About This Restaurant
Investment Highlights
Located at Busy Signalized Intersection & Hard Corner Traffic Counts Exceed 25,000 Vehicles Per Day Dollar General (NYSE: DG) Corporate Guarantee (Investment Grade Credit - S&P Rated BBB) Rare 10% Rent Increase in Year 11 (July 1, 2026) 5-Mile Population Exceeds 108,000 Residents w/ Average Household Income Over $76,000 Just 15-Miles to Downtown Pittsburgh
Executive Summary
The subject property is a freestanding site for Dollar General located in McKeesport, PA (Outside Pittsburgh). The 15-year Absolute NNN lease commenced July 1, 2015 and includes a rare 10% rental increase in year 11 (July 1, 2026) as well as 10% rental increases in the (6) five-year option periods. The lease is corporately guaranteed by Dollar General (NYSE: DG), an investment grade credit tenant, rated BBB by Standard & Poor's.The location benefits from its excellent visibility and strategic location of the hard corner, signalized intersection of Walnut St and Eden Park Blvd with combined traffic counts of over 25,000 VPD. The five-mile population is over 108,000 people with an average household income of over $76,000. National retailers in the immediate vicinity include ALDI, Rite Aid, O?Reilly Auto Parts, AutoZone Auto Parts, Exxon Gas, Planet Fitness, McDonald?s, KFC, Chase Bank and more. This site is only 15-miles from Downtown Pittsburgh and a rare opportunity for an investor to purchase a stable, long term corporately guaranteed investment on a hard corner, signalized intersection in a dense infill location with zero landlord responsibility.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Freestanding Freestanding General Retail Convenience Store General Retail Drugstore General Retail Storefront Freestanding
- Building Size 10,640
- Building Class B
- Year Built 2023
- Price 1,734,951
- Price Per SF 163
- Cap Rate 7.40
- NOI 128,386
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.18
- Land Acres 1.36 AC
Property Taxes
| Parcel Number | 0464-R-00372-0000-00 | Improvements Assessment | $261,600 |
| Land Assessment | $472,300 | Total Assessment | $733,900 |
| Date Created: | 2024-07-16 04:18:10 | Last Updated: | 2024-07-16 04:18:10 |
| Address: | 3600 Walnut St , Mckeesport, Pennsylvania, 15132 | ||