Log In/Sign Up
Your email has been sent.
1322 W State St
Olean, NY 14760
Retail Property For Sale
Investment Highlights
- Tenant pays utilities, taxes, common area maintenance, and insurance
- 1,900,000 in annual sales
- Corporate guaranty on lease
- Over $1,000,000 in building renovations—roof, HVAC, and interior
Executive Summary
Donovan Real Estate Services is pleased to offer the opportunity to acquire the net leased Dollar General investment property located in Olean, NY.
The tenant recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at
the beginning of each option period.
Tenant pays utilities, taxes, common area maintenance, and insurance.
Tenant is responsible for interior, non-structural elements, janitorial, snow, and ice removal.
Tenant maintains parking and HVAC; Landlord may share replacement cost of HVAC based on amortization, and Landlord covers capital repairs
to parking or those reimbursed by insurance
Landlord is responsible for roof, structure, foundations, exterior walls, and underground systems.
Corporate guaranty on lease
The tenant recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at
the beginning of each option period.
Tenant pays utilities, taxes, common area maintenance, and insurance.
Tenant is responsible for interior, non-structural elements, janitorial, snow, and ice removal.
Tenant maintains parking and HVAC; Landlord may share replacement cost of HVAC based on amortization, and Landlord covers capital repairs
to parking or those reimbursed by insurance
Landlord is responsible for roof, structure, foundations, exterior walls, and underground systems.
Corporate guaranty on lease
Property Facts
Sale Type
Investment NNN
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,440 SF
Building Class
C
Year Built
1940
Price
$2,044,692 CAD
Price Per SF
$178.73 CAD
Cap Rate
7.25%
NOI
$148,236 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.41
Lot Size
0.64 AC
Opportunity Zone
Yes
Zoning
GC
Parking
35 Spaces (3.06 Spaces per 1,000 SF Leased)
Frontage
181’ on North 13th Street
Amenities
- Air Conditioning
Property Taxes
| Parcel Numbers | Improvements Assessment | $591,910 CAD | |
| Land Assessment | $139,687 CAD | Total Assessment | $731,597 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$139,687 CAD
Improvements Assessment
$591,910 CAD
Total Assessment
$731,597 CAD
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
