397 Springdale Ave, East Orange, NJ 07017 | Dollar General | $1,575,000

The subject property is NN leased to Dollar General Corporation (S&P Rated BBB). The base term of the lease expires in January of 2029, with one-five year option to follow with a rent increase to $113,040. The landlord responsibility is limited to roof, structure, and parking lot. The property used to be occupied by Family Dollar and was recently taken over by Dollar General. The Family Dollar lease still applies until January 31, 2019, at which point, the Dollar General lease amendment will apply. The Family Dollar rent is $90,000 annually until January 31, 2019. Beginning February 1, 2019, Dollar General will be paying $105,000 annually. Dollar General (NYSE: DG) is rated “BBB“ by Standard & Poor’s. As of August 19, 2017, it operated 14,000 stores located in 44 states. The company also had $22 billion in sales in fiscal 2016. Long-term NN Lease – Over 11 years remaining on the base term. In addition, Dollar General also has one 5 year option with an increase to $113,040 annually. One of the most densely populated areas in East Orange. Over 1,800 apartment units within a 1/4 mile radius. Convenient access to mass transportation – NJ Transit bus stop located directly in front of the subject property. East Orange train station is less than 1 mile from the subject property. Easy access to major highways – Only 2 blocks away from the Garden State Parkway and approximately 1 mile from I-280. The subject property has superior Dollar Store demographics. Over 380,000 people within 3 miles with an average household income of over $66,000.