Net Leased Dollar General Investment Property
Dollar General Investment Property Olean, NY | 7.00% CAP | 11,440 SF
Marketing description
Donovan Real Estate Services is pleased to offer the opportunity to acquire the Dollar General-leased investment property located in Olean, NY.
The tenant recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period. This grows NOI and hedges against inflation.
Investment highlights
• 10-year initial term
• Over $1,000,000 in building improvements and renovations—roof, HVAC, interior
• $1,900,000 in annual sales
• Two 5-year options with 10% bumps to hedge against inflation and help grow NOI
• Tenant pays utilities, taxes, common area maintenance, and insurance.
• Tenant is responsible for interior, non-structural elements, janitorial, snow, and ice removal.
• Tenant maintains parking and HVAC; Landlord may share replacement cost of HVAC based on amoritzation, and Landlord covers capital repairs to parking or those reimbured by insurance
• Landlord is responsible for roof, structure, foundations, exterior walls, and underground systems.
• Corporate guaranty on lease
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