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    Cliffside Dollar General Investment Opportunity Title is generated by Realmo AI

    118 DRUG STORE Street, Cliffside, NC 28114

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    For Sale
    $1,199,999

    SINGLE_FAMILY - Cliffside, NC

    Type:Retail
    Lot size:
    1.31 Acres
    Added:
    May 27, 2025
    Days on Market:
    360
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for 118 DRUG STORE Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Parking
    41
    Parking features
    Parking Lot
    Security features
    Security System
    Standard status
    Active
    APN
    1646804
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Description
    DB1006 DP248

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2009
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Metal
    Roof type
    Metal

    We can help!

    Listing Contact
    Donald Peeler

    Listing agent Donald Peeler License #122980

    Listing office RE/MAX Select 500 W Warren Street, Shelby, NC

    Listing date May 27, 2025

    MLS# 4264427 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Corporate guaranteed NNN lease until 2055 with options and increases.
    • Very high annual sales Dollar General store; 2024 gross sales were $1,812,232.00.
    • Priced at $1,199,000 creating a 7.28% Cap Rate.
    • Projected to generate $3,081,148.00 in NNN lease payments.
    • Property is very well maintained.
    • Located on a 1.31 acre fully developed lot.

    Overview

    This is a well-maintained Dollar General store located in Cliffside, North Carolina. Constructed in 2009, the property includes a corporate-guaranteed NNN lease extending to 2055, with five 5-year options to renew until 2055, each including 10% rent increases. The store is situated on a 1.31-acre fully developed lot. The gross annual sales for the year 2024 were $1,812,232. The building size is 8865 square feet. The annual lease payment from 2025 through 2030 is $87,372.00. From 2030 through 2035, the annual lease payment is $90,680.40. The annual lease payment from 2035 through 2040 is $99,748.44. From 2040 through 2045, the annual lease payment is $109,723.32. The annual lease payment from 2045 through 2050 is $120,695.64. From 2050 through 2055, the annual lease payment is $132,765.24. This property is projected to generate $3,081,148.00 in NNN lease payments.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Cliffside
    County
    Rutherford
    State
    North Carolina
    Longitude
    -81.767578
    Latitude
    35.242045

    FAQs

    What type of property is this?
    Grocery and convenience store - Well-maintained Dollar General with corporate lease and high annual sales.
    Where is this grocery and convenience store located?
    The property is located at 118 DRUG STORE Street Cliffside, NC.
    What is the asking price?
    The asking price for this property is $1,199,999.
    What are key features of this property?
    This property features: Corporate guaranteed NNN lease until 2055 with options and increases.; Very high annual sales Dollar General store; 2024 gross sales were $1,812,232.00.; **Priced at $1,199,000 creating a 7.28% Cap Rate.**
    (704) 913-1033
    We can help!
    Listing Contact
    Donald Peeler
    Real Estate License ID: 122980
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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