Address: 7473 NY-5, St. Johnsville, New York, United States 13542
Type: Discount Store
Cap Rate: 7.75%
Lease Type: Double-Net (NN)
Annual Rent: $69,219
Net Operating Income: $69,219
Lease Term Remaining: 10 Years
Rental Increases: Ten Percent (10%) Each Option
Options: Two (2), Five (5) Year Option Periods
Rentable Sq/Ft: 9,014 SF
Rent Sq/Ft: $7.68
Price Sq/Ft: $99
Lot Size: +/- 1.00 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Dollar General located at 7473 NY-5, St. Johnsville, NY 13542. The property consists of roughly 9,014 rentable square feet of building space on an estimated 1.00 acre parcel of land.
Dollar General is subject to a recently extended 10 year double-net (NN) lease. The initial rent is $69,219.96. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 20 years.
This Dollar General investment property is located on US Highway-5 in St. Johnsville, NY. US Highway-5 runs directly through the center of St. Johnsville and experiences a daily traffic count of over 45,450 cars. The New York state Thruway sits directly parallel to Highway-5, which brings an additional 21,851 cars into the immediate area daily. There are nearly 3,000 individuals within a three-mile radius of the subject property and 6,000 within a five-mile radius of the subject property.
This Dollar General sits in its target market, as there is little to no competition in the surrounding area. National retail tenants in the immediate area include Kinney Drugs, Stewart’s Shops, NBT bank and more. The site is located just before the downtown St. Johnsville area with strong visibility and ease of access directly off Highway-5. This site benefits from its close proximity to the St. Johnsville school district. This Dollar General is over 10 miles from the next closest Dollar General.
St. Johnsville is a town in Montgomery County, New York, United States. The Town of St. Johnsville is in the northwest part of the county. The town contains a village, also called St. Johnsville. Both town and village are approximately halfway between Utica and Amsterdam. The Erie Canal, as part of the Mohawk River, is at the town’s south border. St. Johnsville sits almost directly in the middle of two major markets, Albany to its East and Syracuse to its right. St. Johnsville has an unemployment rate of 5.3%. St. Johnsville has seen the job market increase by .9% over the last year. Future job growth over the next ten years is predicted to be 27.8%. The economy of St. Johnsville, NY employs 712 people. The largest industries in St. Johnsville, NY are Retail Trade (161 people), Health Care & Social Assistance (128 people), and Manufacturing (120 people), and the highest paying industries are Transportation & Warehousing, & Utilities ($64,167), Transportation & Warehousing ($61,667), and Finance & Insurance ($51,250).
Broker of Record: John Krueger License #10311205789