OFFERING MEMORANDUM
222 MAIN ST | ROMEO, CO PRICE: $1,794,000 | CAP: 5.35%
REPRESENTATIVE PHOTOS DOLLAR GENERAL | ROMEO, CO
EXECUTIVE SUMMARY
PRICE CAP NOI
$1,794,000 5.35% $95,989
LOCATION 222 MAIN ST. ROMEO, CO 81148
LEASE TYPE ABSOLUTE NNN
LEASE EXPIRATION MAY 31ST, 2035
LESSEE DOLLAR GENERAL
GUARANTOR CORPORATE
OPTIONS 3 5 YEAR OPTIONS
INCREASES 10% IN OPTION PERIODS FLAT LEASE DURING INITIAL TERM
LAND SIZE ±0.80 ACRES
BUILDING SIZE ±9,026 SQUARE FEET
ROFR NO
REPRESENTATIVE PHOTOS DOLLAR GENERAL | ROMEO, CO
This property has an absolute NNN lease that will expire May 31st, 2030. There are (3) 5-year options and 10% BANG REALTY IS PLEASED TO BE increases in the option periods with a flat lease during the initial term. The building is ±9,026 square feet and sits on THE EXCLUSIVE LISTING ±0.80 acres of land. The property was built in 2020. The property has a corporate guarantee and the lessee is Dollar BROKERAGE FOR DOLLAR General. This property is located off Main St and hwy 285. This Dollar General location is also only ±16 miles from the GENERAL IN ROMEO, COLORADO. San Luis Valley Regional Airport and ±20 miles from the city of Alamosa. DOLLAR GENERAL | ROMEO, CO REPRESENTATIVE PHOTOS
PROPERTY OVERVIEW
• Corporate Guarantee
• Absolute NNN
• New Construction (2020)
• 14 Years Remaining
• 20 Miles from San Luis Valley Regional Airport ABOUT ROMEO | COLORADO
Romeo is a town located in Conejos County, Colorado. As the county seat and the most populous municipality of Alamosa County, Alamosa is steadily growing with extensive construction and improvements to infrastructure and local retail centers. Alamosa has become the natural hub for retail and services to the San Luis Valley. Home to Alamosa National Wildlife Refuge, San Luis State Park, and the Great Sand Dunes National Park, Alamosa has seen a 25% increase in tourism in 2017 from the ROMEO IS LOCATED ±20 MILES previous year. Alamosa is a city under Home Rule Municipality that is the county seat and the most populous municipality of OUTSIDE OF ALAMOSA, THE COUNTY Alamosa County, Colorado. The city of Alamosa is the commercial center of the San Luis Valley in south-central Colorado. There SEAT OF ALAMOSA COUNTY. are multiple supermarkets, fast food restaurants, and pharmacies. Alamosa is also home to two medical clinics, a regional hospital (San Luis Regional Medical Center), and an airport (San Luis Valley Regional Airport). Two Colleges claim Alamosa as their home; Adams State University: a four-year, state-supported university founded in 1921, and Trinidad State Junior College: a two-year college that offers many degrees. Alamosa is home to Cattails Golf Course, an 18-hole championship course with a clubhouse that opened in 2008. As of 2017, the city population was approximately 9,871 people. Alamosa was known for the DOLLAR GENERAL | ROMEO, CO Rio Grande Railroad and was an important rail center. The railroad had an extensive construction, repair and shipping facility in Alamosa for many years and headquartered its remaining narrow gauge service here with trackage reaching many points throughout southwest Colorado and northern New Mexico. DOLLAR GENERAL | ROMEO, CO
PROPERTY SURVEY SURVEY OVERLAY IS APPROXIMATE BUYER TO VERIFY ALL INFORMATION DOLLAR GENERAL | ROMEO, CO Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. Dollar General operated 15,472 stores in 44 states as of March 2019. In addition to high quality private brands, Dollar General sells products from America's THERE ARE MORE THAN most-trusted brands such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg's, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. ±15,590 DOLLAR GENERAL STRATEGY Dollar General sells similar products as wholesale retailers WalMart (WMT) and Target (TGT), but typically at lower prices. Because LOCATIONS. of this, during harsh economic conditions, many consumers may make the change of shopping at Dollar General instead of a regular wholesale retailer. Dollar General’s (DG) business strategy revolves around driving profitable top line growth while enhancing its low-cost operator position and capturing new growth opportunities. The company attempts to drive profitable top line growth through strategies like improving the in-stock position of its stores and continuously offering products at competitive prices. | SNELLVILLE, GA SK BEAUTY CHIPOTLE | CHICAGO, IL
AREA DEMOGRAPHICS
POPULATION 3 MILE 5 MILE 10 MILE HOUSEHOLDS 3 MILE 5 MILE 10 MILE TOTAL POPULATION 2020 1,521 2,383 6,534 TOTAL HOUSEHOLDS 2020 558 860 2,450 MEDIAN AGE 35.4 36.3 37.7 AVERAGE HH SIZE 2.8 2.8 2.7 AVERAGE HH VEHICLES 2 2 2
INCOME 3 MILE 5 MILE 10 MILE HOUSING 3 MILE 5 MILE 10 MILE AVERAGE HH INCOME $51,046 $50,391 $49,615 MEDIAN HH INCOME $36,646 $35,409 $35,363 MEDIAN HOME VALUE $116,470 $114,980 $113,731 MEDIAN YEAR BUILT 1971 1971 1970
±6,500 RESIDENTS WITHIN 5 MILES TRAFFIC COUNTS S MAIN ST ±2,678 VDP US HWY 285 ±5,485 VDP $50,000 AVG INCOME WITHIN 5 MILES CONFIDENTIALITY DISCLAIMER
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Bang Realty and it should not be made available to any other person or entity without the written consent of Bang Realty. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Bang Realty. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Bang Realty 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 of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors. The information contained in this offering memorandum has been obtained from sources we believe reliable; however,
Bang Realty has not verified, and will not verify, any of the information contained herein, nor has Bang Realty 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. The information contained herein has been obtained from the owner of the property or from other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. If you have no interest in the Property, please return this Offering Memorandum to Bang Realty. BRIAN BROCKMAN BANG REALTY CONTACT US COLORADO BROKER [email protected] COLIC: #IR.100075683