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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.
- 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
ABSOLUTE NNN LEASE - PASSIVE OWNERSHIP STRUCTURE
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.
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
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,026 SF
Building Class
B
Year Built
2020
Price
$1,597,714
Price Per SF
$177.01
Cap Rate
7%
NOI
$111,840
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
2.67 AC
Zoning
03
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Jun 2036
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jun 2036 |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Not bikeable
10/100
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Dollar General | Norwich, NY | 6192 State Highway 12
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