Skip to main content

Discount

Dollar General | 7+ Yrs. | Early Extension | Rent Increase in 2023 | Top Tier Performer

575 Broad St, Waverly, NY 14892

Listing Price: $882,000

Cap Rate
6.46%
Tenant Name
Dollar General
Years Remaining On Lease
0.4
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Double Net
Rent Per Square Feet
$6.26

Investment Overview

Marcus & Millichap is pleased to present the offering for the Dollar General located at 575 Broad Street in Waverly, New York. This subject property was build-to-suit in 2003 and currently has seven years remaining on a double net lease. The lease comes equipped with a five percent rental increase in 2023 as part of an early renewal option exercised. There is one, five-year renewal option remaining with an additional five percent rental increase. The landlord is responsible for HVAC repairs costing over $800, exterior, roof, all paved or landscaped areas structural portions of the building, maintaining any grass or landscaped area, lighting, cleaning, security, snow removal, and striping. The subject property is located on Broad Street seeing 3,653 vehicles per day, and is just off of I-86 seeing over 17,460 vehicles per day along the Pennsylvania-New York border. It is located near the Two Rivers State Park and Shepard Hills Country Club. Just south of the property is South Waverly, Pennsylvania featuring a dense retail corridor and the Guthrie Robert Packer Hospital.

Investment Highlights

  • Over Seven Years Remaining on a Double Net Lease with One, Five-Year Renewal Option Remaining
  • Tenant Extended Lease Early | Five Percent Rent Increase During Firm Term (11/1/2023)
  • Top Ranked Dollar General Location within 15 Miles and in Top Five Percent of 420 Locations within New York. - Placer.ai
  • Ranked in Top Four Percent of 13,988 National Locations. – Placer.ai
  • Investment Grade Credit Tenant (S&P "BBB") | Corporate Guaranteed
  • Essential Retailer | Dollar General has Thrived During the Pandemic and Delivered their 30th consecutive Year of Same Store Sales Growth in 2020
  • Located Just Off of Interstate 86, Seeing Over 17,460 Vehicles Per Day
  • Waverly, New York has a Population of Over 4,177 Residents | Over $64,000 Average Household Income Within Five-Miles

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311205789

    New York

Discount

Dollar General | 7+ Yrs. | Early Extension | Rent Increase in 2023 | Top Tier Performer

Listing Price: $882,000

Cap Rate
6.46%
Tenant Name
Dollar General
Years Remaining On Lease
0.4
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Double Net
Rent Per Square Feet
$6.26

Investment Highlights

  • Over Seven Years Remaining on a Double Net Lease with One, Five-Year Renewal Option Remaining
  • Tenant Extended Lease Early | Five Percent Rent Increase During Firm Term (11/1/2023)
  • Top Ranked Dollar General Location within 15 Miles and in Top Five Percent of 420 Locations within New York. - Placer.ai
  • Ranked in Top Four Percent of 13,988 National Locations. – Placer.ai
  • Investment Grade Credit Tenant (S&P "BBB") | Corporate Guaranteed
  • Essential Retailer | Dollar General has Thrived During the Pandemic and Delivered their 30th consecutive Year of Same Store Sales Growth in 2020
  • Located Just Off of Interstate 86, Seeing Over 17,460 Vehicles Per Day
  • Waverly, New York has a Population of Over 4,177 Residents | Over $64,000 Average Household Income Within Five-Miles

Investment Overview

Marcus & Millichap is pleased to present the offering for the Dollar General located at 575 Broad Street in Waverly, New York. This subject property was build-to-suit in 2003 and currently has seven years remaining on a double net lease. The lease comes equipped with a five percent rental increase in 2023 as part of an early renewal option exercised. There is one, five-year renewal option remaining with an additional five percent rental increase. The landlord is responsible for HVAC repairs costing over $800, exterior, roof, all paved or landscaped areas structural portions of the building, maintaining any grass or landscaped area, lighting, cleaning, security, snow removal, and striping. The subject property is located on Broad Street seeing 3,653 vehicles per day, and is just off of I-86 seeing over 17,460 vehicles per day along the Pennsylvania-New York border. It is located near the Two Rivers State Park and Shepard Hills Country Club. Just south of the property is South Waverly, Pennsylvania featuring a dense retail corridor and the Guthrie Robert Packer Hospital.

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311205789

    New York

MM Texture Background
MM Textured Background Lower