Corporate-Guaranteed NNN
For Sale
Contact for pricing
1011 N 15th St, Immokalee, FL 34142
Freestanding retail asset occupied by Dollar General under a long-term absolute NNN lease.
Property Size9,170 SF
Price / SF$235.01
Days on Market126
Property Features for 1011 N 15th St
General Information
Standard status
Active
Size
9,170 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$145,500
Building Details
Year Built
2011
Tenancy
Single
Listing Agency:
Vero Capital Group
Listed By:
Charles Moody · License #BK3404499
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 2:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vero Capital Group
Investment Insights
Based on property information with market context.
The property is a 9,170-square-foot retail building constructed in 2011 and occupied by Dollar General. The store has operated at the site since 2012, providing an established operating history for the location.
Located at 1011 N 15th Street in Immokalee, Florida, the asset is leased on an NNN basis, with the tenant responsible for real estate taxes, insurance, and maintenance. Dollar General Corporation provides the lease guarantee, and an early renewal has extended the lease term through 2032.
Located at 1011 N 15th Street in Immokalee, Florida, the asset is leased on an NNN basis, with the tenant responsible for real estate taxes, insurance, and maintenance. Dollar General Corporation provides the lease guarantee, and an early renewal has extended the lease term through 2032.
Key Highlights
- 9,170‑square‑foot retail building constructed in 2011
- Dollar General has operated at the property since 2012
- Lease extended through 2032 following an early renewal option
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$181,050
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,621,000
$3.6M
Cap Rate 7%
$2,586,429
$2.6M
Cap Rate 9%
$2,011,667
$2.0M
Market Conditions
NOI Build-Up for 9,170 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$247.6K $27.00/SF
− Vacancy
−$6.2K −$0.68/SF
EGI
$241.4K $26.33/SF
− OpEx
−$60.4K −$6.58/SF
NOI
$181.1K $19.74/SF
Area
Collier County, FL
Vacancy
2.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,621,000
Cap Rate 7%
$2,586,429
Cap Rate 9%
$2,011,667
Alternative Uses
Best Use
Specialty Retail
$2.59M
$2.26M – $3.02M
NOI $181,050 @ 7.0% cap · market cap 8.40%
Second Best
Retail
$1.60M
$1.40M – $1.86M
NOI $111,660 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$3.68M
$3.22M – $4.29M
NOI $257,624 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
175k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 36%
Groceries 16%
Winn-Dixie
Groceries
28,292 visits/mo
0.1 miles
Burger King
Dining
15,832 visits/mo
0.2 miles
Dollar Tree
Shops & Services
15,111 visits/mo
0.1 miles
Dollar General
Shops & Services
13,160 visits/mo
0.1 miles
Family Dollar
Shops & Services
11,921 visits/mo
0.5 miles
Demographics for 34142, FL
31,327
Population
10,002
Households
3.1
Avg Household Size
30
Median Age
15%
College-Educated
63%
High-School Grad
625.9 sq mi
ZIP Area
50
Density / Sq Mi
$57,656
Median Household Income
$27,809
Median Earnings
$989
Median Rent
$296,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding retail asset occupied by Dollar General under a long-term absolute NNN lease.
Where is this nnn property located?
The property is located at 1011 N 15th St Immokalee, FL.
What is the asking price?
The asking price for this property is $2,155,000.
What are key features of this property?
This property features: 9,170‑square‑foot retail building constructed in 2011; Dollar General has operated at the property since 2012; Lease extended through 2032 following an early renewal option
