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Dollar General Building 1 Mill Rd 14,341 SF 100% Leased Retail Building Newville, PA 17241 $1,691,000 ($117.91/SF) 7.98% Cap Rate
Investment Highlights
- Recession-resistant tenant lineup: Dollar General, H&R Block, and Diamond Palace Skill Games
- Modern 2013 construction minimizes CapEx exposure for incoming buyer
- Located on Route 233, key connector between I-81 and I-76 with heavy commuter traffic
- H&R Block lease extended through January 31, 2035 with 2.5% annual rent increases
- 86% occupied with 2,009 SF of vacant upside available for incremental income
- 5-mile population of ~11,919; Dollar General ranked 51st nationally per AlphaMap data
Executive Summary
Kyle Matthews
Matthews Real Estate Investment Services, Inc
RM423998, RB068831 (PA)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
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Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business started by J.L. Turner and Cal Turner Sr., and the first Dollar General store opened in the mid-1950s. The company operates a discount retail model through Dollar General, DG Market, DGX, and pOpshelf formats, serving customers with food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, seasonal décor, private brands, and national labels. Dollar General supports online shopping and positions itself around affordable everyday goods and community-focused services.
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- Professional, Scientific, and Technical Services
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H&R Block began when brothers Henry and Richard Bloch started offering tax preparation services in Kansas City, Missouri. The company pioneered the tax preparation industry by providing affordable assistance to individuals and small businesses. Today, it operates thousands of retail offices worldwide while also offering do-it-yourself online tax solutions. In addition to core tax services, H&R Block provides payroll services, business consulting, and financial products like refund advances. The company serves clients in multiple countries through both physical locations and digital platforms.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Diamond Palace Skill Games | Retailer | - | - | - | ||
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Retailer | - | - | - | ||
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Professional, Scientific, and Technical Services | - | - | - |
Property Taxes
| Parcel Number | 46-07-0481-041 | Improvements Assessment | $614,900 |
| Land Assessment | $81,600 | Total Assessment | $696,500 |
Property Taxes
