Listed by Marcus & Millichap - Manhattan
$2,230,754
DG Market - Long Lease - No Competition
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 12,668
Cap Rate 6.5%
NOI $144,999
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 01/29/2039
Remaining Term 12.5
Rent Bumps Yes
Lease Options 3, 5-Year
Year Built 2023
Acreage 1.670
Parking Spaces 44 spaces
Parking per 1,000 SqFt 3.47
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 01/30/2024
Ground Lease No
Available Individually or as a Portfolio
Investment highlights
- Absolute Net (NNN) DG Market with Zero Landlord Responsibilities And A Strategic Location Along South Stevens Street, Where More Than 1,900 Vehicles Pass Daily, Providing Consistent Visibility And Accessibility For Customers
- Backed By Approximately 12.5 Years Remaining On The Base Lease Term, The Property Benefits From 10% Rent Increases In Each Option Period, Delivering Long Term Income Security And A Strong Hedge Against Inflation
- Benefiting From A Highly Desirable Competitive Position, The Subject Property Is The Only DG Market Or Dollar General Within A 10-Mile Radius, Creating A Captive Customer Base And Supporting Long Term Tenant Stability
- Positioned Less Than One Mile From Two Prominent Schools, Oswayo Valley School District And Oswayo Elementary School, With More Than 400 Students Enrolled Helping Support Recurring Traffic
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$144,999.00
$12,083.25/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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