729 Route 32a - Freestanding FOR SALE


Palenville, NY 12463
$1,487,021 USD
586-200-0041
729 Route 32a, Palenville, NY for Sale
$1,487,021 USD
Freestanding - FOR SALE
1/6
null | 7.25% Cap Rate

729 Route 32a
Palenville, NY 12463


HIGHLIGHTS

  • Absolute NNN lease with zero landlord responsibilities
  • Corporate guaranteed by Dollar General Corporation, S&P BBB
  • 400,000+ estimated annual visitors to tourist attractions within 11 miles
  • 2015 build-to-suit construction on 1.18 acres
  • Located at the Route 32A and 23A junction, sole route up Kaaterskill Clove
  • Four five-year options at 10% increases, income through 2050

OVERVIEW

±9,026 SF single tenant Dollar General on ±1.18 acres at 729 Route 32A, Palenville, New York, corporately guaranteed by Dollar General Corporation (NYSE: DG), S&P BBB. True absolute NNN with tenant responsible for roof, structure, and parking lot, delivering $107,809 NOI with zero landlord obligations. Roughly 4 years remain on the initial term plus four five-year options at 10% increases, extending income through 2050 at $157,844. Positioned at the Route 32A and 23A junction, the sole access route up Kaaterskill Clove, with Kaaterskill Falls, North South Lake Campground, and Hunter Mountain drawing 400,000+ visitors annually within 11 miles. Five-mile household income of $100,167 runs well above the national Dollar General average. 2015 build-to-suit construction in a Northeast market where Dollar General rarely builds, with no competing dollar retailer in the hamlet.

FOR SALE DETAILS

PRICE

$1,487,021 USD

PRICE/SF

$163 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront Retail/Office, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

-

APN/PARCEL ID

192689-184-019-0003-023-000-0000

ASK ABOUT THIS PROPERTY

Corbin MontpasAMC Real Estate Investment ServicesMore Info
586-200-0041

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Corbin MontpasAMC Real Estate Investment ServicesMore Info
586-200-0041

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