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Views: 73 Updated: 09.30.24 Posted: 07.15.24 Status: Inactive

Summary

Price $2,249,639
Built/Renov 2024
Tenant Dollar General
Cap Rate 6.10%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 07-17-2024
#Units 19,986
Price/SF $212.91
Expiration 07-16-2039
Tenant Type Dollar/Discount
NOI $137,228
R. Term 14.8
Ownership Fee Simple
Rent/SF $12.99
Increases 5.0%/5/yrs
Pop 5Mi 207,082
Lot/AC 1.50
Options 4/5yrs/5%
AHHI 5Mi $77,064

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 4 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located at the signalized, hard corner intersection of New Court Avenue and North Avenue. The property benefits from its prime location within a hub of industrial properties and key employers including Cavallaro Foods, Salina Industrial Powerpark, Busch Products, Interstate Batteries of Central New York, among others. Additionally, it enjoys close proximity to...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corporation
  • # Units:19,986
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning supplies,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,930 94,410 203,860
2024 Total Population : 9,136 95,612 206,967
2024 Employed Civilian Pop : 4,446 43,525 94,671
2024 Total Businesses : 574 5,216 10,151
2024 Average Household Income : $ 63,615 $ 69,825 $ 77,032
2024 Total Consumer Spending : $ 257 M $ 2556 M $ 5966 M
2024 Median Age : 39 34 35
2024 Total Households : 4,529 41,083 87,035
2024 Pop Age 25+: Bachelor's Degree : 1,114 10,411 24,421
2024 Average Home Value : $ 182,021 $ 211,523 $ 226,410
*ESRI data is presented for informational purposes only

Listing Broker

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