Dollar General Absolute NNN
For Sale
$1,428,000
102 Jung Sun Ln, Chaparral, NM 88317
Corporate-guaranteed occupancy with renewal options and scheduled rent increases supports a low-management ownership structure.
Property Size9,206 SF
Price / SF$155.12
Days on Market146
Property Features for 102 Jung Sun Ln
General Information
Standard status
Active
Size
9,206 SF
Property subtype
Discount
Lease Type
Absolute Net
Net Operating Income
$97,068
Additional Details
Cap Rate
5.15%
Traffic Count
3,314 vehicles/day
Amenities
Absolute Net Dollar General Built-to-Suit in 2020 and Leased Through October 2035 with Three Five-Year Options
Just North of Meta's Planned 1GW Data Center Campus
Strong Placer.ai Rankings: Top 95th Percentile Nationwide
Corporate Guarantee - Over 20,000 Locations and Growing
Building Details
Building Size
9,206 SF
Year Built
2020
Buildings
1
Tenancy
Single
Listed By:
Jeff Rowlett · License #License(s): WI: 74743-94, IL: 471.016866
(262) 364-1924
Source:
Marcusmillichap
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 2 at 1:29PM
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 Jeff Rowlett
Investment Insights
Based on property information with market context.
This 9,026 SF Dollar General store in Chaparral, New Mexico, has operated since October 2020. The property is subject to a 15-year absolute NNN lease, placing landlord responsibilities with the tenant under the stated lease structure. Dollar General Corporation provides the corporate guarantee and carries a BBB credit rating, identified as investment grade in the property information.
The lease includes three five-year renewal options, each with a 10% rental rate increase. The store is positioned on Jung Sun Lane, which records 3,314 cars per day, near the Patriot Freeway with reported traffic of 8,545 cars per day. The surrounding trade area has a 10-mile population of 103,891 and a 1-mile population growth rate of 8.10%. The offering includes fee simple ownership and may be considered for a 1031 exchange.
The lease includes three five-year renewal options, each with a 10% rental rate increase. The store is positioned on Jung Sun Lane, which records 3,314 cars per day, near the Patriot Freeway with reported traffic of 8,545 cars per day. The surrounding trade area has a 10-mile population of 103,891 and a 1-mile population growth rate of 8.10%. The offering includes fee simple ownership and may be considered for a 1031 exchange.
Key Highlights
- 9,026 SF Dollar General store operating since October 2020
- 15‑year absolute NNN lease with zero landlord responsibilities
- Corporate guarantee from Dollar General Corporation, rated BBB
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
$84,304
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
5.90%
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%
$1,686,080
$1.7M
Cap Rate 7%
$1,204,343
$1.2M
Cap Rate 9%
$936,711
$936.7K
Market Conditions
NOI Build-Up for 9,206 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
$121.5K $13.20/SF
− Vacancy
−$9.1K −$0.99/SF
EGI
$112.4K $12.21/SF
− OpEx
−$28.1K −$3.05/SF
NOI
$84.3K $9.16/SF
Area
Dona Ana County, NM
Vacancy
7.50%
Lease Rate
$13.20 /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%
$1,686,080
Cap Rate 7%
$1,204,343
Cap Rate 9%
$936,711
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.41M
NOI $84,304 @ 7.0% cap · market cap 5.90%
Second Best
Retail
$1.07M
$933.8K – $1.25M
NOI $74,701 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,770 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3,314 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
8,796 visits/mo
0.2 miles
Demographics for 88317, NM
1,953
Population
2,983
Households
0.7
Avg Household Size
55
Median Age
28%
College-Educated
98%
High-School Grad
272.6 sq mi
ZIP Area
7
Density / Sq Mi
$72,083
Median Household Income
$42,197
Median Earnings
$922
Median Rent
$206,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate-guaranteed occupancy with renewal options and scheduled rent increases supports a low-management ownership structure.
Where is this nnn property located?
The property is located at 102 Jung Sun Ln Chaparral, NM.
What is the asking price?
The asking price for this property is $1,428,000.
What are key features of this property?
This property features: 9,026 SF Dollar General store operating since October 2020; 15‑year absolute NNN lease with zero landlord responsibilities; Corporate guarantee from Dollar General Corporation, rated BBB
