Dollar General Store in Grand
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10090 Hwy 188, Grand Bay, AL
9,002 SF Dollar General with Absolute NNN Lease.
Property Size9,002 SF
Lot Size1.29 Acres
Price / SF$154.67
Days on Market880
Property Features for 10090 Hwy 188
General Information
Standard status
Active
Size
9,002 SF
Lot size
1.29 Acres
Property subtype
RETAIL
Listing Agency:
Exclusive Realty
(248) 219-8080
Listed By:
Steve Sagmani · License #6502426558
(248) 833-6601
Source:
Moodyscre
Added: Apr 22, 2024
Changed: Sep 10
Last Checked: Sep 16 at 4:28PM
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 Exclusive Realty
Investment Insights
Based on property information with market context.
This 9,002-square-foot Dollar General store is located in Grand Bay, Alabama. The property features an Absolute NNN Lease with zero landlord responsibilities. The Dollar General lease is corporately guaranteed by Dollar General, Inc., which holds a credit rating of “BBB” and is classified as investment grade. This offering represents an opportunity for a 1031 Exchange buyer. The investment offers continued success due to the financial strength and profitability of the tenant.
Key Highlights
- Absolute NNN Lease with zero landlord responsibilities.
- Corporately guaranteed lease by Dollar General, Inc.
- Dollar General, Inc. credit rating of “BBB” (investment grade).
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
$119,153
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
8.56%
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%
$2,383,060
$2.4M
Cap Rate 7%
$1,702,186
$1.7M
Cap Rate 9%
$1,323,922
$1.3M
Market Conditions
NOI Build-Up for 9,002 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
$178.2K $19.80/SF
− Vacancy
−$8.0K −$0.89/SF
EGI
$170.2K $18.91/SF
− OpEx
−$51.1K −$5.67/SF
NOI
$119.2K $13.24/SF
Area
Mobile County, AL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,383,060
Cap Rate 7%
$1,702,186
Cap Rate 9%
$1,323,922
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.99M
NOI $119,153 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,256 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 99%
Dining 1%
Dollar General
Shops & Services
4,365 visits/mo
0.1 miles
Clarke's
Dining
63 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - 9,002 SF Dollar General with Absolute NNN Lease.
Where is this storefront property located?
The property is located at 10090 Hwy 188 Grand Bay, AL.
What is the asking price?
The asking price for this property is $1,392,328.
What are key features of this property?
This property features: Absolute NNN Lease with zero landlord responsibilities.; Corporately guaranteed lease by Dollar General, Inc.; Dollar General, Inc. credit rating of “BBB” (investment grade).
