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4 Morgan St
Ilion, NY 13357
Dollar Tree · Retail Property For Sale
Investment Highlights
- Quality Construction All-Brick Building w/ Drive-Thru | Drugstore Prototype
- Fresh 10-Yr Term Remaining | Options to Extend w/ 10% Increases in Options
- Hard Corner Main on Main Location | Signalized Intersection | Ease of Access | 27,577 VPD+
- Double Net Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Corporate Guarantee | Credit Rating: S&P "BBB" | Investment Grade
- Adjacent to Leading Dollar General in the Country (#4 Dollar General in New York)
Executive Summary
Encore REIS is pleased to offer the opportunity to acquire the fee simple interest (land & building) in a Double Net (NN) leased Dollar Tree investment located in Ilion, NY.
The Tenant, Dollar Tree Stores, Inc., recently executed a 10-year lease term with 4,5-year options and 10% increases in each option period. Dollar Tree was incentivized to enter the market after learning the strength of the neighboring rival, Dollar General.
Dollar Tree was able to secure its spot in the former drugstore which out positions its competitor aiming to draw attention from all local shoppers. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
The Tenant, Dollar Tree Stores, Inc., recently executed a 10-year lease term with 4,5-year options and 10% increases in each option period. Dollar Tree was incentivized to enter the market after learning the strength of the neighboring rival, Dollar General.
Dollar Tree was able to secure its spot in the former drugstore which out positions its competitor aiming to draw attention from all local shoppers. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
14,599 SF
Year Built/Renovated
2004/2024
Price
$2,367,900
Price Per SF
$162.20
Cap Rate
7%
NOI
$165,753
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.30 AC
Property Taxes
| Parcel Number | 212801-119-044-0004-005-000-0000 | Improvements Assessment | $0 |
| Land Assessment | $22,500 | Total Assessment | $22,500 |
Property Taxes
Parcel Number
212801-119-044-0004-005-000-0000
Land Assessment
$22,500
Improvements Assessment
$0
Total Assessment
$22,500
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