Building Details

Building Size 7,260 SF

Year Built 2019

Tenancy Single

Listing Agency: Matthews Real Estate Investment Services | Dallas

Listed By: Scotty Latimer · License #790608 (TX) Show Phone

Source: Matthews

Added: Aug 11 Changed: Oct 2 Last Checked: Oct 14 at 7:35PM

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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 Matthews Real Estate Investment Services | Dallas

Investment Insights

Based on property information with market context.

This 7,260-square-foot Dollar General store was completed in 2019 as an upgraded build-to-suit property. The lease is structured as absolute NNN, and the obligation is backed by a corporate guaranty from Dollar General Corporation, which holds a BBB investment-grade rating.

The property is located at 11510 Luthersville Rd in Gay, Georgia, approximately one hour south of Atlanta and 40 miles from Hartsfield-Jackson Atlanta International Airport. A 2026 remodel investment reflects the tenant’s continuing commitment to the location. The nearest dollar store is reported to be more than 9 miles away, while the surrounding 5-mile trade area has annual household income of $82,281 and projected five-year population growth of 10.25%.

Key Highlights

• 7,260‑square‑foot Dollar General store completed in 2019
• Absolute NNN lease structure
• Corporate guaranty from Dollar General Corporation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$102,115

Cap Rate

9.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,042,300 $2.0M

Cap Rate 7%

$1,458,786 $1.5M

Cap Rate 9%

$1,134,611 $1.1M

Market Conditions

NOI Build-Up for 7,260 SF

Gross rent

$159.4K $21.96/SF

− Vacancy

−$13.6K −$1.87/SF

EGI

$145.9K $20.09/SF

− OpEx

−$43.8K −$6.03/SF

NOI

$102.1K $14.07/SF

Area

Meriwether County, GA

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,042,300

Cap Rate 7%

$1,458,786

Cap Rate 9%

$1,134,611

Alternative Uses

Best Use

Specialty Retail

$1.67M

$1.46M – $1.94M (±1% cap)

NOI $116,671 @ 7.0% cap · market cap 10.46%

Second Best

Retail

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,115 @ 7.0% cap · market cap 9.16%

Theoretical Best

Office A

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,061 @ 7.0% cap · market cap 12.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Western Union Bank Dollar General Discount Store

Suggested Use

Top Pick HVAC Service Grocery & Convenience Store Food Market Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 30218, GA

1,892

Population

699

Households

2.7

Avg Household Size

48

Median Age

17%

College-Educated

82%

High-School Grad

65.8 sq mi

ZIP Area

29

Density / Sq Mi

$62,384

Median Household Income

$30,962

Median Earnings

$1,397

Median Rent

$187,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

NNN property - 2019 build-to-suit store with an absolute NNN lease and corporate guaranty.

Where is this nnn property located?

The property is located at 11510 Luthersville Rd Gay, GA.

What is the asking price?

The asking price for this property is $1,115,234.

What are key features of this property?

This property features: 7,260‑square‑foot Dollar General store completed in 2019; Absolute NNN lease structure; Corporate guaranty from Dollar General Corporation