1031 PROPERTY

Dollar General

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State	MI
Sale price	$ 788,129
Cap Rate	7.75%
Lease Term (Years)	10.00
Credit Rating	AA
Net Worth	50 Million
Lease Type	NN
Landlord Responsibilities	Net Net Lease. Landlord is responsible for maintenance, repair and replacement of the exterior of the premises including, but not limited to, the roof, all paved and grass or landscaped areas, foundation, floors, walls, all interior and exterior utility lines and pipes and all other structural portions of the building. Landlord shall at all times furnish heating, lighting, plumbing and air conditioning equipment in the premises and shall be responsible for the entire cost of major repairs and replacement of all such equipment. Major repairs are defined as any repairs costing one thousand ($1,000.00) dollars or more per occurrence. Please note, the Rent Commencement date is an estimate.
Property Type	Retail
Guarantor	Dollar General Corporation
Tenant Mix
Tenant Number
Tenant Web Site	http://dollargeneral.com/
Tenant Information	Dollar General (NYSE:DG) is a discount retailer that pioneered the dollar store concept in 1955. Dollar General is now a Fortune 500 company and is the largest dollar store retailer in the nation. The company has over 7,400 stores and reported revenue of over $6.9 billion in 2004. Dollar General stores are concentrated in under-served rural and urban neighborhoods. The company focuses on highly consumable merchandise and over thirty-three percent of its merchandise is still priced at $1 or less. The company continues to exhibit strong growth, as 2004 was the seventeenth consecutive year the company increased its total number of store units. Dollar General opened 722 stores in 2004 and has over 60,000 employees in 30 states. Sales history includes $624,477 in 2003, $838,493 in 2004 and $61,395 for the 1st month of 2005.
Ticker Symbol	DG
NOI	$ 61,080.00
Rent Adjustments	Years 1-10: $61,080
Percentage Rent	N/A
Lease Renewal Options	Three 5-year options at $67,668, $74,880 and $82,920
Lease Term (Years)	10.0
Price per Square Foot	$ 87.43
Rent per Square Foot	$ 6.78
Property Status	Available
Lease Commencement	November 2004
Rent Commencement	July 2005
Notes on Lease	Net Net Lease. Landlord is responsible for maintenance, repair and replacement of the exterior of the premises including, but not limited to, the roof, all paved and grass or landscaped areas, foundation, floors, walls, all interior and exterior utility lines and pipes and all other structural portions of the building. Landlord shall at all times furnish heating, lighting, plumbing and air conditioning equipment in the premises and shall be responsible for the entire cost of major repairs and replacement of all such equipment. Major repairs are defined as any repairs costing one thousand ($1,000.00) dollars or more per occurrence. Please note, the Rent Commencement date is an estimate.
Square Feet	9,014
Land Area	46,250 Sq.Ft.
Year Built	2005
Year Rennovated
Existing Financing	No
Loan Amount
Loan Term	N/A
Loan Rate
Balloon	N/A
Equity
Loan Assumption Fee
Loan Prepayment Fee
Cash on Cash
Debt Notes	N/A