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Views: 114 DOM: 376 Updated: 09.24.24 Posted: 11.11.23 Status: Active

Summary

Price $1,852,781
Built/Renov 2020
Tenant Dollar General
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,250
Lease Start 10-15-2020
#Units 19,986
Price/SF $200.30
Expiration 10-31-2035
Tenant Type Dollar/Discount
NOI $111,167
R. Term 10.11
Ownership Fee Simple
Rent/SF $12.02
Increases 10.0%/12/yrs
Pop 5Mi 1,577
Lot/AC 2.15
Options 4/5yrs/10%
AHHI 5Mi $80,851

Lease Highlights

  • Dollar General has 11+ years remaining on its primary lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is conveniently located along NY-29A, at the junction of NY State Route 10 in the southern part of the Adirondack mountains and to the northeast of Albany. The property benefits from extremely limited competition in the area, in both the grocery and dollar discounts markets. 1,577 people, earning an average household income of $59,085 occupy the surrounding 5-mile radius,...

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Maps

  • 1 Mile
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  • 5 Miles

Tenant

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 449 959 1,589
2023 Total Population : 464 991 1,639
2023 Employed Civilian Pop : 189 400 689
2023 Total Businesses : 16 33 59
2023 Average Household Income : $ 80,243 $ 80,271 $ 81,090
2023 Total Consumer Spending : $ 13 M $ 33 M $ 53 M
2023 Median Age : 51 51 51
2023 Total Households : 188 468 738
2023 Pop Age 25+: Bachelor's Degree : 27 61 113
2023 Average Home Value : $ 230,702 $ 233,372 $ 228,074
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Highway 10 Outlet Rd 2021 574 0.65 mi
State Rte 10 2021 101 1.08 mi
CR 111 London Bridge Rd 2021 196 1.26 mi
State Highway 10 Pinnacle Rd 2018 1,671 1.69 mi
State Highway 29A Sgt Witzke Dr 2018 3,108 1.82 mi
State Highway 10 Vrooman Rd 2021 1,309 2.31 mi
CR 137 Everson Rd 2021 252 2.61 mi
State Highway 10 Washington St 2021 752 2.85 mi
Beech Ridge Rd 2021 30 2.88 mi

Listing Broker

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