Hemlock Retail for Sale - Livingston County
Marcus & Millichap is pleased to present a net leased investment opportunity consisting of 14 newer construction, corporate-guaranteed Dollar General stores across seven states: New York, Pennsylvania, Illinois, Iowa, Missouri, Minnesota, and Kentucky. These properties feature absolute NNN leases with zero landlord responsibilities, providing passive income streams backed by Dollar General's investment-grade credit rating. The stores are strategically located in growing communities within established metropolitan statistical areas and rural markets.
The portfolio emphasizes locations in small towns and rural areas with strong economic drivers such as manufacturing, healthcare, education, and retail trade. For instance, the Hemlock, NY property is situated near Hemlock Lake, benefiting from proximity to Rochester and educational institutions like SUNY Geneseo, with a 5-mile population of 30,000+ and AHHI of $92,000+. The Lansing, NY store, near Ithaca and Cornell University, serves a vibrant economy with a 13.9% population growth since 2000, a 5-mile population of 40,000+, and AHHI exceeding $109,000.
In Pennsylvania, the properties in Josephine, Hopewell, and Kittanning cater to rural demographics with economies driven by retail trade (up to 20%), education, and manufacturing. Kittanning, for example, has a 5 MI population of 17,000+ and AHHI of $66,000+, with low unemployment at 3.6%.
Iowa's Northwood and Belle Plaine stores are in communities with manufacturing leading employment, low unemployment (about 2.5%), and growth potential near colleges like Riverland Community College. In Missouri, Webb City and Harrisonville show strong population growth (36.5% and 11.6% since 2000). The Litchfield, MN property benefits from a manufacturing-heavy economy and proximity to St. Cloud State University. Kentucky's Topmost, Breeding, and Manchester stores serve rural markets near educational hubs like Hazard Community and Technical College.
These properties offer attractive cap rates with corporate NNN leases featuring 10% rent increases every option term, ensuring built-in growth. With WALT of just under 11 years remaining on leases (expiring 2036–2038), the portfolio underscores Dollar General's commitment to serving underserved rural markets.
Dollar General Corporation (NYSE: DG), headquartered in Goodlettsville, Tennessee, is a leading discount retailer with over 20,388 stores across 48 states. Backed by an investment-grade credit rating (BBB from S&P, Baa2 from Moody's), the company reported $40.61 billion in revenue for fiscal 2025 and employs 194,000+ people. Recent results show 4.6% net sales growth and 43.8% EPS increase in Q3 2025, making it a reliable tenant for investors. Founded in 1939, Dollar General focuses on everyday essentials at competitive prices, thriving in economic cycles and expanding in high-demand areas like these.
BROKERS OF RECORD:
NY: John Horowitz | 260 Madison Ave., 5th Floor, New York, NY 10016 | P: 212-430-5261 | Lic.# 10311204479
PA: Timothy Stephenson, Jr. | 2005 Market St., Suite 1510, Philadelphia, PA 19103 | Lic. #: RMR006104, Firm Lic. #: RB062197C | P: (215) 531-7000
IL: Steven Weinstock-Designated Managing Broker | Steven.Weinstock@marcusmillichap.com | (630) 570-2200 | Lic#:471.011175
IA: Jon Ruzicka | 1601 Utica Avenue South, Suite 301, Minneapolis, MN 55416 | P: (952) 852-9700 | Lic #: B63379000
MO: David Saverin | 7800 Forsyth Blvd., Ste. 710|St. Louis, MO 63105|P: (314) 889-2500 | Lic #: 2008013520
MN Jon Ruzicka | 1601 Utica Avenue South, Suite 30, Minneapolis, MN 55416 | P: (952) 852-9700 | Lic #: 40583288
KY: Grant Fitzgerald | 9300 Shelbyville Rd., Ste. 350 Louisville, KY 40222 | P: (502) 329-5900 | Lic.# 286261
