Investment Overview

Marcus & Millichap is pleased to present a net leased investment opportunity consisting of two newer construction, corporate-guaranteed Dollar General stores in New York. These properties feature absolute NNN leases with zero landlord responsibilities, providing passive income streams backed by Dollar General's investment-grade credit rating. The stores are strategically located in growing communities within established metropolitan statistical areas. The first property is located at 4797 S Main St in Hemlock, NY, a growing hamlet in Livingston County, part of the Rochester MSA. Built in 2022 on a spacious 3.90-acre parcel with 9,100 SF of gross leasable area, this Dollar General benefits from its position along Main Street (US Route 15A). The surrounding area features a densely wooded, recreational landscape near Hemlock Lake. With over 30,000 residents within a 10-mile radius and an average household income of $97,000+, the location serves an affluent rural demographic. Hemlock's population has grown 10.2% year-over-year. The second property is situated at 1124 Ridge Rd in Lansing, NY, in Tompkins County, part of the Syracuse MSA. Constructed in 2022 on a 2.10-acre site with 10,640 SF. Lansing benefits from its proximity to Ithaca, home to Cornell University and Ithaca College, which drive a vibrant economy with over 30,000 students and significant employment in education, research, and technology. Within a 10-mile radius, over 40,000 residents enjoy average household incomes above $109,000, bolstered by the university-driven job market where 73.2% of the civilian labor force is employed. Both properties offer attractive cap rates with corporate NNN leases featuring 10% rent increases every option term (3/5 years), ensuring built-in growth. The Hemlock store has an NOI of $111,880 with just over 11 years remaining on the lease (expiring 2/28/2037), while the Lansing store provides $105,515 NOI with 12+ years left (expiring 4/30/2038). These built-to-suit locations underscore Dollar General's commitment to serving underserved rural and small-town markets. Dollar General Corporation (NYSE: DG), headquartered in Goodlettsville, Tennessee, is a leading discount retailer with over 20,662 stores as of 2025, operating in 48 states. Backed by an investment-grade credit rating of BBB from S&P and Baa2 from Moody's, the company reported strong financial performance, making it a reliable tenant for investors. Founded in 1939, Dollar General focuses on everyday essentials at low prices, thriving in economic cycles and expanding in high-demand areas like these New York communities.