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110 State St Herkimer, NY 13350

Sponsored
For Sale
$2,000,000

Dollar General & Additional Building, High Traffic

Property size:
13,798 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional investment opportunity presents a fee-simple ownership of a 13,798 square foot retail property in Herkimer, NY. The property boasts two buildings situated on a 1.09-acre lot, featuring a Dollar General store as the anchor tenant. The Dollar General lease, a single-tenant, double net (NN) agreement, has approximately 2.5 years remaining on the base term with four, three-year lease options, each including rent bumps. The property also includes an additional building currently housing other businesses. Built in 2002 and renovated in 2012, the property offers 24 parking spaces and enjoys a prime location on a high-traffic section of State Street, with over 23,000 vehicles passing daily. The strong demographics of the area, with over 26,000 people within a 5-mile radius and an average annual household income exceeding $63,000, contribute to the property's significant potential. The property's location within a thriving retail corridor, near national brands like Lowe's and McDonald's, further enhances its value. This presents a compelling value-add opportunity, with potential for future development or owner-operator use. The asking price is $2,000,000. The property's current net operating income is $59,884. This is a Class A property with excellent visibility and strong tenant occupancy.

Property Features for 110 State St

General Information

Property type
Individual retail properties
Square Feet
13,798 SF
Class
A
Lot Size
47,480 SF

Building Details

Year Built/Renovated
2002/2012
Buildings
2
Stories
1
Units
2

HighLights

  • Fee‑simple ownership of a 13,798 SF retail property in Herkimer, NY, with a Dollar General as the anchor tenant.
  • Dollar General's NN lease has ~2.5 years remaining with four, three‑year options, including rent increases.
  • Additional building with existing tenants, plus 24 parking spaces on a 1.09‑acre lot.
  • Prime location on high‑traffic State Street (23,000+ vehicles daily), near Lowe's and McDonald's.
  • Strong demographics: 26,000+ people within 5 miles, average household income exceeding $63,000.
  • $2,000,000 asking price, current NOI of $59,884.
Property Profile Location Intelligence

Current Use by Public Records

Dollar General Dollar Store Western Union Money Transfer Service

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Herkimer
County
Herkimer
State
New York
Longitude
-74.9847689
Latitude
43.0254778

FAQs

What type of property is this?
Individual retail property - Dollar General & Additional Building, High Traffic
Where is this individual retail property located?
The property is located at 110 State St Herkimer, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Fee-simple ownership of a 13,798 SF retail property in Herkimer, NY, with a Dollar General as the anchor tenant.; Dollar General's NN lease has ~2.5 years remaining with four, three-year options, including rent increases.; Additional building with existing tenants, plus 24 parking spaces on a 1.09-acre lot.
More about this property
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