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Dollar General Strip | State College, PA 3283 W College Ave 19,776 SF 54% Leased Retail Building State College, PA 16801 $5,402,538 CAD ($273.19 CAD/SF) 6.75% Cap Rate

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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.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Storefront Retail/Office

Building Size

19,776 SF

Building Class

Year Built

2023

Price

$5,402,538 CAD

Price Per SF

$273.19 CAD

Cap Rate

6.75%

NOI

$364,721 CAD

Percent Leased

54%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.12

Lot Size

3.69 AC

Zoning

C - Commercial

Parking

111 Spaces (5.61 Spaces per 1,000 SF Leased)

Frontage

395’ on W. College Ave

Signage

Monument Signage

Air Conditioning

Smoke Detector

Major Tenants

Retailer
10,724 SF
-
Triple Net
Dec 2032

Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business created by J.L. Turner and Cal Turner. The company later evolved into a discount retailer and now focuses on everyday essentials, including food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, and seasonal décor, alongside private brands and well-known national brands. Dollar General also operates DG Market, DGX, and pOpshelf formats in the United States and Mi Súper Dollar General stores in Mexico, while continuing to build a broad convenience-oriented general merchandise business.