Dollar General-Rent Increases in Primary Term
9,100 SF | Retail Building | Cresco, PA 18326 | $1,681,000 ($185/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,681,000
- Property Type
-
Retail
- Square Feet
- 9,100 SF
- Price / Square Foot
- $185
Listing Contacts
Michael Yuras
Verified Profile
Scott Crowle
Verified Profile
Vincent Aicale
Verified Profile
Ryan Forsyth
Verified Profile
- Property Info
Property Overview
This Dollar General boasts excellent visibility on Peterson Road, the main thoroughfare in Cresco, with access to 5,753 AADT directly in front of the site (largest traffic count in the area)
The site is positioned in an affluent location with an average annual household income of $95,860 within 15 miles of the site (projected 14% increase by 2028)
The property is located just 20 minutes from the Pocono Mountains, a major U.S. vacation & tourist destination with approximately 27-30 million annual visitors
The site is surrounded by popular Pennsylvania natural attractions, including Tobyhanna State Park, Hemlock Campground, ForEvergreen Nature Preserve, Promised Land State Park, and Delaware State Forest
148,598 residents live within 15 miles of the site, providing a stable customer base
The site is positioned in an affluent location with an average annual household income of $95,860 within 15 miles of the site (projected 14% increase by 2028)
The property is located just 20 minutes from the Pocono Mountains, a major U.S. vacation & tourist destination with approximately 27-30 million annual visitors
The site is surrounded by popular Pennsylvania natural attractions, including Tobyhanna State Park, Hemlock Campground, ForEvergreen Nature Preserve, Promised Land State Park, and Delaware State Forest
148,598 residents live within 15 miles of the site, providing a stable customer base
Property Details
- Class
- B
- Year Built
- 2022
- Stories
- 1
- Property Subtype
- Storefront, Freestanding, Storefront Retail/Office
- Lot Size (sq. ft)
- 79,715 SF
Highlights
- 15-Year Absolute NNN lease to major retail tenant
- Guaranteed by Dollar General Corporation (NYSE: “DG”; over $37B in 2023 revenue)
- Fixed rent in the initial term with 10% rental increases every five (5) years in option periods
- No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
- Affluent location with an average annual household income of $95,860 within 15 miles of the site (projected 14% increase by 2028)
- 20 minutes from the Pocono Mountains, a major U.S. vacation & tourist destination with approximately 27-30 million annual visitors
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