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Dollar General 406 E Main St 8,102 SF Retail Building Corry, PA 16407 $760,000 ($93.80/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 8,102 SF Dollar General Positioned on 0.64 Acres.
- Corporate Guaranteed Lease | S&P Rating BBB.
- 5 Mile Median Home Value Exceeds $94,540, 5 Mile Average Household Income Exceeds $58,942.
- NNN Lease currently on its 2nd Option.
- 10% Rent Bumps at Options | One, Five Year Option.
- Hard Corner Location.
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present this Dollar General store located in Corry, PA. Encumbered with NNN lease that is currently on its 2nd option. There are zero landlord responsibilities and one, five-year option to renew. The lease has a corporate guarantee from Dollar General which has a “BBB” S&P rating and is considered an investment grade tenant.
The subject property is strategically located on the corner of E Main Street (4,700 VPD) and East Street. This Dollar General is situated in a high populous area with the 5 mile population exceeding 9,553. The five mile median home value exceeds $94,540 and the five-mile average household income exceeds $58,942. The Subject offering represents
an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
The subject property is strategically located on the corner of E Main Street (4,700 VPD) and East Street. This Dollar General is situated in a high populous area with the 5 mile population exceeding 9,553. The five mile median home value exceeds $94,540 and the five-mile average household income exceeds $58,942. The Subject offering represents
an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
8,102 SF
Building Class
B
Year Built
2004
Price
$760,000
Price Per SF
$93.80
Cap Rate
7.50%
NOI
$57,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
0.64 AC
Zoning
AB8 - Business
Parking
33 Spaces (4.07 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 05-028-181.0-001.00 | Improvements Assessment | $351,800 |
| Land Assessment | $28,100 | Total Assessment | $379,900 |
PROPERTY TAXES
Parcel Number
05-028-181.0-001.00
Land Assessment
$28,100
Improvements Assessment
$351,800
Total Assessment
$379,900
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Dollar General | 406 E Main St
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