Plattsburgh Dollar General Investment
For Sale
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4989 S Catherine St, Plattsburgh, NY 12901
NNN Dollar General in Plattsburgh, NY with over 8 years remaining.
Property Size9,026 SF
Price / SF$185.56
Days on Market200
Property Features for 4989 S Catherine St
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Zoning
B1
Building Details
Year Built
2013
Listing Agency:
Fortis Net Lease
(248) 419-3810
Listed By:
Bryan Bender · License #MI 6501319610
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 23 at 12:53PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
This 9,026 square foot Dollar General store is located in Plattsburgh, New York. The property operates under an Absolute NNN Lease, assigning zero landlord responsibilities. The tenant, Dollar General, recently extended their lease term, which now has 8.25 years remaining. The lease incorporates 5% rental rate increases at each of the four 5-year renewal options. The lease is corporately guaranteed by Dollar General Corporation, which holds a credit rating of “BBB”, classified as Investment Grade. The store has been open and operating since September 2013. It ranks as the 2nd most foot trafficked store within a 15 mile radius and performs in the top 25% of all DG stores Nationwide. The store is positioned on S Catherine Street, which sees 11,555 cars per day. The location benefits from a 5-mile population of 29,804 and a 1-mile average household income of $53,974 per year. The store is located near residential homes and is 0.7 miles from the State University of New York Plattsburgh campus, which has 4,500 students and 900 staff. The property is suitable for a 1031 exchange buyer or a passive investor.
Key Highlights
- Absolute NNN Lease with zero landlord responsibilities.
- Corporately guaranteed lease by Dollar General Corporation (Investment Grade Credit Rating of "BBB").
- Lease extended with 8.25 years remaining and 5% rental rate increases at each of the 4 (5 year) options to renew.
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
$116,733
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
6.97%
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%
$2,334,660
$2.3M
Cap Rate 7%
$1,667,614
$1.7M
Cap Rate 9%
$1,297,033
$1.3M
Market Conditions
NOI Build-Up for 9,026 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
$162.5K $18.00/SF
− Vacancy
−$6.8K −$0.76/SF
EGI
$155.6K $17.24/SF
− OpEx
−$38.9K −$4.31/SF
NOI
$116.7K $12.93/SF
Area
Clinton County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,334,660
Cap Rate 7%
$1,667,614
Cap Rate 9%
$1,297,033
Alternative Uses
Best Use
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,733 @ 7.0% cap · market cap 6.97%
Second Best
Retail
$1.58M
$1.38M – $1.85M
NOI $110,771 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,166 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,291 visits/mo
0.1 miles
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Yando's Big M Supermarket — 14 Skyway Shopping Center, Plattsburgh, NY 12901
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN Dollar General in Plattsburgh, NY with over 8 years remaining.
Where is this grocery and convenience store located?
The property is located at 4989 S Catherine St Plattsburgh, NY.
What is the asking price?
The asking price for this property is $1,674,881.
What are key features of this property?
This property features: Absolute NNN Lease with zero landlord responsibilities.; Corporately guaranteed lease by Dollar General Corporation (Investment Grade Credit Rating of "BBB").; Lease extended with 8.25 years remaining and 5% rental rate increases at each of the 4 (5 year) options to renew.
