Dollar General in Currie, North Carolina

Dollar General Coming 2017
NWC Highway 210 and Highway 421
Currie, North Carolina 28435
BRAND NEW DOLLAR GENERAL WITH 15-YEAR CORPORATE LEASE

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 Marcus & Millichap and it should not be made available to any
other person or entity without the written consent of Marcus & Millichap. 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 at this time, please return this offering memorandum to Marcus & Millichap.
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. 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, PCBs
or asbestos, the compliance with local, 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 offering memorandum 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. Prospective buyers shall be responsible for their costs and expenses of investigating the
subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
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 confirm 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 Agreement
Net Leased Disclaimer

Kevin Boeve
Senior Vice President Investments
ONTARIO OFFICE
Tel: (909) 456-3450
kevin.boeve@marcusmillichap.com
CA License: 01247016
Pablo Rodriguez
Senior Associate
ONTARIO OFFICE
Tel: (909) 456-7032
pablo.rodriguez@marcusmillichap.com
NV License: NV S. 0175422
Kyle Blatt
Associate
ONTARIO OFFICE
Tel: (909) 456-3475
kyle.blatt@marcusmillichap.com
PRESENTED BY

TABLE OF CONTENTS
EXECUTIVE SUMMARY
Executive Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Tenant Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Dollar General in the News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
FINANCIAL OVERVIEW
Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
PROPERTY DESCRIPTION
Parcel Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Aerial Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
MARKET OVERVIEW
Currie, North Carolina . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
COMPARABLES
Sold and On Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-16
COMPARABLES
Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

New 15-Year Triple Net Investment Opportunity With Zero Landlord Responsibilities
Five, Five-Year Options With 10 Percent Rent Increases
New 2017 Construction | Slated for June 2017 Delivery
Frontage at Intersection of Highway 210 and Highway 421 With Traffic Counts of More
Than 10,800 Cars Per Day | Highest Traffic Location in Currie, NC
Virtually Zero Nearby Competition | Walmart, Family Dollar, and Dollar Tree More Than
10 Miles Away
Tenant is Nation’s Largest Small-Box Discount Retailer With Over 13,000 Locations in
40 States
Standard & Poor’s Investment Grade (S&P. “BBB”) Tenant | The Only Small-Box Retailer
With Investment Grade Credit
Dollar General Has $17.5 Billion in Sales Volume and is Ranked #139 in Fortune 500
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. © 2011 Marcus & Millichap ACT ID Y0080274 2
Intersection of Highway 210 and
Highway 421
10,800 CPD
Marcus & Millichap is pleased to exclusively market for sale a Dollar Gen-
eral store of approximately 9,100 square feet located in Currie, North Car-
olina. The Dollar General is located on the intersection of Highway 210
and Highway 421, the highest traffic location in the entire town of Currie,
North Carolina.
The Dollar General is currently under a brand new, 15-year Triple Net Lease
with 10 percent rent increases in each of the five, five-year renewal options.
The lease is guaranteed by Dollar General Corporation, which is publicly
traded on the New York Stock Exchange under the ticker “DG” and has a
current “BBB” credit rating by Standard & Poors.
Currie is part of Pender County, North Carolina; a county poised to develop
and recruit business and industry to the area. With infrastructure and a job-
ready workforce, Pender County takes a progressive and business-friendly
approach to companies that create jobs and investment in the county. A
variety of local and state economic incentive programs are available.
overview
investment highlights

tenant overview
43
performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID Y0080274
Dollar General (NYSE: DG) is a chain of more than 13,000 discount stores in 43 states, primarily in
the South, East, Midwest, and Southwest, offering basic household items, such as cleaning supplies,
health, and beauty aids, apparel, and food. The target is low, middle, and fixed-income shoppers.
The company has grown into the country’s largest small-box discount retailer. Stores are often
located in small towns off the radar of giant discounters. One of Dollar General’s main advantages
is that it offers prices as low or lower than Walmart but in more convenient locations. Dollar General
has more stores than other retailers and is easily the largest dollar store chain.
The company ranks 139th on the Fortune 500 list. Fiscal 2016 revenues exceed $20.3 billion with
a net income of $1.17 billion, and net worth of $5.3 billion.
In July 2015, Family Dollar was acquired by Dollar Tree and ceased to be a public company.
Dollar Tree took on billions of dollars of debt to acquire Family Dollar, and that negatively impacted
the credit rating of both companies. Moreover, Family Dollar, as a subsidiary of Dollar Tree, no
longer issues separate financial statements.
The best-known rating agency, Standard & Poor’s, downgraded Family Dollar in July, alongside
Dollar Tree having already been downgraded.
The combined Dollar Tree-Family Dollar entity will have approximately the same amount of
revenue as Dollar General, but more debt, hence the lower credit rating.
Dollar General is now the only dollar store chain with an investment grade rating. Dollar General
has been credit-upgraded five times since going public in 2009, most recently in October 2015.
It is now “BBB.”
DOLLAR GENERAL IS THE COUNTRY’S LARGEST
SMALL-BOX DISCOUNT RETAILER
Prototype Dollar Generals have a standard box structure with a flat roof.
Company Type:
PUBLIC (NYSE: DG)
Fiscal 2015 Sales
$20.4 BILLION
S&P 500 Credit Rating
“BBB”
2015 Fortune 500
#139
Number of Stores
12,483
The Three Largest Discount Store Chains, Ranked by 2015 Revenue Are:
Ranking Store Chain Revenue # 0f Stores
1 Dollar General $20.3 Billion 13,000+
2 Family Dollar $10.5 Billion 8,000+
3 Dollar Tree $8.6 Billion 13,600+

8
dollar general in the news
Representative Photo

5
dollar general in the news
Dollar General is Starting to Look a Lot Like Wal-Mart
Doling Out Pay Increases to Managers
It’s no longer enough for retailers to compete on price alone. To improve the cleanliness and availability of products in its
stores, Dollar General will take a 16 cents per share hit to boost compensation for its managers and ramp up their training.
In the stores where it’s already rolled out these changes, Dollar General has seen lower turnover among managers and
hourly employees, CEO Todd Vasos said on the company’s earnings call. It’s also seen higher sales in those locations. This
decision follows Wal-Mart’s $2.7 billion investment into better training and pay for its employees, which it has credited for
higher customer service scores.
Investing in Lower Prices
There’s an all-out price war happening across retail. That includes both Dollar General and Wal-Mart. Shortly after Wal-
Mart said it would move faster to lower prices, Dollar General rolled out price cuts on hundreds of items across 17 percent
of its stores. “These locations have performed better than the chain average ever since,” Vasos said. While the company will
continue monitoring prices, it doesn’t anticipate further price cuts at this time, the CEO said.
Bringing in Fresh Produce
Dollar General’s food offering has traditionally skewed toward packaged goods. But as its customers ask for healthier
options, the retailer sees more opportunity in perishable items. The company is already testing fresh produce in some of its
stores, including the 41 locations it purchased from Wal-Mart last year after it shuttered the Express format. Dollar General
will now expand that pilot to some of its smaller shops. Wal-Mart has made fresh produce a key piece of its turnaround
plan, as it drives more frequent visits from shoppers. While Vasos acknowledged there’s stiff competition in fresh food, he
said the company’s massive fleet and small shops give it a competitive advantage.
Going Smaller
Dollar stores are already a fraction the size of a Wal-Mart Supercenter. But as Dollar General peppers the U.S. with
new shops, it’s making those locations smaller. The company plans to open an additional 160 small shops this year. At
6,000-square feet, these locations cater to central metropolitan and rural areas. That will bring the total number of these
shops to 250. Meanwhile, Dollar General is testing an even smaller 3,600-square-foot store that serves millennials living in
urban areas. The expansion of these stores comes as Wal-Mart grows its Neighborhood Market footprint.
Making a Bigger Bet on Digital
Dollar General lags much of the retail industry when it comes to digital commerce, but the chain is putting a bigger em-
phasis on technology. Though Vasos was mum on specifics, the decision comes as more low-income consumers purchase
mobile devices, the CEO said. Becoming more digitally savvy should also help Dollar General attract millennial shoppers,
whom Vasos says are playing a bigger role in its sales. Wal-Mart has also been rolling out upgrades to its website and
mobile technologies, including the ability for shoppers to pay directly from its app.

financial overview

financial overview
7
annualized operating data
Lease Years Annual Rent Monthly Rent Increases
Years 1-15 $90,232 $7,519 N/A
Years 16-20 (Option 1) $99,256 $8,271 10%
Years 21-25 (Option 2) $109,181 $9,098 10%
Years 26-30 (Option 3) $120,099 $10,008 10%
Years 31-35 (Option 4) $132,109 $11,009 10%
Years 36-40 (Option 5) $145,320 $12,110 10%
Net Operating Income $90,232
offering summary
Property Name Dollar General
Property Address NWC Highway 210 and Highway 421
Currie, NC 28435
Price $1,398,950
Price/SF $153.73
Cap Rate 6.45%
Rentable Square Feet 9,100 Square Feet
Year Built June 2017
Lot Size 2.07 Acres
tenant overview
Tenant Trade Name Dollar General
Ownership Public
Tenant Corporate Store
Lease Guarantor Corporate Guarantee
Lease Type Absolute Net
Roof and Structure Tenant Responsible
Lease Term 15 Years
Lease Commencement Date 6/30/2017
Rent Commencement Date 8/29/2017
Lease Expiration Date 6/30/2032
Term Remaining on Lease 15 Years
Increases 10% (Each Option)
Options Five, Five-Year Options
vita data
Net Operating Income - Current $90,232
Ownership Fee Simple (Land & Improvements)
Proposed Financing New First Trust Deed
financing options
Multiple financing options are available based on buyer requirements. Please contact listing agents to
discuss options in detail.
3-Year Fixed 3.70%
5-Year Fixed 4.0%
7-Year Fixed 4.25%
10-Year Fixed 4.6%

4
parcel overview
location
NWC Highway 210 and Highway 421
Currie, NC 28435
site
The subject property has frontage Highway 210 and Highway 421.
square footage
The building square footage is 9,100-square feet and the lot size is
+/- 2.07 acres.
year built
The property will be delivered by June 2017.
9

10
Johnson’s Corner
GROCERY & GRILL
The Nearest Soft Goods Retailers/ Grocery Stores:
Walmart - 12 Miles Away
Family Dollar - 11 Miles Away
Dollar Tree - 12 Miles Away
22,449
RESIDENTS
$53,767
AVG HOUSEHOLD
INCOME
5 YEARPOPULATION GROWTH
8%
demographics within a 10-mile radius:
Intersection of Highway 210 and
Highway 421
10,800 CPD

area overview
Fayetteville, Arkansas
2 Hour, 30 Minute Drive
Harrison, Arkansas
1 Hour Drive
Springfield, Missouri
2 Hour Drive
Currie, NC
Currie is an unincorporated community in Pender County, North Carolina. Pender County, one of the fastest growing
counties in North Carolina, has a population of more than 52,000 residents. The county is positioned for growth and
development with strategic priorities related to economic development, expansion of public infrastructure, growth
management, quality of life and education.
Pender County is home to beautiful beaches along the Atlantic Ocean and miles of Intracoastal Waterway. The county
is often called the Land of History, the home of a national Revolutionary battlefield of Civil War struggles, and the New
Deal settlement called Penderlea. The county is home to family farms, small businesses, corporations, and a growing
retail market.
12
Distance To From Property

comparables

14
comparables
Close of Escrow 12/2016
Sales Price $1,670,000
Cap Rate 6.50%
Gross Leasable Area 9,100
Year Built 2016
Years Left on Lease 15 Years Remaining
Asking Price 1,398,950
Price/SF $153.73
Cap Rate 6.45%
Gross Leasable Area 9,100 SF
Year Built 2017
Subject Property: Dollar General Dollar General of Leland
3660 Old Maco Road NE, Leland, NC 2046 Salisbury Highway, Statesville, NC
Dollar General of Statesville
NWC Corner of Highway 210 and Highway 421
Currie, NC
Cap Rate 6.50%
Year Built 2016
Years Left on Lease 15 Years Remaining
1 2
Average Cap Rate 6.50%
Comparables

15
comparables
Dollar General of Taylorsville
6059 NC 16 Highway, Taylorsville, NC 9817 NC Highway 210, Four Oaks, NC
Dollar General of Four Oaks
2046 Salisbury Highway, Statesville, NC
Dollar General of Statesville
Cap Rate 6.50%
Year Built 2016
Years Remaining on Lease 15 Years Remaining
On Market
List Price $1,548,810
Cap Rate 6.45%
Year Built 2016
On Market
Cap Rate 6.40%
Year Built 2017
3 4 5

Dollar General of Albemarle
24132 Highway 73, Albemarle, NC 4276 Wilkesboro Highway, Statesville, NC
Dollar General of Stateville
123 Ridge Street, Ronda, NC
Dollar General of Ronda
On Market
Cap Rate 6.55%
Year Built 2016
On Market
Cap Rate 6.55%
Year Built 2016
On Market
Cap Rate 6.55%
Year Built 2017
6 7 8
comparables
16

23
demographics
18
3 Miles 5 Miles 10 Miles
2016 Population 1,846 4,010 22,449
2016 Households 712 1,580 8,141
2016 Average Household Size 2.58 2.60 2.61
2016 Daytime Population 238 540 3,835
2016 Owner Occupied Housing Units 79.94% 79.75% 75.17%
2016 Renter Occupied Housing Units 20.06% 20.25% 24.83%
2016 Average Household Income $53,819 $53,980 $53,767
2016 Median Household Income $43,293 $43,713 $44,017
Subject Property

Dollar General in Currie, North Carolina

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