925 US Highway 9 - Freestanding FOR SALE


Schroon Lake, NY 12870
$1,045,575 USD
248-254-3406
925 US Highway 9, Schroon Lake, NY for Sale
$1,045,575 USD
Freestanding - FOR SALE
1/5
null | 8% Cap Rate

925 US Highway 9
Schroon Lake, NY 12870


HIGHLIGHTS

  • Double Net (NN) Lease
  • EARLY LEASE EXTENSION WITH NO RENT REDUCTION
  • 2 (5 Year) Options | 10% Increases At Each Option
  • Tenant Previously Exercised a Renewal Option And Subsequently Added Additional Years to The Term (They love this location)
  • 10 Mile Average Household Income $79,299 
  • Investment Grade Dollar Store With "BBB" Credit Rating

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,045,575 USD

PRICE/SF

$114 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

1.82 AC

LAND SF

79,279 SF

ZONING

07

APN/PARCEL ID

154600-147-013-0003-018-100-0000

ASK ABOUT THIS PROPERTY

Robert BenderFortis Net LeaseMore Info
248-254-3406

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Robert BenderFortis Net LeaseMore Info
248-254-3406

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