Building Details

Year Built 2006

Tenancy Single

Listing Agency: MMG

Listed By: R. Jeffrey Burgfechtel · License #727734

Source: Crexi

Added: Apr 11 Changed: Oct 2 Last Checked: Oct 4 at 7:51AM

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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 MMG

Investment Insights

Based on property information with market context.

This offering presents a Dollar General store in Mexico, New York, with a building size of 9,014 SF. The property is structured as an NNN lease, designed to keep landlord responsibilities minimal.

The lease includes three five-year options and is corporately guaranteed by Dollar General Corp. The tenant is a Dollar General store, and the current arrangement is intended to provide continued operating stability to a new owner under the existing lease terms.

The property is being offered for sale as a 1031 exchange opportunity.

Key Highlights

• 9,014 SF Dollar General store located in Mexico, New York
• NNN lease with minimal landlord responsibilities
• Lease is corporately guaranteed by Dollar General Corp.

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

$87,045

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

8.97%

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%

$1,740,900 $1.7M

Cap Rate 7%

$1,243,500 $1.2M

Cap Rate 9%

$967,167 $967.2K

Market Conditions

NOI Build-Up for 9,014 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

$129.8K $14.40/SF

− Vacancy

−$5.5K −$0.60/SF

EGI

$124.3K $13.80/SF

− OpEx

−$37.3K −$4.14/SF

NOI

$87.0K $9.66/SF

Area

Oswego County, NY

Vacancy

4.20%

Lease Rate

$14.40 /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%

$1,740,900

Cap Rate 7%

$1,243,500

Cap Rate 9%

$967,167

Alternative Uses

Best Use

Specialty Retail

$1.67M

$1.46M – $1.94M (±1% cap)

NOI $116,578 @ 7.0% cap · market cap 12.02%

Second Best

Retail

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $87,045 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$1.80M

$1.57M – $2.10M (±1% cap)

NOI $125,856 @ 7.0% cap · market cap 12.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

FedEx OnSite Postal Service Western Union Bank Dollar General Discount Store

Suggested Use

Top Pick Real Estate Agency Hair Salon (Bike/Boat/Book/etc) Store Auto Repair Shop Nail Salon Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

Explore this area Business Placement

Demographics for 13114, NY

6,596

Population

3,351

Households

2

Avg Household Size

42

Median Age

18%

College-Educated

87%

High-School Grad

63.0 sq mi

ZIP Area

105

Density / Sq Mi

$73,328

Median Household Income

$37,403

Median Earnings

$811

Median Rent

$152,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this 1031 exchange properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

1031 exchange property - 9,014 SF Dollar General store offered for sale with an NNN lease and 3 five-year options.

Where is this 1031 exchange property located?

The property is located at 3391 Main Street Mexico, NY.

What is the asking price?

The asking price for this property is $970,000.

What are key features of this property?

This property features: 9,014 SF Dollar General store located in Mexico, New York; NNN lease with minimal landlord responsibilities; Lease is corporately guaranteed by Dollar General Corp.