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Updated: 12.19.23 Posted: 08.22.23 Status: Sold 08.23.23

Summary

Price $1,575,000 $1,632,000
Built/Renov 2019
Tenant Dollar General
Cap Rate 6.48% 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,100
Lease Start 07-01-2019
#Units 19,294
Price/SF $173.08 $179.34
Expiration 07-31-2034
Tenant Type Dollar/Discount
NOI $102,000
R. Term 9.2
Ownership Fee Simple
Rent/SF $11.21
Increases 10.0%/0/yrs
Pop 5Mi 4,999
Lot/AC 2.05
Options 4/5yrs/10%
AHHI 5Mi $107,211

Lease Highlights

  • Dollar General has 11+ years remaining on its current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increases during each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

Dollar General is strategically located along Helderberg Trail a major thoroughfare in East Berne, NY. The site benefits from limited competition as this store serves as the main source of goods for the population. Located in Albany County, East Berne is a hamlet within the larger town of Berne. A largely agricultural community, East Berne is home to many family farms, as well as the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock:NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 241 1,584 4,434
2023 Total Population : 248 1,627 4,517
2023 Employed Civilian Pop : 129 867 2,381
2023 Total Businesses : 13 27 101
2023 Average Household Income : $ 108,769 $ 110,741 $ 116,407
2023 Total Consumer Spending : $ 12 M $ 70 M $ 191 M
2023 Median Age : 50 50 50
2023 Total Households : 131 741 1,917
2023 Pop Age 25+: Bachelor's Degree : 37 244 672
2023 Average Home Value : $ 396,516 $ 378,419 $ 385,678
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Helderberg Trl Haluska Ln 2000 1,700 0.44 mi
Thacher Park Road Warners Lake Rd 2021 1,629 0.45 mi
Warners Lake Rd Craig Ln 2006 510 0.83 mi
Helderberg Trail Daisy Ln 2021 1,429 1.31 mi
Helderberg Trail Canaday Hill Rd 2021 1,764 1.84 mi
Chrysler Ln 2021 51 2.14 mi
Thacher Park Rd Raber Rd 2006 1,080 2.18 mi
CR 2 W Woodstock Rd 2021 484 2.27 mi
NY 157A Deamer Ln 2021 385 2.28 mi
Thompsons Lake Rd 2021 214 2.28 mi

Listing Broker

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