575 Broad StWaverly, NY 14892

Property Details for 575 Broad St

Year built

1950

Lot size

0.29 AC

Zone code

ZONE

Property type

Retail properties

Property subtype

Parking lots & garages

APN

492001 166.20-1-25.20

APU

4920011662012520

Description

This exceptional investment opportunity features a top 1% nationally ranked Dollar General store (#6065) in Waverly, NY. The 9,100 square foot freestanding building, constructed in 2003 and situated on one acre, boasts a 25-year lease (expiring 10/31/2028) with a current remaining term of 3.9 years and a 5% rent bump on the renewal option. The property enjoys a prime location with high visibility and accessibility, benefiting from significant traffic counts (17,460 vehicles daily) off Interstate 86. With minimal competition and a strong, stable local economy, this Dollar General location consistently demonstrates exceptional performance. The asking price is $857,142, representing a 7.00% cap rate and a price per square foot of $94.19. The Net Operating Income (NOI) is $60,000. The lease is corporately guaranteed by Dollar General Corporation, providing investors with significant security and assurance. This is a rare opportunity to acquire a high-performing asset with a strong tenant and excellent long-term prospects. The property's strategic location and the tenant's proven track record contribute to its potential for long-term value appreciation. This investment offers a secure and lucrative return, making it an attractive option for discerning investors seeking stable income and capital growth.

• CAP approach

  CAP return

  Valuation

  6%

  $2,998,589

  6.5%

  $2,767,928

  7%

  $2,570,219

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,908,172

  Geo Method

  $4,159,253

• Alternative Use

  Use

  Valuation

  Residential

  $2,334,851

  Hospitality

  $2,138,711

  Educational

  $1,779,382

  Medical

  $1,840,578

  Retail

  $2,767,928

Location Insight

City

Waverly

County

Tioga

State

New York

Latitude

42.0024

Longitude

-76.5283

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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