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Views: 126 Updated: 01.16.24 Posted: 08.21.23 Status: Inactive

Summary

Price $1,851,550
Built/Renov 2019
Tenant Dollar General
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,281
Lease Start 11-01-2019
#Units 19,294
Price/SF $199.50
Expiration 11-21-2034
Tenant Type Dollar/Discount
NOI $111,093
R. Term 10.0
Ownership Fee Simple
Rent/SF $11.97
Increases 10.0%/11/yrs
Pop 5Mi 50,002
Lot/AC 1.69
Options 4/5yrs/10%
AHHI 5Mi $75,325

Lease Highlights

  • Dollar General has 11 years remaining on its current lease term with 4 (5-year) options to extend
  • Lease features an increase of 10% in each of the option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)
  • Dollar General is an investment grade tenant (BBB)

Location Description

Dollar General is strategically located along Broadway, a major thoroughfare, in Fort Edward, NY. This location benefits from limited competition as this store serves as the main source of goods for the immediate population. Other retailers serving the trade area are Pizza Hut, Dunkin’ Donuts, Subway, and Market32 by Price Chopper. Additionally, the property is near Fort Edward Jr. High School...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,788 21,772 49,613
2023 Total Population : 4,919 22,143 49,953
2023 Employed Civilian Pop : 2,374 12,105 27,570
2023 Total Businesses : 154 680 2,121
2023 Average Household Income : $ 63,049 $ 70,792 $ 83,711
2023 Total Consumer Spending : $ 110 M $ 586 M $ 1596 M
2023 Median Age : 41 42 42
2023 Total Households : 1,993 9,530 22,002
2023 Pop Age 25+: Bachelor's Degree : 465 2,281 6,094
2023 Average Home Value : $ 164,292 $ 208,839 $ 228,072
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Broadway St 2021 76 0.09 mi
Broadway Cortland St 2021 13,716 0.28 mi
McIntyre St 2021 59 0.31 mi
Maple Avenue 37 2018 2,674 0.35 mi
Park Avenue Sullivan Pkwy 2021 533 0.39 mi
Beverly St 2021 1,024 0.39 mi
Broadway St 2021 188 0.40 mi
Juliet St 2021 71 0.42 mi
McCrea St 2021 48 0.57 mi
McKie St 2021 2,237 0.63 mi

Listing Broker

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