Dollar General 95 S Main St 9,191 SF Retail Building Avoca, NY 14809 $1,349,025 ($146.78/SF) 8.10% Cap Rate
INVESTMENT HIGHLIGHTS
- 15 Year Absolute NNN Lease
- 4 (5 Year) Options | 10% Increases At Each Option
- 3,932 Vehicles Per Day
- Zero Landlord Responsibilities
- 10 Mile Population 17,436
- Investment Grade Dollar Store With "BBB" Credit Rating
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present this 9,191 SF Dollar General store located in Avoca, NY. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease has 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since January 2017. This Dollar General is highly visible as it is strategically positioned along S Main Street which sees 3,932 vehicles per day. The ten mile population from the site is 17,436 while the ten mile average household income is $59,834 per year, making this location ideal for a Dollar General. The subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to obtain fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Convenience Store
Building Size
9,191 SF
Year Built
2016
Price
$1,349,025
Price Per SF
$146.78
Cap Rate
8.10%
NOI
$109,271
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.03 AC
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Dollar General
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Dollar General | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 462201 113.12-01-050.113 | Improvements Assessment | $764,000 |
| Land Assessment | $37,500 | Total Assessment | $801,500 |
