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Dollar General | Norwich, NY 6192 State Highway 12 9,026 SF Retail Building Norwich, NY 13815 $1,597,714 ($177.01/SF) 7% Cap Rate
Investment Highlights
- Dollar General covers all taxes, insurance, and maintenance for fully passive ownership.
- Large 2.67 acre parcel with 15-year absolute NNN lease through June 2036 with three 5-year options and 10% rent increases.
- Serves as a key retail destination in Norwich, NY, with stable local demand.
- Corporately guaranteed by Dollar General (NYSE: DG), rated BBB with $40B+ in 2024 revenue and 20,000+ stores.
- Located along State Highway 12 (14,280 VPD) near I-88, offering strong regional connectivity.
- Close to UHS Chenango Memorial Hospital, schools, and Norwich’s main retail corridor.
Executive Summary
Under the NNN lease, Dollar General is responsible for taxes, insurance, and maintenance—including roof and structure—resulting in zero landlord obligations and a fully passive, management-free investment.
CORPORATE GUARANTEE FROM INVESTMENT-GRADE TENANT
The lease is corporately guaranteed by Dollar General (NYSE: DG), an investment grade credit tenant rated BBB by Standard & Poor’s, with nationwide operations exceeding 20,000 locations and 2024 revenue over $40 billion.
LONG-TERM NET LEASE WITH RENEWAL OPTIONS
The property is subject to a 15-year absolute NNN lease commencing June 26, 2021, and expiring June 30, 2036, with approximately 10 years remaining. The lease includes three (3) five-year renewal options with 10% increases in each option, providing predictable income growth and long-term stability.
IDEAL DOLLAR GENERAL SUBMARKET
Dollar General serves as a primary source for grocery and household necessity items in Norwich, NY, a smaller community with a stable residential base. The property benefits from a strong local trade area and aligns with Dollar General’s focus on markets that combine consistent daily traffic with long-term population stability.
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Jun 2036
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.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jun 2036 |
Presented by
Dollar General | Norwich, NY | 6192 State Highway 12
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