For Sale
$2,000,000

110 State StHerkimer, NY 13350

Dollar General & Additional Building, High Traffic

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fee-simple ownership of a 13,798 square foot retail property in Herkimer, NY. The property boasts two buildings situated on a 1.09-acre lot, featuring a Dollar General store as the anchor tenant. The Dollar General lease, a single-tenant, double net (NN) agreement, has approximately 2.5 years remaining on the base term with four, three-year lease options, each including rent bumps. The property also includes an additional building currently housing other businesses. Built in 2002 and renovated in 2012, the property offers 24 parking spaces and enjoys a prime location on a high-traffic section of State Street, with over 23,000 vehicles passing daily. The strong demographics of the area, with over 26,000 people within a 5-mile radius and an average annual household income exceeding $63,000, contribute to the property's significant potential. The property's location within a thriving retail corridor, near national brands like Lowe's and McDonald's, further enhances its value. This presents a compelling value-add opportunity, with potential for future development or owner-operator use. The asking price is $2,000,000. The property's current net operating income is $59,884. This is a Class A property with excellent visibility and strong tenant occupancy.

Highlights

  • Fee-simple ownership of a 13,798 SF retail property in Herkimer, NY, with a Dollar General as the anchor tenant.
  • Dollar General's NN lease has ~2.5 years remaining with four, three-year options, including rent increases.
  • Additional building with existing tenants, plus 24 parking spaces on a 1.09-acre lot.
  • Prime location on high-traffic State Street (23,000+ vehicles daily), near Lowe's and McDonald's.
  • Strong demographics: 26,000+ people within 5 miles, average household income exceeding $63,000.
  • $2,000,000 asking price, current NOI of $59,884.

Property Details for 110 State St

Property type
Retail properties, Retail space
Square Feet
13,798 SF
Class
A
Year Built/Renovated
2002/2012
Buildings
2
Stories
1
Lot Size (sq. ft)
47,480 SF
Units
2

Location Insight

City
Herkimer
County
Herkimer
State
New York
Latitude
43.0254778
Longitude
-74.9847689
110 State St, Herkimer, New York

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110 State St
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