Dollar General | 925 US Highway 9
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Dollar General 925 US Highway 9
9,184 SF Retail Building Schroon Lake, NY 12870 £818,999 (£89/SF) 8% Net Initial Yield
Investment Highlights
- Double Net (NN) Lease
- 2 (5 Year) Options | 10% Increases At Each Option
- 10 Mile Average Household Income $79,299
- EARLY LEASE EXTENSION WITH NO RENT REDUCTION
- Tenant Previously Exercised a Renewal Option And Subsequently Added Additional Years to The Term (They love this location)
- Investment Grade Dollar Store With "BBB" Credit Rating
Executive Summary
Fortis Net Lease is pleased to present this 9,184 SF Dollar General store located in Schroon Lake, NY. The property is secured with a Double Net (NN) Lease. The lease has remaining 2 (5 year) options to renew, with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since October 2007. This Dollar General is highly visible as it is strategically positioned along State Rte 9 which sees 2,720 vehicles per day. The ten mile population from the site is 3,956 while the ten mile average household income $79,299 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,184 SF
Building Class
C
Year Built
2007
Price
£818,999
Price Per SF
£89
Net Initial Yield
8%
NOI
£65,520
Tenancy
Single
Number of Floors
1
Building FAR
0.12
Lot Size
1.82 AC
Zoning
07
Parking
31 Spaces (3.38 Spaces per 1,000 SF Leased)
Frontage
368 ft on US Route 9
PROPERTY TAXES
| Parcel Number | 154600-147-013-0003-018-100-0000 | Improvements Assessment | £480,241 |
| Land Assessment | £29,765 | Total Assessment | £510,007 |
PROPERTY TAXES
Parcel Number
154600-147-013-0003-018-100-0000
Land Assessment
£29,765
Improvements Assessment
£480,241
Total Assessment
£510,007
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Dollar General | 925 US Highway 9
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