July 22, 2020 – Kyle Danielson and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Dollar General in Davenport Center, New York. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,500,000, a 6.92% Cap Rate.
Dollar General is located at 11160 State Highway 23 in Davenport, New York. This is a new construction Dollar General, the stand-alone building was completed in 2018. Dollar General has 13 years remaining on their absolute NNN lease with three, 5-Year renewal options that each feature a 10% rental increase. Dollar General is well positioned along Highway 23, the city’s main thoroughfare, and is one of the only retail stores in the town with easy access and excellent visibility.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.