A group of out-of-state investors has bought a Dollar General location in Monroe for $2.63 million, according to property records and the listing broker for the property. Nibur 12A Briarcliff Manor LLC and Nibur 12B Briarcliff Manor LLC acquired the 7,428-square-foot, one-story property, at 685 Main St., property records show. The buyers of the single-tenant […]
A group of out-of-state investors has bought a Dollar General location in Monroe for $2.63 million, according to property records and the listing broker for the property.
Nibur 12A Briarcliff Manor LLC and Nibur 12B Briarcliff Manor LLC acquired the 7,428-square-foot, one-story property, at 685 Main St., property records show. The buyers of the single-tenant building are a group of Boston-area investors, said Daniel De Sa, managing partner with HMX Realty Advisors who helped broker the deal.
He said single-tenant retail properties typically have out-of-state buyers because they offer stable, triple-net lease deals in which the tenants pay for the property taxes, building insurance and common-area maintenance. Dollar General signed a 15-year lease for the building soon after it was built last year, he said.
The seller was 686 DG Monroe LLC, controlled by Raymond Rizio, of Fairfield.
The building, which sits on an acre, is appraised at $1.45 million and assessed at $1.01 million.
