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Dollar General, Liverpool, NY

Dollar General

Liverpool, NY

Price $2,188,000
Cap Rate 6.35%
NOI $138,940
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot Replacement
Rental Increases 10% Rental Increases in Option Periods
Year Built 2019
Building Size 11,347 SF
Lot Size 1.84 Acres (80,151 SF)
Status Available
Lead Broker Information Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM NET LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Net lease with four (4) option periods of five (5) years each
» 10% rental increases in option periods, providing a hedge against inflation
» Minimal landlord management

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $25.6 billion
» Dollar General Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

CENTRAL LIVERPOOL LOCATION WITH ACCESS TO MAIN THOROUGHFARES AND COMMUNITY HUBS
» Signalized, hard-corner location at the four-way intersection of Bear Road and Buckley Road (combined 29,563 AADT)
» 123,934 residents live within a five-mile radius of the location, providing a large customer base for the site
» Located in an affluent area, with an average annual household income of $86,646 within one mile of the site
» Beneficial proximity to Liverpool’s largest employers, including Lockheed Martin and National Grid (combined 6,400 employees)
» Projected 10 percent increase in average annual household income within five miles of the site in the next five years, poising Liverpool and Dollar General for significant concurrent growth
» Central location within the Liverpool Central School District (14 schools, 7,033 students)
» Surrounded by several national retailers, including Wegmans, Lowe’s, OfficeMax, Panera Bread, Wendy’s, and more, promoting crossover shopping to the location
» The property resides eight miles from Downtown Syracuse, the fifth-most populous city in the state of New York



Property Description

The property is strategically located at the signalized hard-corner of the four way intersection of Bear Road and Buckley Road, which experiences a high traffic count of 29,563 vehicles per day. 123,934 residents live within a five-mile radius of the location, providing a large customer base for the site. The property also benefits from its location in an affluent area, with an average annual household income of $86,646 within one mile of the site. The site is also centered minutes from Liverpool’s largest employers, including Lockheed Martin and National Grid (combined 6,400 employees), increasing the site’s visibility. With a projected 10 percent increase in average annual household income within five miles of the site in the next five years, Dollar General and Liverpool are poised for significant concurrent growth.

Visibility to the site is also increased by its proximity to major Liverpool community hubs. The property is centrally located within the Liverpool Central School District, which features 14 schools and 7,033 students. The site is surrounded by several national retailers, including Wegmans, Lowe’s, OfficeMax, Panera Bread, Jimmy John’s, Wendy’s. The property is also eight miles from Downtown Syracuse, the fifth-most populous city in the state of New York.

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