5709 6Th AveAltoona, PA 16602

Property Details for 5709 6Th Ave

Lot size

0.17 AC

Property type

Other commercial real estate

APN

01.14-07..-004.00-000

APU

1140700400000

Description

This exceptional investment opportunity presents a 9,100 square foot Dollar General store located at 5709 6th Ave, Altoona, PA 16602. The property boasts a 15-year absolute NNN lease, commencing October 30, 2023, and expiring October 31, 2038, with a remaining term of 14 years. The lease includes 5% rent increases every five years and three five-year renewal options, ensuring long-term, stable income. The property features an upgraded façade and sits on a 0.69-acre lot in a high-traffic area with over 11,500 daily vehicles passing by. The tenant, Dollar General Corporation, is investment grade rated BBB by Standard and Poor's, providing significant financial security. With a current NOI of $136,970 and a 6.50% cap rate, this single-tenant, single-story building represents a compelling investment opportunity. The property is zoned commercial and was built in 2023. The asking price is $2,107,230, or $231.56 per square foot. The 30,024 population within a 3-mile radius further supports the property's strong potential for continued success. This is a truly passive investment with zero landlord responsibilities.

• Alternative Use

  Use

  Valuation

  Residential

  $1,808,383

  Hospitality

  $1,656,469

  Educational

  $1,378,163

  Medical

  $1,425,560

  Retail

  $2,143,809

Location Insight

City

Altoona

County

Blair

State

Pennsylvania

Latitude

40.4725

Longitude

-78.4244

CBSA code

11020

CBSA name

ALTOONA, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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