New Dollar General Investment
For Sale
$1,947,403
6028 Trenton Road, Utica, NY 13502
Opportunity to purchase a brand new Dollar General located in Buffalo, NY
Property Size10,640 SF
Lot Size1.54 Acres
Price / SF$183.03
Days on Market569
Property Features for 6028 Trenton Road
General Information
Standard status
Active
Property type
Other retail properties, Individual retail properties, Other investment properties, Retail properties & Spaces, Investment properties
Size
10,640 SF
Elevators
N/A
Lot size
1.54 Acres
Investment Type
Net Lease
Net Operating Income
$146,055
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
(925) 348-1844
Listed By:
Kase
(925) 348-1844
Added: Jan 27, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This is an investment opportunity featuring a new 10,640-square-foot Dollar General located on a 1.54-acre lot in Utica, New York. The property includes a newly constructed building designed to the tenant's prototype specifications. A new 15-year absolute NNN lease is in place, commencing in October 2024, featuring 5% rent increases every five years and five, 5-year renewal options. This investment offers zero landlord obligations and the security of a corporate guarantee. The location benefits from close proximity to Highway 12 and the SUNY Polytechnic Institute, with an enrollment of 1,990 students. The property is near the Riverside Center, a retail hub featuring national brands such as Walmart, Lowe's Home Improvement, Five Guys, and Applebee's. Utica is the county seat of Oneida County and the tenth-most populous city in New York State, located in the Mohawk Valley.
Key Highlights
- New 15 Year Absolute NNN Lease
- Zero Landlord Obligations
- Corporate Guarantee
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$107,028
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,140,560
$2.1M
Cap Rate 7%
$1,528,971
$1.5M
Cap Rate 9%
$1,189,200
$1.2M
Market Conditions
NOI Build-Up for 10,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$159.6K $15.00/SF
− Vacancy
−$6.7K −$0.63/SF
EGI
$152.9K $14.37/SF
− OpEx
−$45.9K −$4.31/SF
NOI
$107.0K $10.06/SF
Area
Oneida County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,140,560
Cap Rate 7%
$1,528,971
Cap Rate 9%
$1,189,200
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,028 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,270 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 13502, NY
33,990
Population
15,337
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
51.4 sq mi
ZIP Area
661
Density / Sq Mi
$59,530
Median Household Income
$36,927
Median Earnings
$965
Median Rent
$149,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Other retail property - Opportunity to purchase a brand new Dollar General located in Buffalo, NY
Where is this other retail property located?
The property is located at 6028 Trenton Road Utica, NY.
What is the asking price?
The asking price for this property is $1,947,403.
What are key features of this property?
This property features: New 15 Year Absolute NNN Lease; Zero Landlord Obligations; Corporate Guarantee
