95 S Main St Avoca, NY 14809
- Retail space
- 9,100 SF
- 2.03 lot acres
Current Use by Public Records
- Dollar General / Convenience Store / Discount Store
- Western Union / Money Transfer Service
- FedEx OnSite / Mailing Service
Property Details for 95 S Main St
- Year built
- 2016
- Lot size
- 2.03 lot acres
- Property size
- 9,100 SF
- Property type
- Retail space
- APN
- 462201 113.12-01-050.113
- APU
- 4622011131201050113
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,191 square-foot Dollar General store in Avoca, New York. Located at 95 S Main St, this single-story building, constructed in 2016, sits on a 2.03-acre lot and boasts a 100% occupancy rate. The property is secured by a 15-year absolute NNN lease with Dollar General Corporation, commencing January 18, 2017, and expiring January 31, 2032, leaving 7.2 years remaining. The lease includes four five-year renewal options, each with a 10% rent increase. The tenant, Dollar General, holds a "BBB" investment-grade credit rating, providing significant financial security. The property generates a substantial net operating income (NOI) of $109,271, resulting in an attractive 8.10% cap rate and a price per square foot of $146.78. The asking price is $1,349,025. This strategically positioned property benefits from high visibility on S Main Street, experiencing 3,932 vehicles per day. The surrounding area demonstrates strong demographics, with a 10-mile population of 17,436 and an average household income of $59,834. This presents an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-performing retail investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,765,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,380,000
- 6.5%
- $1,480,000
- 7%
- $1,500,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,375,000
- Geo Method
- $1,485,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,535,000
- Retail
- $1,300,000
- Mixed-Use
- $1,340,000
- Hospitality
- $1,310,000
- Educational
- $1,630,000
- Residential Income
- $1,590,000
- Energy
- $1,610,000
- Income-Based Land
- $1,295,000
- Food Service
- $1,525,000
Location Insight
- Map
- Local Demand
- City
- Avoca
- County
- Steuben
- State
- New York
- Longitude
- -77.4202
- Latitude
- 42.4013
- CBSA code
- 18500
- CBSA name
- CORNING, NY MICROPOLITAN STATISTICAL AREA
