95 Main StAvoca, NY 14809

Property Details for 95 Main St

Year built

2016

Lot size

2.03 AC

Property size (Sq ft)

9,100 SF

Property type

Retail space

APN

462201 113.12-01-050.113

APU

4622011131201050113

Description

This exceptional investment opportunity presents a fee-simple ownership of a 9,191 square-foot Dollar General store in Avoca, New York. Located at 95 S Main St, this single-story building, constructed in 2016, sits on a 2.03-acre lot and boasts a 100% occupancy rate. The property is secured by a 15-year absolute NNN lease with Dollar General Corporation, commencing January 18, 2017, and expiring January 31, 2032, leaving 7.2 years remaining. The lease includes four five-year renewal options, each with a 10% rent increase. The tenant, Dollar General, holds a "BBB" investment-grade credit rating, providing significant financial security. The property generates a substantial net operating income (NOI) of $109,271, resulting in an attractive 8.10% cap rate and a price per square foot of $146.78. The asking price is $1,349,025. This strategically positioned property benefits from high visibility on S Main Street, experiencing 3,932 vehicles per day. The surrounding area demonstrates strong demographics, with a 10-mile population of 17,436 and an average household income of $59,834. This presents an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-performing retail investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,160,162

  6.5%

  $1,993,995

  7%

  $1,851,567

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,095,026

  Geo Method

  $1,442,652

• Alternative Use

  Use

  Valuation

  Residential

  $1,682,010

  Hospitality

  $1,540,712

  Educational

  $1,281,854

  Medical

  $1,325,939

  Retail

  $1,993,995

Location Insight

City

Avoca

County

Steuben

State

New York

Latitude

42.4013

Longitude

-77.4202

CBSA code

18500

CBSA name

CORNING, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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