3592 US Highway 9W
Highland, NY 12528
Dollar General | New 15-YR NNN | 27k VPD · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer this newly constructed Dollar General in Highland, Ulster County, New York. The Tenant, Dolgencorp of New York, Inc., is subject to a new 15-year lease that features 10 percent increases in each of the four, five-year option periods. The lease is corporately guaranteed by Dollar General, an investment grade retailer rated “BBB” by Standard & Poor’s. With more than 15,000 stores in 44 states, Dollar General is the largest discount store retailer in the United States in terms of total sales. The chain ranks #123 on the Fortune 500 list and reports annual revenue of $23.5 Billion. The Property is prominently located along Route 9 West, a north-south US highway and primary route through Highland. The road boasts a robust 27,130 vehicles per day. Dollar General occupies an “upgraded construction” 9,100-square-foot building adjacent to Burger King and a high-performing Dunkin’ Donuts within a Sunoco gas and convenience store. A 72-unit apartment complex is in development behind the property to accommodate the strong residential growth in the submarket which is projected to be 41,890 in the next five years. One-mile south is Bridgeview Plaza Shopping Center, a 144,135-square-foot center anchored by Hannaford Supermarket, which just underwent a $9 Million renovation of its space, and Tractor Supply Company. AutoZone has approval to build a store adjacent to the center as well. In addition to proximity to notable retailers, Dollar General benefits from limited competition in the submarket. The nearest Family Dollar and Dollar General locations are across the Hudson River four miles east in Poughkeepsie, a distinctly different trade area.