Dollar General Plus

3030 North Seneca Street, West Seneca, NY 14224

$2,730,769

Cap Rate 6.50%

$2,730,000

Cap Rate 6.50%

Updated: 06.19.24 Posted: 11.03.23 Status: Sold

Summary

Price $2,730,769 $2,730,000	Built/Renov 2023	Tenant Dollar General Plus
Cap Rate 6.50% 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,542	Lease Start 01-15-2024	#Units 19,986
Price/SF $259.04 $258.96	Expiration 01-31-2039	Tenant Type Dollar/Discount
NOI $177,500	R. Term 13.8	Ownership Fee Simple
Rent/SF $16.84	Increases 10.0%/15/yrs	Pop 5Mi 192,188
Lot/AC 1.20	Options 5/5yrs/10%	AHHI 5Mi $68,530

Robby Pfeiffer

Marcus & Millichap

Contact

Lease Highlights

Brand-new 2023 construction
Dollar General Plus will execute a brand new 15-year lease commencing January 2024 with 4 (5-year) options to renew
Lease features a rental increase of 10% at beginning of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee lease (NYSE: DG)
Investment grade tenant (S&P: BBB)

Location Description

Dollar General Plus is strategically located along Seneca Street, in close proximity to national tenants such as Wegmans, Office Max, Petco, Goodyear, and Aldi. It is also conveniently located just 1 mile from West Seneca High School and 1.4 miles from Western New York Medical Park. The 5-mile trade area is supported by a population of 192,188 residents, earning an average annual household...

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Key Features

New construction
Strategically located
Dense 100M+ pop 5 mi
Top 100 MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia West Seneca, New York Zip Code 14224 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dollar General
Guarantor:Corp T and Rated
Company:Dollar General Corporation
# Units:19,986
Tenant S&P: BBB
Moody’s: Baa2
Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores . The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,058	97,326	196,582
2023 Total Population :	8,233	99,325	199,236
2023 Employed Civilian Pop :	4,316	50,267	95,114
2023 Total Businesses :	290	2,444	5,802
2023 Average Household Income :	$ 75,558	$ 78,558	$ 75,516
2023 Total Consumer Spending :	$ 250 M	$ 3032 M	$ 5804 M
2023 Median Age :	45	43	43
2023 Total Households :	3,805	44,175	87,853
2023 Pop Age 25+: Bachelor's Degree :	1,167	13,762	24,683
2023 Average Home Value :	$ 211,773	$ 218,526	$ 213,721

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Center Rd	Lyndale Ct	2011	8,390	0.14 mi
Seneca St	Center Rd	2019	13,393	0.15 mi
Center Road	Westminster Rd	2018	8,448	0.18 mi
Seneca Street	Columbia Pkwy	2018	14,022	0.22 mi
	Graham Ave	2021	12,758	0.30 mi
Orchard Park Road	Ridge Rd	2021	15,530	0.37 mi
Orchard Park Rd	Marlow Rd	2011	16,600	0.37 mi
Seneca Street	Pomona Pl	2021	12,787	0.38 mi
Seneca St	Bellwood Ave	2019	14,272	0.40 mi
Seneca St	Bellwood Ave	2011	15,663	0.44 mi

Listing Broker

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