Skip to main content

Discount

Dollar General

16684 NY-31, Holley, NY 14470

Listing Price: $733,773

Cap Rate
7.53%
Tenant Name
Dollar General
Years Remaining On Lease
3.3
Guarantor
Corporate Guarantee
Rentable SF
9,014
Lease Type
Double Net
Rent Per Square Feet
$6.44

Investment Overview

Marcus & Millichap is pleased to present for sale, a Dollar General store located at 16684 NY-31 in Holley, Orleans County, New York. The subject property is situated along a commercial corridor with a healthy array of nearby businesses that assist in drawing traffic to the location. Holley Pharmacy, Sam’s Diner, United Post Office (USPS), V&M Automotive, Stockham Lumber, Luxury Landscaping & Painting and Mobil Gas are in the immediate vicinity of the subject property. The ±9,014 SF building was constructed in 2004 as a build-to-suit for Dollar General and is situated on a ±1.14-acre lot, featuring approximately 50 parking spaces as well as ingress/egress along State Highway 31. The property has undergone substantial renovations over the past few years, with replacement of a ballast, HVAC unit and compressor unit in 2018, as well as a complete roof replacement in 2019. Dollar General signed its original 10-Year, NN lease in 2004. In 2014, the tenant exercised its first 5-year renewal option, which was later extended through September of 2024 at the current rental rate. The tenant currently has just under 3.5 years remaining on the extended lease term and has two, 5-year renewal options, each with 5% rental escalations. The tenant is responsible for the direct payment of property insurance and reimburses the landlord for property taxes, exterior common area maintenance and preventative HVAC maintenance, while the landlord is responsible for roof and structure.

Investment Highlights

  • 15% Below Market Rent Supports Likelihood of Renewal
  • Semi-Passive Investment (NN Lease)
  • Low Landlord Responsibility Due to Recent Capital Improvements (New Roof 2019)
  • Two, 5-Year Renewal Options with 5% Escalations

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311205789

    New York

Listing Price: $733,773

Cap Rate
7.53%
Tenant Name
Dollar General
Years Remaining On Lease
3.3
Guarantor
Corporate Guarantee
Rentable SF
9,014
Lease Type
Double Net
Rent Per Square Feet
$6.44

Investment Highlights

  • 15% Below Market Rent Supports Likelihood of Renewal
  • Semi-Passive Investment (NN Lease)
  • Low Landlord Responsibility Due to Recent Capital Improvements (New Roof 2019)
  • Two, 5-Year Renewal Options with 5% Escalations

Investment Overview

Marcus & Millichap is pleased to present for sale, a Dollar General store located at 16684 NY-31 in Holley, Orleans County, New York. The subject property is situated along a commercial corridor with a healthy array of nearby businesses that assist in drawing traffic to the location. Holley Pharmacy, Sam’s Diner, United Post Office (USPS), V&M Automotive, Stockham Lumber, Luxury Landscaping & Painting and Mobil Gas are in the immediate vicinity of the subject property. The ±9,014 SF building was constructed in 2004 as a build-to-suit for Dollar General and is situated on a ±1.14-acre lot, featuring approximately 50 parking spaces as well as ingress/egress along State Highway 31. The property has undergone substantial renovations over the past few years, with replacement of a ballast, HVAC unit and compressor unit in 2018, as well as a complete roof replacement in 2019. Dollar General signed its original 10-Year, NN lease in 2004. In 2014, the tenant exercised its first 5-year renewal option, which was later extended through September of 2024 at the current rental rate. The tenant currently has just under 3.5 years remaining on the extended lease term and has two, 5-year renewal options, each with 5% rental escalations. The tenant is responsible for the direct payment of property insurance and reimburses the landlord for property taxes, exterior common area maintenance and preventative HVAC maintenance, while the landlord is responsible for roof and structure.

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