Dollar General | 400,000 People in 5 Mile Radius

3079 Bailey Avenue, Buffalo, New York 14215
$747,333

Description

Marcus & Millichap is pleased to present for sale this freestanding, single-tenant Dollar General located in Buffalo, Florida. Buffalo is the second largest city in the state of New York and serves as
a major gateway for commerce and travel across the Canadian border. The fee simple lease, backed by Dollar General Corporate, has 2.5-years remaining on the lease with rent increases in the three, five-year options to extend. This is an ideal passive investment opportunity with limited landlord responsibilities being offered at a nine percent capitalization rate.
The subject property consists of a 9,200 square foot retail space with ample parking on a 0.83-acre parcel. The property is situated near a signalized intersection with a combined traffic count of
31,668 vehicles per day. This Dollar General is located less than a half mile from the Kensington Expressway with a daily traffic count of 97,845 vehicles per day. The property benefits from
the 406,250 residents within a 5-mile radius with an average household income of $63,170.
There are numerous National and Regional retailers in the immediate area including AutoZone, HSBC Bank, Aaron’s, Tim Horton, 7-Eleven, DaVita, Family Dollar and KeyBank among others.
Dollar General is a growing Fortune 500 company (#119) with over $25.63 Billion in revenue in 2019. Dollar General has an investment grade credit rating of BBB by Standard & Poor’s, and it is publicly traded on the New York Stock Exchange under the ticker symbol, “DG”. Dollar General operates a chain of over 15,400 discount stores in about 44 states, primarily in the Southern and Eastern US, the Midwest, and the Southwest. The company offers basic household supplies including cleaning supplies, health and beauty aids, food and apparel. Most of the merchandise which is carried in the stores is priced between $1 and $35.

  • Investment Grade Credit Tenant | S&P: BBB
  • Three, Five-Year Options with Increases
  • Dense Population of over 406,250 Residents within Five Miles
  • Trade Area Average Household Income of Over $63,170
  • NN Lease – Tenant Pays RE Taxes, Insurance and CAM
  • Under Market Rent of $7.69 PSF
  • Low Retail Vacancy of 2.1% within One-Mile of Property
  • Buffalo is the Second Largest City in New York
  • Dollar General Generated more than $25.63 Billion in Revenue in 2019 | Nine Percent Growth over 2018

Property Documents

  • City: Buffalo
  • State/county: New York
  • Zip/Postal Code: 14215
  • Country: United States

Detail

  • Price: $747,333
  • Year Built: 2010

Additional details

  • CAP RATE: 9.00%
  • NOI: $67,260

Features