Dollar General - Ashland, PA
8,125 SF | Retail Building | Ashland, PA 17921 | $761,000 ($94/SF) | 8% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $761,000
- Property Type
-
Retail
- Square Feet
- 8,125 SF
- Price / Square Foot
- $94
Listing Contacts
Philip Wellde
Verified Profile
Andrew Fallon
Verified Profile
- Property Info
Property Overview
• Dollar General has approximately 5 years remaining on their current lease with 2 (5-year) options to extend
• There are 2.5% rental increases at the beginning of each option to extend, generating NOI and providing a hedge against inflation
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,000 locations in 47 states as of February 2024
• Tenant pays for CAM, taxes, and maintains most aspects of the premises
• Investor benefits from fee simple ownership of the building and land
• Landlord responsibilities limited to replacement of paved areas, roof, foundation, floor, pipes, and structure
• Ideal, low-management investment for a passive investor
• Dollar General is strategically fronting East Railroad Street
• The asset has excellent visibility via street frontage providing ease and convenience for customers
• Dollar General Stores is an American chain of variety stores that has become one of the most profitable stores in the rural United States with revenue reaching $34.22 billion
• The company has opened 1,050 new stores across the U.S. in 2023, expanding its presence to 47 states throughout the country
• More than 18,000 residents and 5,700 employees support the trade area
• $75,552 average household income within a 3-mile radius
• 60 miles from Harrisburg, 62 miles from Allentown, 111 miles from Philadelphia, and 148 miles from New York
• There are 2.5% rental increases at the beginning of each option to extend, generating NOI and providing a hedge against inflation
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,000 locations in 47 states as of February 2024
• Tenant pays for CAM, taxes, and maintains most aspects of the premises
• Investor benefits from fee simple ownership of the building and land
• Landlord responsibilities limited to replacement of paved areas, roof, foundation, floor, pipes, and structure
• Ideal, low-management investment for a passive investor
• Dollar General is strategically fronting East Railroad Street
• The asset has excellent visibility via street frontage providing ease and convenience for customers
• Dollar General Stores is an American chain of variety stores that has become one of the most profitable stores in the rural United States with revenue reaching $34.22 billion
• The company has opened 1,050 new stores across the U.S. in 2023, expanding its presence to 47 states throughout the country
• More than 18,000 residents and 5,700 employees support the trade area
• $75,552 average household income within a 3-mile radius
• 60 miles from Harrisburg, 62 miles from Allentown, 111 miles from Philadelphia, and 148 miles from New York
Property Details
- Class
- B
- Year Built
- 2004
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 37,026 SF
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