September 15, 2023 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Dollar General in Davenport Center, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,400,000.
Dollar General is located at 11160 State Highway 23 in Davenport, New York. Dollar General commenced a 15-year Absolute Net Lease in August of 2018 that currently has over 10 years of term remaining and is followed by three (3), 5-year renewal options. The lease features 10% rent increases at the start of each renewal option. The Property is situated on a large, 2.22-acre lot with excellent visibility and frontage along State Highway 23, with prominent signage. Davenport Center is a census-designated place within the town of Davenport, and State Highway 23 is the only highway traversing the down. Davenport is roughly between Albany and Syracuse, 70 miles from Albany to the northeast and 90 miles from Syracuse to the northwest.
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.