68 Main St Binghamton, NY 13905-2915

Property Details for 68 Main St

Year built

1970

Lot size

0.78 lot acres

Property size

10,880 SF

Property type

Community centers

APN

030200 160.39-2-7

APU

302001603927

Description

This exceptional investment opportunity presents a 10,818 square foot Dollar General convenience store located at 68 Main St, Binghamton, NY 13905. The property sits on a 0.78-acre lot and boasts a brand new 10-year Double Net (NN) lease commencing October 2024, minimizing landlord responsibilities. The lease includes four, 5-year renewal options with a 10% rental increase in each. Built in 1970 and extensively renovated in 2024, the single-story building features a new roof with a transferable 25-year warranty. The property benefits from excellent visibility along Main Street, a large parking lot, and a pylon sign. The asking price is $1,549,300, representing a price per square foot of $143.22 and an 8.00% cap rate. The property is currently 100% occupied by Dollar General, an investment-grade tenant with a S&P credit rating of 'BBB', providing a strong corporate guarantee. This is a turnkey investment with significant long-term potential. The property's location in Broome County offers easy access to major transportation routes and a thriving local market. This is a rare opportunity to acquire a high-performing retail asset with a secure, long-term lease and substantial upside potential.