65 Baltimore StSpring Grove, PA 17362

Property Details for 65 Baltimore St

Year built

2016

Lot size

1.39 AC

Property size (Sq ft)

9,360 SF

Zone code

RS

Property type

Retail properties

Property subtype

Retail space

APN

73-000-DG-0016.C0-00000

APU

73000DG0016C000000

Description

This 9,100 square foot Dollar General store in Spring Grove, PA, presents a compelling investment opportunity. Located at 65 Baltimore St, 17362, this property boasts a 7.91% cap rate and a substantial net operating income (NOI) of $102,888. The absolute NNN lease with Dollar General, a credit-rated tenant with a corporate guarantee, provides significant security and minimal landlord responsibilities. With a remaining lease term of 7.1 years (expiring December 31, 2031), this investment offers predictable cash flow. Built in 2016 and situated on a 1.4-acre lot, the property benefits from a recent (2023) interior remodel, including the addition of coolers and self-checkout. The location is advantageous, with minimal competition within a five-mile radius and a large population base within a ten-mile radius (over 125,000 residents). The asking price is $1,300,000 ($142.86/sq ft). This property is ideally positioned to benefit from the growth in the York-Hanover MSA, which is home to over 450,000 people, and is centrally located between Hanover, Shrewsbury, and York, Pennsylvania. Furthermore, the property's proximity (2 miles) to a new residential development adds to its long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,935,614

  6.5%

  $2,709,797

  7%

  $2,516,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,409,129

  Geo Method

  $1,483,871

• Alternative Use

  Use

  Valuation

  Residential

  $2,285,816

  Hospitality

  $2,093,795

  Educational

  $1,742,013

  Medical

  $1,801,923

  Retail

  $2,709,797

Location Insight

City

Spring Grove

County

York

State

Pennsylvania

Latitude

39.8118

Longitude

-76.8376

CBSA code

49620

CBSA name

YORK-HANOVER, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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