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1133 State Route 22 15,103 SF 100% Leased Retail Building Cambridge, NY 12816 $985,000 ($65.22/SF) 10.25% Cap Rate
Investment Highlights
- New paved parking Lot
- New Parking lot lighting
Executive Summary
This well-maintained 15,103 square foot commercial building presents a investment opportunity with a long-term lease to a nationally recognized tenant, Dollar General who has been the anchor tenant since 2006, occupying 81% of the building. The remaining 19% is leased as storage space to another tenant, providing additional, stable rental income. The property also has a long term ground lease to Verizon for a tower. The property is Located on a sprawling 5-acre lot with room to construct another building on the property for additional income. The property features a newly paved parking lot and upgraded lighting, ensuring a welcoming and safe environment for customers and tenants alike. The leases are structured as a Triple Net (NNN) lease, The asking price is for the building, property and the Verizon Tower lease & easement is $1,250,000. If interested in just the Building and property without the Verizon tower lease and easement the asking price is $985,000.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
15,103 SF
Building Class
B
Year Built
1980
Price
$985,000
Price Per SF
$65.22
Cap Rate
10.25%
NOI
$101,007
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.07
Lot Size
5.00 AC
Zoning
Commercial
Parking
50 Spaces (3.31 Spaces per 1,000 SF Leased)
Frontage
133’ on State Route 22
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 12,333 SF
- $11.77
- Triple Net
- Feb 2029
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business created by J.L. Turner and Cal Turner. The company later evolved into a discount retailer and now focuses on everyday essentials, including food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, and seasonal décor, alongside private brands and well-known national brands. Dollar General also operates DG Market, DGX, and pOpshelf formats in the United States and Mi Súper Dollar General stores in Mexico, while continuing to build a broad convenience-oriented general merchandise business.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 12,333 SF | $11.77 | Triple Net | Feb 2029 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 535089-263-000-0003-004-002-0000 | Improvements Assessment | $814,000 |
| Land Assessment | $36,000 | Total Assessment | $850,000 |
Property Taxes
Parcel Number
535089-263-000-0003-004-002-0000
Land Assessment
$36,000
Improvements Assessment
$814,000
Total Assessment
$850,000
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1133 State Route 22