Address: 692 PA Route 6, Shohola, Pennsylvania, United States 18458
Type: Net Leased Dollar Store
Cap Rate: 6.60%
Lease Type: Triple Net (NNN)
Annual Rent: $99,942
Net Operating Income: $99,942
Lease Term Remaining: 15.1 Years
Rental Increases: 10% Each Option Period
Options: Three (3), Five (5)-Year
Year Built: 2018
Rentable Sq/Ft: 9,100 SF
Rent Sq/Ft: $10.98
Price Sq/Ft: $166
Lot Size: +/-3.28 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Dollar General located at 692 PA Route 6 in Shohola, Pennsylvania. The property consists of approximately 9,100 square feet of building space and is situated on roughly 3.28 acres of land.
The Dollar General opened in November 2018 and is subject to a 15-year absolute triple-net (NNN) lease. This lease commenced on November 11, 2018 and expires on November 30, 2033. The initial annual rent is $99,942 is scheduled to increase 10% in each of the three, five-year renewal options.
Founded in Goodlettsville, Tennessee, Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With over 15,000 stores in 45 states Dollar General is among the largest discount retailer.
The subject investment property is situated on US Route 6 in Shohola, Pennsylvania. US Route 6 experience an average daily traffic count of more than 4,200 vehicles. Intersecting US Route 6 within five miles of the subject property is Interstate – 84, which experiences an average daily traffic count of 18,312 vehicles. There are approximately 32,000 people residing within a ten-mile radius.
This Dollar General is well-positioned in a suburban throughway consisting of national and local industrial tenants, medical centers, automotive care, and local banks. National and local tenants in the area include Shell, 6 West Bar and Grill, Milford Auto Body, Pocono Sportscar, and many more. This Dollar General benefits from nearby academic institutions. The Northampton Community College and the Lackawanna College Lake Region are each within 20 miles of the subject property. These two schools have a combined total enrollment of over 12,000 students. The subject property also benefits from nearby medical offices within a 5 mile radius, which include the Shohola Veterinary Hospital, Milford Urgent Care, and Bon Secours Care Center.
Shohola is a growing town, less than an hour drive from Scranton, Pennsylvania. Scranton, within the Scranton/Wilkes-Barre/Hazelton MSA, encompasses the geographic area of Northeastern PA. Scranton is strategically located nearby several of the major metropolitan markets of the northeast each connected to Scranton by one of the five major highways servicing the area. Primary airport in the area, Wilkes-Barre/Scranton International Airport, provides regular jet service to nine major hubs. The MSA is home to more than 15 colleges, universities, and technical schools that collectively enroll more than 42,000 students. Academic institutions include University of Scranton, Baptist Bible College, Bloomsburg University, College Misericordia and many others. There are five general acute care hospitals, one rehabilitation hospital and one psychiatric hospital that serve the greater Scranton area. These hospitals include: Clarks Summit State Hospital, Community Medical Center Scranton, Mercy Hospital Scranton and others. Scranton includes a wide range of recreational facilities, which feature AAA baseball team the Scranton Red Barrons, American Hockey League team Scranton Penguins, over 40 golf courses, parks, playgrounds, hiking and biking trails, fishing access in the Lackawanna River, among many other activities. Ski resorts include the Montage in Scranton and the Pocono Mountain Ski Resort.
Broker of Record: Mark Taylor – License # RM423708