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Dollar General, Dexter, NY

Dollar General

NY, USA

Price $1,950,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases in Option Periods
Year Built 2021
Building Size 9,100 SF
Lot Size 1.6 Acres (69,696 SF)
Status Sold
Lead Broker Information Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE TO DOLLAR GENERAL
» New 15-year absolute NNN lease to Dollar General (NYSE: “DG”)
» 10% rental increases in option periods, providing a hedge against inflation
» Four (4) five (5) year option periods
» No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $31.9 billion
» Dollar General is ranked #91 on Fortune 500 list (12 consecutive years of Fortune 500 ranking growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 17,000 locations in 46 states and has plans for significant future growth

STRATEGIC LOCATION NEAR CANADIAN BORDER
» Prominent location at the hard corner intersection of State Route 180 and State Route 12F
» Population of 82,781 within a 15-mile radius of the location, providing a consistent customer base for the site
» 35 miles from United States/Canadian border, providing access to a large international customer base
» Near Black River Bay, flowing into Lake Ontario, one of the five Great Lakes of North America
» Three minutes from Watertown International Airport (23,000 annual boarded flights)
» Projected average annual household income increase of 10 percent within five miles of the site in the next five years

NEW 2021 UPGRADED CONSTRUCTION
» High-quality, upgraded construction completed in 2021
» Upgraded with three (3) side planks, wainscots, and shutters
» Ample and easily accessible parking on site
» Large 1.6-acre parcel


Property Description

SOLD

The property is located at the hard corner intersection of State Route 180 and State Route 12F, two of Dexter’s main thoroughfares. The site benefits from its location on a large, 1.6-acre parcel with ample and easily accessible parking on site. The United States and Canadian border is located just 35 miles north of the site, providing access to a large international customer base. The property is three minutes from Watertown International Airport (23,000 annual boarded flights) and immediately situated near Black River Bay, which flows into Lake Ontario (one of the five Great Lakes of North America). There are 82,781 residents living within a fifteen-mile radius, providing a consistent customer base for the site. This Dollar General is poised to grow alongside Dexter, with a projected average annual household income increase of 10 percent within five miles of the site in the next five years.

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