6286 Rt-23 - Freestanding FOR SALE


South New Berlin, NY 13843
$1,383,000 USD
202-286-1542
6286 Rt-23, South New Berlin, NY for Sale
$1,383,000 USD
Freestanding - FOR SALE
1/5
null | 7% Cap Rate

6286 Rt-23
South New Berlin, NY 13843


OVERVIEW

• The tenant has 11 years of firm term remaining with an additional 3 (5-year) option periods to extend • The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation • The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 location as of August 2024 • Tenant pays for CAM, insurance, and maintains all aspects of the premises • Landlord is responsible for paying taxes directly; however, gets reimbursed by the tenant • Ideal, management-free investment for a passive investor • Strategically located along State Highway 23 (4,800 VPD), one of the main roadways in the trade area and leading to Norwich • The site is the only discount store within South New Berlin, creating a large consumer draw for the immediate trade area • The closest discount store is 8 miles from the site • The asset, which was built in 2021, features a state-of-the-art design using high quality materials • The asset benefits from excellent visibility via significant street frontage and a large monument sign • More than 2,860 residents and 436 daytime employees support the 5-mile trade area • Residents within 3-, 5-, and 10-miles of the subject boast a healthy average household income of $88,089, $94,401 and $84,154 respectively

FOR SALE DETAILS

PRICE

$1,383,000 USD

PRICE/SF

$153 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - South New Berlin, NY

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

1.98 AC

LAND SF

86,249 SF

ZONING

C

APN/PARCEL ID

083889 139.-1-36.3

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.