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Views: 93 Updated: 01.16.24 Posted: 08.21.23 Status: Inactive

Summary

Price $1,622,234
Built/Renov 2019
Tenant Dollar General
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,400
Lease Start 02-01-2019
#Units 19,294
Price/SF $172.58
Expiration 02-28-2034
Tenant Type Dollar/Discount
NOI $103,823
R. Term 9.5
Ownership Fee Simple
Rent/SF $11.05
Increases 10.0%/11/yrs
Pop 5Mi 6,638
Lot/AC 3.31
Options 4/5yrs/10%
AHHI 5Mi $103,980

Lease Highlights

  • Dollar General has over 11 years remaining on its current lease term with 4 (5-year) options to renew
  • 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 (S&P: BBB)

Location Description

Doller General is conveniently located along Highway NY-29 in Galway, NY. The subject property benefits from limited competition, as it serves as the primary source of goods for the local population. The nearest Dollar General store is located over 19 miles away. The 5-mile trade area is supported by 6,638 residents earning an average household income of $103,980. Galway is a town situated in...

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Maps

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  • 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 : 190 2,639 6,440
2023 Total Population : 192 2,658 6,459
2023 Employed Civilian Pop : 81 1,258 3,112
2023 Total Businesses : 7 74 135
2023 Average Household Income : $ 108,515 $ 109,096 $ 105,890
2023 Total Consumer Spending : $ 8 M $ 104 M $ 240 M
2023 Median Age : 51 49 48
2023 Total Households : 94 1,121 2,657
2023 Pop Age 25+: Bachelor's Degree : 41 564 1,133
2023 Average Home Value : $ 421,111 $ 375,682 $ 342,371
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 29 Greens Corner Rd 2006 8,260 0.18 mi
Sacandaga Road Hwy 29 2018 4,983 0.45 mi
Sacandaga Road Parkis Mills Rd 2021 5,262 1.34 mi
State Highway 29 Fish and Game Private Rd 2021 8,822 1.45 mi
Barkersville Road Fayville Rd 2021 846 1.79 mi
CR 14 Faber Rd 2021 734 1.89 mi
Hinds Rd 2021 1,003 2.07 mi
Alexander Rd 2021 187 2.22 mi
CR 45 Perth Rd 2021 2,128 2.57 mi
Fish House Road Hwy 29 2021 1,898 2.75 mi

Listing Broker

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