This property is a Dollar General store located in Overgaard, Arizona. It has a corporate guaranteed lease with Dollar General through July 2020 with two five-year extension options remaining. The property benefits from having no nearby competition within 30 miles. It is an opportunity for a stable investment with a strong tenant and minimal landlord responsibilities.

1. PLAY VIDEO
ACTUAL BUILDING
2281 AZ-260, Overgaard, Arizona 85933
DOLLAR GENERAL WITH CORPORATE GUARANTEE LEASE |
VERY STRONG REPORTED SALES

2. 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&Millichaphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasMarcus&Millichapconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyor
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

3. PRESENTED BY
LEAD BROKER
Kyle Blatt
Associate
ONTARIO OFFICE
Tel: (909) 456-3475
kyle.blatt@marcusmillichap.com
CA License: 02017976
Kevin Boeve
Senior Vice President Investments
ONTARIO OFFICE
Tel: (909) 456-3450
kevin.boeve@marcusmillichap.com
CA License: 01247016
Cliff Denton
Broker of Record
PHOENIX OFFICE
Tel: (602) 687-6700
AZ License: BR024565000

4. 1FINANCIAL OVERVIEW
REPRESENTATIVE PHOTO

5. financial overview
annualized operating data
Rent Increases Annual Rent Monthly Rent
8/1/15 - 7/31/17 $67,605 $5,634
8/1/17 - 7/31/20 (Current Rent) $69,405 $5,784
Option 1 (5 Years) $81,780 $6,815
Option 2 (5 Years) $89,964 $7,497
Option 3 (5 Years) $98,964 $8,247
Tenant Reimbursement $909
Base Rent ($0.79/SF) $69,405
Net Operating Income $69,405
pricing
Property Name Dollar General
Property Address 2281 AZ-260
Overgaard, AZ 85933
Price $845,062
Cap Rate 8.21%
Gross Leasable Area 9,014 SF
Year Built 2005
Lot Size 1 Acres
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. © 2017 Marcus & Millichap ACT ID Y0080538 2
tenant overview
Tenant Trade Name Dollar General
Ownership Public
Tenant Corporate Store
Lease Guarantor Corporate Guarantee
Lease Type Modified Net Lease
Roof and Structure Landlord Responsible
Lease Term 5 Years
Lease Commencement Date 8/1/2005
Rent Commencement Date 8/1/2005
Lease Expiration Date 7/31/2020
Term Remaining on Lease 3 Years
Increases 10% Increase For Each Option
Options Three, Five-Year Options
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%

6. 2EXECUTIVE SUMMARY
ACTUAL BUILDING

7. 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. © 2017 Marcus & Millichap ACT ID Y0080538 4
Marcus & Millichap is pleased to exclusively market for sale a Dollar General in Overgaard, Arizona. The
Dollar General has been a staple in the town since 2005 and is showing commitment to the location
through a recent extension to the lease, which expires July 31, 2020. It is the only Dollar General in town
and the next Dollar General is 29 miles away.
With no nearby competition within 30 miles, this is a unique opportunity to acquire an investment with
high return and strong corporate guarantee. 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.
Situated 144 miles north of Phoenix, Arizona, Heber-Overgaard is a census-designated place in Navajo
County, Arizona. Tourism, retirement, and timbering are the foundations of Heber-Overgaard’s economy.
·· Virtually Zero Nearby Competition Nearby | Nearest Competitor is 30 Miles Away
·· Location Has Been in Successful Operation For 12 Years
·· Modified Net Leased Investment Opportunity With Minimal Landlord Responsibilities | Two, Five-Year
Options With 10 Percent Rent Increases Remaining
·· Excellent Street Visibility | Dollar General Site is Located on Arizona State Route 260, Major East-
West State Highway in Arizona
·· Dollar General is the 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 Invest-
ment Grade Credit
·· Dollar General Has $17.5 Billion in Sales Volume and is Ranked #128 in Fortune 500
·· Perfect Investment For First Time Investor | Seasoned Investor Adding to a Portfolio | Local or Re-
gional Investor or 1031 Investor From Out of The Area
investment highlights
investment overview
5 MILES 10 MILES 15 MILES
2016 Population 3,735 4,037 4,642
2016 Households 1,679 1,837 2,207
2016 Average Household Size 2.17 2.21 2.26
2016 Owner Occupied Housing Units 84.10% 83.82% 83.50%
2016 Renter Occupied Housing Units 4.93% 5.05% 5.16%
2016 Average Household Income $49,255 $48,995 $48,951
ACTUAL BUILDING

8. 5
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. © 2017 Marcus & Millichap ACT ID Y0080538
dollar general
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
Company Type:
PUBLIC (NYSE: DG)
Fiscal 2016 Sales
$22 BILLION
S&P 500 Credit Rating
“BBB”
2017 Fortune 500
#128
Number of Stores
13,000+
The Three Largest Discount Store Chains, Ranked by 201 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+

9. dollar general in the news
Dollar General is Starting to Look a Lot Like Walmart
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 Walmart’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 Walmart. Shortly after Walmart
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 Walmart last year after it shuttered the express format. Dollar General
will now expand that pilot to some of its smaller shops. Walmart 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 Walmart Supercenter. But as Dollar General peppers the United States
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 Walmart 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. Walmart has also been rolling out upgrades to its website and mo-
bile technologies, including the ability for shoppers to pay directly from its app.
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. © 2017 Marcus & Millichap ACT ID Y0080538 6

10. 3PROPERTY DESCRIPTION
ACTUAL BUILDING

11. terrace eateries
location
2281 AZ-260
Overgaard, Arizona 85933
site
The subject property has frontage along Trevor Way and Ari-
zona State Route 260.
square footage
The building square footage is-square feet and the lot size is
two acres.
year built
The property was built in 2005.
traffic counts
Arizona State Route 260 has traffic counts of over 7,000 cars
per day.
Arizona State Route 260
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. © 2017 Marcus & Millichap ACT ID Y0080538 8
parcel overview

12. 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. © 2017 Marcus & Millichap ACT ID Y0080538 10
site plan

13. 11
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. © 2017 Marcus & Millichap ACT ID Y0080538
BIG PINE RESORT
VACATION RENTALS OF LOG CABINS
Trevor W
ay
MOGOLLON
Arizona State Route 260 - 7,058 Cars Per Day
PINE MEADOWS
COUNTRY CLUB
Within Five-Mile Radius
3,873 Residents
1,744 Households
$44,059 - Average Household Income

14. terrace eateries
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. © 2017 Marcus & Millichap ACT ID Y0080538 12
Arizona State Route 260 - 7,058 Cars Per Day
BIG PINE RESORT
VACATION RENTALS OF LOG CABINS
MOGOLLON
PINE MEADOWS
COUNTRY CLUB
Nearest Competitors to Dollar General Location:
Walmart - 33 Miles Away
Dollar General - 29 Miles Away
Dollar Tree - 35 Miles Away
3-Star Hotel With
18 Rooms
55+ Community With
60 Units

15. PRESENTED BY
LEAD BROKER
Kyle Blatt
Associate
ONTARIO OFFICE
Tel: (909) 456-3475
kyle.blatt@marcusmillichap.com
CA License: 02017976
Kevin Boeve
Senior Vice President Investments
ONTARIO OFFICE
Tel: (909) 456-3450
kevin.boeve@marcusmillichap.com
CA License: 01247016
Cliff Denton
Broker of Record
PHOENIX OFFICE
Tel: (602) 687-6700
AZ License: BR024565000
ACTUAL BUILDING