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Dollar General Net Lease Investment | 8% Cap Rate

18658 Route 287
Tioga, PA 16946
PRICE : $605,000
CAP RATE: 8%
PROPERTY TYPE: Retail
SITE SIZE: 1.07 Acres
BUILDING SIZE: 8,125 SF
YEAR BUILT: 2004

Highlights

  • Opportunistic due to short lease term and long history
  • Unique design and very well maintained
  • Underserved retail/grocery options in the area
  • Immediate area: Local elementary and high school across the street, lumber business and large plumbing fittings manufacturer on next block and 6 full time residential mobile home parks within 3 miles
  • Popular recreational area with 3 US Army Corp of Engineers lakes nearby
  • Located about 23 miles from Elmira, NY
  • Offered at the low price point of $605,000 at an 8% cap rate
  • Broker of Record: Robert G. Epstein of Paradise Realty, INC. PA License: RBR003557

Description

This single tenant NN Dollar General in Tioga, PA is a proven location, serving a community that has no grocery stores or other retail alternatives. To accommodate the demand, the store maintains additional coolers in the stock area to keep up with the demand of common grocery items. It is surrounded by the local elementary, high school and other employers in the immediate area which are traffic generators for this busy location. This is also one of the main traffic arteries for the busy recreational tourism provided by the three nearby U.S. Army Corp of Engineers lakes.

This attractive 8,125 SF store, built in 2004, features a unique architectural design with a lease that was recently extended to run through June 2024. There is one 5-year renewal option with a $250 per month rent increase. Dollar General contributes $1,200 per month to CAM for real estate taxes, insurance, and pays the Landlord for all snow removal and repairs under $1,000 per occurrence. This well-maintained property has had many upgrades to its construction including resealing and re-striping of its parking lot in 2018

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