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Views: 113 DOM: 574 Updated: 09.10.24 Posted: 02.20.23 Status: Active

Summary

Price $1,897,000
Built/Renov 1930
Tenant Family Dollar
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,857
Lease Start 03-18-1992
#Units 8,359
Price/SF $241.44
Expiration 12-31-2031
Tenant Type Dollar/Discount
NOI $113,800
R. Term 7.3
Ownership Fee Simple
Rent/SF $14.48
Increases 10.0%/4/yrs
Pop 5Mi 169,447
Lot/AC 0.35
Options 4/5yrs/10%
AHHI 5Mi $72,056

Lease Highlights

  • Family Dollar has been operating in this location since 1992
  • Tenant has 7+ years remaining in its current term + recently signed extension
  • Lease features a 10% rent increase in Jan 2027 and at the beginning of remaining options
  • High store sales performance - low rent to sales ratio
  • Corporate guarantee by Dollar Tree, Inc (NASDAQ: DLTR)
  • Family Dollar is an investment grade tenant (S&P: BBB)

Location Description

The property is strategically located along Central Avenue (NY State Road 5) with clear visibility, on site parking and access to over 23,000 vehicles passing by daily. Major national tenants such as The Home Depot, McDonald's, Taco Bell, Burger King, AutoZone, Popeyes, and many more increase consumer draw to the overall trade area. The site is within close proximity to several residential...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 30,865 125,501 193,608
2023 Total Population : 31,026 124,733 193,400
2023 Employed Civilian Pop : 15,286 63,737 100,641
2023 Total Businesses : 902 5,477 9,468
2023 Average Household Income : $ 66,624 $ 85,292 $ 97,953
2023 Total Consumer Spending : $ 784 M $ 3995 M $ 7045 M
2023 Median Age : 30 35 38
2023 Total Households : 13,363 53,841 83,247
2023 Pop Age 25+: Bachelor's Degree : 3,725 19,873 32,912
2023 Average Home Value : $ 253,656 $ 276,711 $ 309,040
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Kent St 2021 1,912 0.09 mi
Manning Square Manning Blvd N 2021 2,943 0.20 mi
N Main Ave Kent St 2000 4,600 0.22 mi
Manning Blvd N 2nd St 2019 4,555 0.27 mi
North Main Avenue Chestnut St 2021 5,827 0.29 mi
Central Ave Rawson St 2006 24,620 0.32 mi
Ontario Street State St 2021 2,721 0.33 mi
Manning Boulevard W Lawrence St 2021 2,334 0.35 mi
North Manning Boulevard Commerce Ave 2021 4,185 0.38 mi
Manning Boulevard Extension Livingston Ave 2018 4,318 0.40 mi

Listing Broker

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