569 Erie St Mercer, PA 16137
- Commercial real estate
- 3.40 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 569 Erie St
- Lot size
- 3.40 lot acres
- Property type
- Commercial real estate
- APN
- 65 582 003
- APU
- 65582003
Description
This exceptional investment opportunity presents a newly constructed, 10,566 square foot Dollar General store located at 569 S Erie St, Mercer, PA 16137. The property boasts a 15-year absolute NNN lease, commencing January 31, 2024, and expiring January 31, 2039, with a substantial remaining term of 14.2 years. The lease includes 5% rent increases every five years, minimizing landlord responsibilities and ensuring consistent income growth. The property sits on a 1.67-acre lot and benefits from a strong location with a population of over 9,360 within a 5-mile radius and an average daily traffic count of 6,358. The asking price is $1,869,390, representing a price per square foot of $176.93 and a 6.50% cap rate based on a current NOI of $121,510. The tenant, Dollar General, is investment grade rated BBB by Standard & Poor's, providing significant financial security. The lease offers three five-year renewal options, further enhancing the long-term value of this investment. This single-tenant, single-story building is zoned commercial and was built in 2024. The property is currently 100% occupied. This is a truly passive investment opportunity with minimal landlord responsibilities and significant upside potential. The property is offered for sale by owner.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mercer
- County
- Mercer
- State
- Pennsylvania
- Longitude
- -80.2392
- Latitude
- 41.2178
- CBSA code
- 49660
- CBSA name
- YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA
