4797 Main St - Freestanding FOR SALE


Hemlock, NY 14466
$19,453,062 USD
786-522-7009
4797 Main St, Hemlock, NY for Sale
$19,453,062 USD
Freestanding - FOR SALE
1/2
null | 7.4% Cap Rate

4797 Main St
Hemlock, NY 14466


HIGHLIGHTS

  • CORPORATE LONG TERM NNN LEASES: Corp. Guarantees–Zero Landlord Responsibilities–WALT of Just Under 11 Years Remaining–Includes 10% Increases in Option
  • INVESTMENT GRADE TENANT: BBB Rating From S&P Global Ratings | Strong Operator-Has Seen Continuous Growth–94% Stock Value Growth in Last Year
  • LOW BASIS-STRONG RESIDUAL VALUE: Low Rents–Avg. Portfolio Rent of $102,823
  • NEWER CONSTRUCTION PORTFOLIO: Properties Feature 9,100 SF & 10,640 SF Designs Built in Recent Years
  • DENSELY POPULATED RURAL AREAS: Serving Communities With 5 MI Populations up to 54,000+ & AHHI Up to $109,000 | Strategic Locations-No Competition
  • *Sub-Portfolios Available - Speak To Listing Agents For Further Inquiries

OVERVIEW

Marcus & Millichap is pleased to present a net leased investment opportunity consisting of 14 newer construction, corporate-guaranteed Dollar General stores across seven states: New York, Pennsylvania, Illinois, Iowa, Missouri, Minnesota, and Kentucky. These properties feature absolute NNN leases with zero landlord responsibilities, providing passive income streams backed by Dollar General's investment-grade credit rating. The stores are strategically located in growing communities within established metropolitan statistical areas and rural markets. The portfolio emphasizes locations in small towns and rural areas with strong economic drivers such as manufacturing, healthcare, education, and retail trade. For instance, the Hemlock, NY property is situated near Hemlock Lake, benefiting from proximity to Rochester and educational institutions like SUNY Geneseo, with a 5-mile population of 30,000+ and AHHI of $92,000+. The Lansing, NY store, near Ithaca and Cornell University, serves a vibrant economy with a 13.9% population growth since 2000, a 5-mile population of 40,000+, and AHHI exceeding $109,000. In Pennsylvania, the properties in Josephine, Hopewell, and Kittanning cater to rural demographics with economies driven by retail trade (up to 20%), education, and manufacturing. Kittanning, for example, has a 5 MI population of 17,000+ and AHHI of $66,000+, with low unemployment at 3.6%. Iowa's Northwood and Belle Plaine stores are in communities with manufacturing leading employment, low unemployment (about 2.5%), and growth potential near colleges like Riverland Community College. In Missouri, Webb City and Harrisonville show strong population growth (36.5% and 11.6% since 2000). The Litchfield, MN property benefits from a manufacturing-heavy economy and proximity to St. Cloud State University. Kentucky's Topmost, Breeding, and Manchester stores serve rural markets near educational hubs like Hazard Community and Technical College. These properties offer attractive cap rates with corporate NNN leases featuring 10% rent increases every option term, ensuring built-in growth. With WALT of just under 11 years remaining on leases (expiring 2036–2038), the portfolio underscores Dollar General's commitment to serving underserved rural markets. Dollar General Corporation (NYSE: DG), headquartered in Goodlettsville, Tennessee, is a leading discount retailer with over 20,388 stores across 48 states. Backed by an investment-grade credit rating (BBB from S&P, Baa2 from Moody's), the company reported $40.61 billion in revenue for fiscal 2025 and employs 194,000+ people. Recent results show 4.6% net sales growth and 43.8% EPS increase in Q3 2025, making it a reliable tenant for investors. Founded in 1939, Dollar General focuses on everyday essentials at competitive prices, thriving in economic cycles and expanding in high-demand areas like these. BROKERS OF RECORD: NY: John Horowitz | 260 Madison Ave., 5th Floor, New York, NY 10016 | P: 212-430-5261 | Lic.# 10311204479 PA: Timothy Stephenson, Jr. | 2005 Market St., Suite 1510, Philadelphia, PA 19103 | Lic. #: RMR006104, Firm Lic. #: RB062197C | P: (215) 531-7000 IL: Steven Weinstock-Designated Managing Broker | Steven.Weinstock@marcusmillichap.com | (630) 570-2200 | Lic#:471.011175 IA: Jon Ruzicka | 1601 Utica Avenue South, Suite 301, Minneapolis, MN 55416 | P: (952) 852-9700 | Lic #: B63379000 MO: David Saverin | 7800 Forsyth Blvd., Ste. 710|St. Louis, MO 63105|P: (314) 889-2500 | Lic #: 2008013520 MN Jon Ruzicka | 1601 Utica Avenue South, Suite 30, Minneapolis, MN 55416 | P: (952) 852-9700 | Lic #: 40583288 KY: Grant Fitzgerald | 9300 Shelbyville Rd., Ste. 350 Louisville, KY 40222 | P: (502) 329-5900 | Lic.# 286261

FOR SALE DETAILS

PRICE

$19,453,062 USD

PRICE/SF

$2,138 USD /SF

CAP RATE

7.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General NNN Portfolio-Corp. Guarantee

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.9 AC

LAND SF

169,884 SF

ZONING

03 - MULTI

APN/PARCEL ID

243489-085-000-0001-067-001-0000

ASK ABOUT THIS PROPERTY

Scott SandelinThe Sandelin GroupMore Info
786-522-7009

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Scott SandelinThe Sandelin GroupMore Info
786-522-7009

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