4989 S Catherine St - Retail FOR SALE


Plattsburgh, NY 12901
$1,842,000 USD
917-539-0402
4989 S Catherine St, Plattsburgh, NY for Sale
$1,842,000 USD
Retail - FOR SALE
1/4
null | 6.5% Cap Rate

4989 S Catherine St
Plattsburgh, NY 12901


HIGHLIGHTS

  • Absolute NNN Lease – Zero management asset with 9 years remaining on the base-term of the lease with a full corporate guarantee from Dollar General
  • Dollar General recently extended the lease for an additional 6 years showing a huge commitment to the site
  • Rare College Town Dollar General Location – The site sits less than a mile from SUNY Plattsburgh, with over 5,100 full-time students
  • Store is in the Top 30% of all Dollar General stores in the country

OVERVIEW

The subject offering is a 9,026 SF single-tenant net-leased Dollar General located on S Catherine Street in Plattsburgh, NY. Dollar General signed a 15-year lease here beginning in 2013. They recently extended the lease through May 30, 2034, with four additional (5) five-year options to renew. There are 5% increases in each option period. This site is in the top 30% of all Dollar General stores in the country, based on traffic and yearly visitors. This is an absolute NNN lease deal, with zero landlord responsibilities. The property rests on a 1.4-acre lot, and the site was built brand-new in 2013. This is a premium construction Dollar General build; it is masonry block construction (no metal sides). The property has parking for 37 cars. This is the rare Dollar General deal located in a college town. The property is less than one mile (0.6 miles) from the main campus for SUNY Plattsburgh, a four-year state university with 5,109 students and just over 660 staff members. SUNY Plattsburgh’s main campus is over 256 acres and features a 3,500-seat hockey arena. Plattsburgh is located in Clinton County, NY, with a population of 19,841 people, and an average household income of just over $59,000 per year. It is the population center, and the main retail hub for Clinton County.

FOR SALE DETAILS

PRICE

$1,842,000 USD

PRICE/SF

$204 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - College Town Location

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

-

APN/PARCEL ID

091300-221-007-0001-041-000-0000

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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