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Vacant-User

Dollar General

197 Main St, Great Barrington, MA 01230

Listing Price: $1,528,750

Cap Rate
7.00%
Rentable SF
6,624
Lot Size
0.38 acres
Year Built
1972

Investment Overview

Marcus & Millichap is pleased to present the Dollar General location located at 197 Main Street in Great, Barrington, MA. The site has historically operated as a pharmacy since the 1960s and began as a local drug store, before being purchased by Rite Aid. The property remained as a Rite Aid until the Walgreens acquisition, where it was then rebranded as a Walgreens location and has since been subleased to Dollar General. Dollar General is now the sublessee of Walgreens until June 30, 2029. Until this date, Walgreens is the guarantor of the lease, and will be paying $110,000 annually. Upon conclusion of the current Walgreens lease term, Dollar General becomes the direct tenant, and has a lease for the following 4.5 years ending January 31, 2034. When Dollar General becomes the direct tenant on the lease, the rent will be adjusted to $105,000 annually. The new lease with Dollar General includes (3) 5 Year option periods, with 5% increases at each option. The NNN lease features minimal landlord responsibilities, with the landlord only responsible for roof & structure. The roof was replaced just over a decade ago and has been maintained by the owner, fixing any normal wear and tear that has occurred.

The 6,624 square foot building sits on a 0.38-acre lot along Main St in Great Barrington. Main St is the primary retail corridor of the town, and the site is passed by more than 17,000 vehicles per day. The property is in a highly walkable area and experiences increased foot traffic during much of the year as tourists flock to the Berkshires to experience the natural beauty of the region in the Summer, take in the fall Foliage in Autumn, and hit the slopes of the Catamount and Butternut ski resorts in the Winter. The subject property is surrounded by many national tenants, including Marshall’s Tractor Supply Co, Dunkin, Subway and more, as well as many local and regional tenants, attracting many customers to the area.

Investment Highlights

  • NNN LEASE WITH MINIMAL LANDLORD RESPONSIBILITIES
  • 10 YEARS REMAINING WITH (3) 5-YEAR OPTIONS TO EXTEND
  • SCHEDULED RENT INCREASES AT THE BEGINNING OF EACH OPTION
  • INITIAL CAP RATE OF 7.20%, BLENDED CAP RAP RATE OF 7.00% OVER 10-YEAR TERM

Exclusively Listed By

Vacant-User

Dollar General

Listing Price: $1,528,750

Cap Rate
7.00%
Rentable SF
6,624
Lot Size
0.38 acres
Year Built
1972

Investment Highlights

  • NNN LEASE WITH MINIMAL LANDLORD RESPONSIBILITIES
  • 10 YEARS REMAINING WITH (3) 5-YEAR OPTIONS TO EXTEND
  • SCHEDULED RENT INCREASES AT THE BEGINNING OF EACH OPTION
  • INITIAL CAP RATE OF 7.20%, BLENDED CAP RAP RATE OF 7.00% OVER 10-YEAR TERM

Investment Overview

Marcus & Millichap is pleased to present the Dollar General location located at 197 Main Street in Great, Barrington, MA. The site has historically operated as a pharmacy since the 1960s and began as a local drug store, before being purchased by Rite Aid. The property remained as a Rite Aid until the Walgreens acquisition, where it was then rebranded as a Walgreens location and has since been subleased to Dollar General. Dollar General is now the sublessee of Walgreens until June 30, 2029. Until this date, Walgreens is the guarantor of the lease, and will be paying $110,000 annually. Upon conclusion of the current Walgreens lease term, Dollar General becomes the direct tenant, and has a lease for the following 4.5 years ending January 31, 2034. When Dollar General becomes the direct tenant on the lease, the rent will be adjusted to $105,000 annually. The new lease with Dollar General includes (3) 5 Year option periods, with 5% increases at each option. The NNN lease features minimal landlord responsibilities, with the landlord only responsible for roof & structure. The roof was replaced just over a decade ago and has been maintained by the owner, fixing any normal wear and tear that has occurred. The 6,624 square foot building sits on a 0.38-acre lot along Main St in Great Barrington. Main St is the primary retail corridor of the town, and the site is passed by more than 17,000 vehicles per day. The property is in a highly walkable area and experiences increased foot traffic during much of the year as tourists flock to the Berkshires to experience the natural beauty of the region in the Summer, take in the fall Foliage in Autumn, and hit the slopes of the Catamount and Butternut ski resorts in the Winter. The subject property is surrounded by many national tenants, including Marshall’s Tractor Supply Co, Dunkin, Subway and more, as well as many local and regional tenants, attracting many customers to the area.

Exclusively Listed By

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