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Dollar General Strip | State College, PA 3283 W College Ave 19,776 SF 55% Leased Retail Building State College, PA 16801 $5,299,094 CAD ($267.96 CAD/SF) 6.75% Cap Rate
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
$5,299,094 CAD
Price Per SF
$267.96 CAD
Cap Rate
6.75%
NOI
$357,738 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
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 10,724 SF
- -
- Triple Net
- Dec 2032
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 10,724 SF | - | Triple Net | Dec 2032 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
| Space | Size | Space Use | Position | Available |
| 1st Floor | 9,052 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 9,052 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 9,052 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Property Taxes
| Parcel Number | 24-0004-067F-0000 | Improvements Assessment | $846,390 CAD |
| Land Assessment | $252,979 CAD | Total Assessment | $1,099,369 CAD |
Property Taxes
Parcel Number
24-0004-067F-0000
Land Assessment
$252,979 CAD
Improvements Assessment
$846,390 CAD
Total Assessment
$1,099,369 CAD
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Dollar General Strip | State College, PA | 3283 W College Ave
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