Dollar General Investment
For Sale
Contact for pricing
Pending
1816 Lake Rd N, Hamlin, NY 14464
Two Dollar General properties in New York with 10% cap.
Property Size8,125 SF
Days on Market828
Property Features for 1816 Lake Rd N
General Information
Standard status
Pending
Size
8,125 SF
Total Parking Spaces
36
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$40,200
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
ERA Team VP Real Estate
(716) 640-0104
Listed By:
Michael McVinney · License #NY10301214857
Source:
Crexi
Added: May 15, 2024
Changed: Aug 8
Last Checked: Aug 19 at 2:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Team VP Real Estate
Investment Insights
Based on property information with market context.
This offering features a two-property net lease retail portfolio leased to Dollar General, a nationally recognized discount retailer. The portfolio includes locations in Hamlin and Eden, New York. Specifically, the properties are located at 1816 Lake Rd, Hamlin, NY and 8229 N. Main St, Eden, NY. Both properties are subject to NN (Double Net) leases, providing stable and predictable income with limited landlord responsibilities. The tenant has recently completed renovations and improvements, demonstrating long-term commitment to the sites. The portfolio is being offered as a package sale and delivers a 10% capitalization rate. The property at 1816 Lake Rd N, Hamlin, NY 14464 has a size of 8125 square feet. The seller is planning retirement.
Key Highlights
- 10% capitalization rate: attractive return on investment for strong cash flow.
- NN (double net) leases: stable, predictable income.
- Two‑property portfolio: includes locations in Hamlin and Eden, New York.
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
$78,914
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
8.77%
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%
$1,578,280
$1.6M
Cap Rate 7%
$1,127,343
$1.1M
Cap Rate 9%
$876,822
$876.8K
Market Conditions
NOI Build-Up for 8,125 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
$121.9K $15.00/SF
− Vacancy
−$9.1K −$1.13/SF
EGI
$112.7K $13.88/SF
− OpEx
−$33.8K −$4.16/SF
NOI
$78.9K $9.71/SF
Area
Monroe County, NY
Vacancy
7.50%
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%
$1,578,280
Cap Rate 7%
$1,127,343
Cap Rate 9%
$876,822
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $109,183 @ 7.0% cap · market cap 12.13%
Second Best
Retail
$1.13M
$986.4K – $1.32M
NOI $78,914 @ 7.0% cap · market cap 8.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Dollar Tree
Shops & Services
4,824 visits/mo
0.4 miles
Mark's Pizzeria
Dining
1,892 visits/mo
0.4 miles
Demographics for 14464, NY
7,065
Population
2,907
Households
2.4
Avg Household Size
42
Median Age
26%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
235
Density / Sq Mi
$75,583
Median Household Income
$41,233
Median Earnings
$916
Median Rent
$142,300
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?
Grocery and convenience store - Two Dollar General properties in New York with 10% cap.
Where is this grocery and convenience store located?
The property is located at 1816 Lake Rd N Hamlin, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 10% capitalization rate: attractive return on investment for strong cash flow.; NN (double net) leases: stable, predictable income.; Two‑property portfolio: includes locations in Hamlin and Eden, New York.
