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Views: 142 DOM: 376 Updated: 09.24.24 Posted: 11.11.23 Status: Active

Summary

Price $1,838,884
Built/Renov 2020
Tenant Dollar General
Cap Rate 5.97%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,166
Lease Start 09-01-2020
#Units 19,986
Price/SF $200.62
Expiration 08-31-2035
Tenant Type Dollar/Discount
NOI $109,838
R. Term 10.9
Ownership Fee Simple
Rent/SF $11.98
Increases 10.0%/12/yrs
Pop 5Mi 3,178
Lot/AC 1.69
Options 4/5yrs/10%
AHHI 5Mi $114,639

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, located along NY Route 43, serves as the only dollar store catering to the local community, benefiting from the advantage of limited competition. The 5-mile trade area is supported by a population of 3,178 residents, with an affluent average household income of $114,639. Stephentown is a town located in Rensselaer County in the eastern part of New York. It is situated within...

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Maps

  • 1 Mile
  • 3 Miles
  • 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 : 431 1,637 3,147
2023 Total Population : 434 1,656 3,190
2023 Employed Civilian Pop : 201 820 1,613
2023 Total Businesses : 31 70 113
2023 Average Household Income : $ 118,466 $ 116,232 $ 114,657
2023 Total Consumer Spending : $ 21 M $ 77 M $ 142 M
2023 Median Age : 48 48 48
2023 Total Households : 211 772 1,443
2023 Pop Age 25+: Bachelor's Degree : 96 326 579
2023 Average Home Value : $ 272,546 $ 283,074 $ 303,789
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NY 22 Hwy 43 2018 3,010 0.05 mi
State Hwy 43 Madden Rd 2000 2,700 0.34 mi
State Hwy 22 Provost Rd 2006 4,520 0.37 mi
Madden Rd 2021 873 0.50 mi
Grange Hall Rd 2021 416 0.66 mi
Cemetery Hill Rd 2021 45 0.71 mi
State Highway 43 Barbara Way 2021 1,947 0.73 mi
CR 33 2021 140 1.01 mi
State Hwy 43 Pease Rd43 2006 2,600 1.43 mi
Hancock Road 2019 2,649 1.45 mi

Listing Broker

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