Lease Guarantor Dollar General Corp.
Guarantee Type Corporate
Lease Type Double Net (NN)
Roof & Structure Landlord
Lease Commencement Date 1/26/2010
Rent Commencement Date 2/8/2010
Lease Expiration Date 12/31/2023
Full Lease Term 13 Years
Lease Term Remaining 7.25 Years
Renewal Options 3 X 5-Year Options
Rent Increases 10% Every Option Period
ANNUALIZED OPERATING DATA
Term
Base Rent
Annual
Base Rent
Monthly
1/26/2010 - 12/31/2023 $56,540 $4,712
Options
1/1/2024 - 12/31/2028 $62,194 $5,183
1/1/2029 - 12/31/2033 $68,413 $5,701
1/1/2034 - 12/31/2038 $75,252 $6,271
NOI $56,540 $4,712
PROPERTY SUMMARY
Year Built / Renovated 1976 / 2010
Rentable Square Feet 12,766 SF
Lot Size 2.03 Acres
Type of Ownership Fee Simple

EXECUTIVE SUMMARY
8
Tenant Overview
Incorporated in May of 1998, Dollar General Corporation is now the largest discount retailer in the United States by number of stores, with 12,500 stores located in 43 states,
4, primarily in the southern, southwestern, midwestern, and eastern United States. Dollar General offers a broad selection of merchandise, including consumable products
such as food, paper and cleaning products, health and beauty products, pet supplies, tobacco products, and non-consumable products such as seasonal merchandise,
home decor and domestics, and basic apparel. Dollar General offers national brand and private brand products at everyday low prices (typically $10 or less) in convenient
small-box (small-store) locations.
The Company offers a product assortment of everyday necessities and items in a range of general merchandise categories. It sells national brands from manufacturers
such as Procter & Gamble, PepsiCo, Coca-Cola, Nestle, General Mills, Unilever, Kimberly Clark, Kellogg’s and Nabisco. The Company operates its merchandise into four
categories: consumable, seasonal, home products and apparel. Consumable category includes paper and cleaning products (such as paper towels, bath tissue, paper
dinnerware, trash and storage bags, laundry and other home cleaning supplies); packaged food (such as cereals, canned soups and vegetables, condiments, spices, sugar
and flour); perishables (such as milk, eggs, bread, frozen meals, beer and wine); snacks (including candy, cookies, crackers, salty snacks and carbonated beverages); health
and beauty (including over-the-counter medicines and personal care products, such as soap, body wash, shampoo, dental hygiene and foot care products); pet (including
pet supplies and pet food), and tobacco products. Seasonal products include decorations, toys, batteries, small electronics, greeting cards, stationery, prepaid phones
and accessories, gardening supplies, hardware, automotive and home office supplies. Home products includes kitchen supplies, cookware, small appliances, light bulbs,
storage containers, frames, candles, craft supplies and kitchen, bed and bath soft goods. Apparel includes casual everyday apparel for infants, toddlers, girls, boys, women
and men, as well as socks, underwear, disposable diapers, shoes and accessories.
Headquarters Goodlettsville, TN
Stock Symbol Public (NYSE: DG)
Founded 1998
Locations 12,500+
Website www.dollargeneral.com

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

10
PROPERTY DESCRIPTION Dollar General - Burlington, CO
Burlington

11
BURGER
KING
BURLINGTON
MIDDLE SCHOOL
BURLINGTON
ELEMENTARY SCHOOL
MCDONALD’S
HWY 24 | ROSE AVENUE
KIT CARSON
COMBINED COURT

12

13

EXECUTIVE SUMMARY
14
INCOME 1-MILE 3-MILES 5-MILES
$ 0 - $14,999 12.2% 12.2% 12.1%
$ 15,000 - $24,999 16.1% 15.7% 15.5%
$ 25,000 - $34,999 13.4% 13.0% 12.9%
$ 35,000 - $49,999 11.5% 12.2% 12.4%
$ 50,000 - $74,999 26.2% 25.3% 25.3%
$ 75,000 - $99,999 12.2% 12.2% 12.3%
$100,000 - $124,999 5.6% 5.6% 5.6%
$125,000 - $149,999 1.4% 1.6% 1.6%
$150,000 - $199,999 0.6% 1.2% 1.2%
$200,000 - $249,999 0.5% 0.6% 0.6%
$250,000 + 0.4% 0.5% 0.5%
2014 Median Household Income $43,730 $44,613 $44,985
2014 Per Capita Income $17,283 $18,505 $18,948
2014 Average Household Income $52,034 $53,272 $53,479
POPULATION 1-MILE 3-MILES 5-MILES
2000 Population 3,595 4,254 4,364
2010 Population 3,904 4,586 4,716
2014 Population 3,715 4,391 4,508
2019 Population 3,700 4,381 4,498
HOUSEHOLDS 1-MILE 3-MILES 5-MILES
2000 Households 1,156 1,415 1,462
2010 Households 1,208 1,471 1,517
2014 Households 1,220 1,486 1,533
2019 Households 1,236 1,506 1,552
2014 Average Household Size 2.35 2.39 2.39
2014 Daytime Population 1,566 1,704 1,772
2000 Owner Occupied Housing Units 62.36% 62.77% 62.72%
2000 Renter Occupied Housing Units 28.50% 27.58% 27.44%
2000 Vacant 9.14% 9.65% 9.84%
2014 Vacant 7.75% 7.73% 7.83%
2019 Vacant 7.36% 7.34% 7.44%
Demographics

EXECUTIVE SUMMARY
15
Population
In 2014, the population in Burlington, CO was 4,508. The population
has changed by 3.30% since 2000. It is estimated that the population in
Burlington will be 4,497 five years from now, which represents a change
of 0.23% from the current year. The current population is 56.11% male
and 43.88% female. The median age of the population in Burlington is
38.2, compare this to the Entire US average which is 37.3. The population
density in Burlington is 57.32 people per square mile.
Households
There are currently 1,532 households in Burlington. The number of
households has changed by 4.80% since 2000. It is estimated that the
number of households in Burlington will be 1,552 five years from now,
which represents a change of 1.29% from the current year. The average
household size in Burlington is 2.39 persons.
Income
In 2014, the median household income for Burlington is $44,985, compare
this to the Entire US average which is currently $51,972. The median
household income for Burlington has changed by 32.36% since 2000. It is
estimated that the median household income in Burlington will be $52,834
five years from now, which represents a change of 17.44% from the current
year.
The current year per capita income in Burlington is $18,947, compare
this to the Entire US average, which is $28,599. The current year average
household income in Burlington is $53,479, compare this to the Entire US
average which is $74,533.
Race and Ethnicity
The current year racial makeup of Burlington is as follows: 85.49% White,
3.01% Black, 0.17% Native American and 0.59%Asian/Pacific Islander.
Compare these to Entire US averages which are: 71.60% White, 12.70%
Black, 0.18% Native American and 5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People
of Hispanic origin make up 24.79% of the current year population in
Burlington. Compare this to the Entire US average of 17.13%.
Housing
In 2000, there were 1,017 owner occupied housing units in Burlington and
there were 444 renter occupied housing units in Burlington. The median
rent at the time was $363.
Employment
In 2014, there were 1,772 employees in Burlington, this is also known as the
daytime population. The 2000 Census revealed that 57.84% of employees
are employed in white-collar occupations in this geography, and 42.31%
are employed in blue-collar occupations. In 2014, unemployment in this
area is 3.94%. In 2000, the average time traveled to work was 12.7 minutes.
Demographics

presented by
OFFICES NATIONWIDE
www.marcusmillichap.com
Investment Sales:
Presented by:
Madison Schaffner
Marketing & Transaction Coordinator
The Isaac Group
DENVER OFFICE
Tel: (303) 328-2037
Fax: (303) 328-2010
mschaffner@marcusmillichap.com
Brian Bailey
Associate
DENVER OFFICE
Tel: (303) 328-2018
Fax: (303) 328-2010
brian.bailey@marcusmillichap.com
Cassandra Mosser
Associate
DENVER OFFICE
Tel: (303) 328-2066
Fax: (303) 328-2010
cmosser@marcusmillichap.com
Drew Isaac
Vice President Investments
Director, Net Leased Properties Group
DENVER OFFICE
Tel: (303) 328-2048
Fax: (303) 328-2010
drew.isaac@marcusmillichap.com

Dollar General - Burlington, CO - OM

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