Listed by ParaSell Inc, Legacy Commercial Real Estate, Legacy Real Estate
$3,950,000
Dollar General
Details
Property Type Retail
Sub Type Storefront, Dollar Store
Square Footage 14,820
Cap Rate 9.22%
NOI $364,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type NNN
Lease Term 7
Lease Options (50) 1 Year Options
Price per SqFt $267
Broker Co-Op Yes
Class B
Year Built 2007
Acreage 1.400
Investment Type Net Lease
Tenant Credit Credit Rated
Ownership Fee Simple
Dollar General | 2025 Sales of +2.35 Million | 9.22% CAP | 14,820 Sq Ft
Marketing description
General Property Information
- Walgreens Sublease with Dollar General
- Rent Per SF = $24.56 NNN
- Elmira, NY Metro Population = 81,325 (https://censusreporter.org/profiles/31000US21300-elmira-ny-metro-area/)
- +/-1.3 Miles from Elmira Central Business District
- Located on a signalized hard corner at the intersections of S Main St and Pennsylvania Ave
- S Main (VPD) = 7,911
- Pennsylvania Ave (VPD) = 8,173
- DG has occupied the property for +/-3 years
- Property is in top 15% of DG’s Nationwide (#2,864 out of +19,380 Locations) ‘Per Placer.AI’
- Property is in top 24% of DG’s within a 15 Mile-Radius (#5 out of 17 Locations) ‘Per Placer.AI’
- 2025 Sales of +2.35 Million (Reach out for documentation affirming this)
General Metro Information
- Elmira was awarded $10 Million by NY state for the DRI (Downtown Revitalization Initiative), using funds to attract new businesses and residents
- +/-226 additional Affordable Housing Units have been developed in Elmira since 2015
- Home of Elmira College (Student population of +/-650 and total employees of +/-280) (https://www.elmira.edu/)
- Home of Arnot Health (Annual revenues of 400-600 Million and approximately 3,500 Employees) (https://www.arnothealth.org/)
Distance to Major Metros
- Ithaca, NY = 34.5 Miles
- Binghamton, NY = 57.3 Miles
- Syracuse, NY = 89.4 Miles
Investment highlights
- Single Tenant Freestanding Dollar General in Elmira, NY
- Long Term Absolute NNN Lease - 10+ Years Remaining with Zero (0) Landlord Responsibilities
- Dense Demographics - 5,500+ People Reside within 1 Mile Radius of Site - 15,200+ People Reside within 3 Mile Radius of Site
- High Traffic Counts - 8,100+ Vehicles Pass Site Per Day on Pennsylvania Ave. - 7,200+ Vehicles Pass Site Per Day on S Main St.
- Located in a Dense Retail Corridor Surrounded by Several National Tenants Including USPS, Family Dollar, and many more
- Dollar General Holds an Investment Grade Credit Rating of BBB With S&P and a Positive/Stable Outlook
- Dollar General's Store Count Increases Year Over Year Further Strengthening the Corporate Guarantee
- Essential Retailer - Internet, Pandemic, and Recession Resistant Tenant
Listing Contacts
Listed by ParaSell Inc, Legacy Commercial Real Estate, Legacy Real Estate
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$364,000.00
$30,333.33/mo
Valuation Metrics
0
DSCR
9.22%
Cap Rate
9.22%
ROI
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