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3283 W College Ave
State College, PA 16801
Dollar General Strip | State College, PA · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Prime State College location in “Happy Valley,” near Penn State’s main campus and positioned along West College Avenue.
- Dollar General lease is corporately guaranteed by investment-grade Dolgencorp (NYSE: DG).
- Adjacent to new 36-unit luxury housing and near major auto dealerships, creating a strong built-in customer base.
- Orchard Square is a Dollar General–anchored retail strip with value-add upside through 9,052 SF of vacant space.
- Modern 2021 construction with strong visibility and shared access with a new Sheetz at a signalized intersection.
- Dense and affluent submarket with 92,000+ residents nearby and strong regional draw from Penn State and major event venues.
EXECUTIVE SUMMARY
CBRE is pleased to exclusively OFFER Orchard Square, a 19,776 SF Dollar General–anchored retail strip in State College, PA, home to Penn State University and one of Pennsylvania’s most dynamic and high-profile retail markets. The property benefits from year-round demand generated by 88,000+ students and 7,800+ faculty, strong regional access via I-99 and Bus. 322, and a dense, affluent consumer base with average household incomes of $134K+ within one mile.
The center is anchored by Dollar General under a 10-year NNN lease with two 5-year options and 10% increases, backed by an investment-grade corporate guarantee (NYSE: DG, BBB). Dollar General occupies 54% of the GLA, with 9,052 SF of vacant space offering immediate leasing upside, supported by conservative underwriting at $12 PSF. A passive ground lease with Stuckey Automotive provides additional income with zero landlord obligations.
Delivered in 2021, the property features modern construction, efficient layouts, and ample parking on 3.689 acres. It is strategically positioned at a signalized intersection along West College Avenue, adjacent to a high-performing Sheetz and directly in front of Orchard View, a new 36-unit luxury residential community—creating built-in demand for both Dollar General and future tenants.
The center is anchored by Dollar General under a 10-year NNN lease with two 5-year options and 10% increases, backed by an investment-grade corporate guarantee (NYSE: DG, BBB). Dollar General occupies 54% of the GLA, with 9,052 SF of vacant space offering immediate leasing upside, supported by conservative underwriting at $12 PSF. A passive ground lease with Stuckey Automotive provides additional income with zero landlord obligations.
Delivered in 2021, the property features modern construction, efficient layouts, and ample parking on 3.689 acres. It is strategically positioned at a signalized intersection along West College Avenue, adjacent to a high-performing Sheetz and directly in front of Orchard View, a new 36-unit luxury residential community—creating built-in demand for both Dollar General and future tenants.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
19,776 SF
Year Built
2023
Price
$5,451,078 CAD
Price Per SF
$275.64 CAD
Cap Rate
6.75%
NOI
$367,998 CAD
Percent Leased
55%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
3.69 AC
Parking
111 Spaces (5.61 Spaces per 1,000 SF Leased)
Frontage
395’ on W. College Ave
AMENITIES
- Signage
- Monument Signage
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 24-004-067F-0000 | Improvements Assessment | $869,815 CAD |
| Land Assessment | $259,981 CAD | Total Assessment | $1,129,796 CAD |
PROPERTY TAXES
Parcel Number
24-004-067F-0000
Land Assessment
$259,981 CAD
Improvements Assessment
$869,815 CAD
Total Assessment
$1,129,796 CAD
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