4 Morgan St - Retail FOR SALE


Ilion, NY 13357
$2,367,900 USD
248-702-0288
4 Morgan St, Ilion, NY for Sale
$2,367,900 USD
Retail - FOR SALE
1/6
null | 7% Cap Rate

4 Morgan St
Ilion, NY 13357


HIGHLIGHTS

  • Quality Construction All-Brick Building w/ Drive-Thru | Drugstore Prototype
  • Double Net Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Fresh 10-Yr Term Remaining | Options to Extend w/ 10% Increases in Options
  • Corporate Guarantee | Credit Rating: S&P "BBB" | Investment Grade
  • Hard Corner Main on Main Location | Signalized Intersection | Ease of Access | 27,577 VPD+
  • Adjacent to Leading Dollar General in the Country (#4 Dollar General in New York)

OVERVIEW

Encore REIS is pleased to offer the opportunity to acquire the fee simple interest (land & building) in a Double Net (NN) leased Dollar Tree investment located in Ilion, NY. The Tenant, Dollar Tree Stores, Inc., recently executed a 10-year lease term with 4,5-year options and 10% increases in each option period. Dollar Tree was incentivized to enter the market after learning the strength of the neighboring rival, Dollar General. Dollar Tree was able to secure its spot in the former drugstore which out positions its competitor aiming to draw attention from all local shoppers. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$2,367,900 USD

PRICE/SF

$162 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Central & Main

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

-

APN/PARCEL ID

212801-119-044-0004-005-000-0000

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.