Dollar General NNN Investment
For Sale
Contact for pricing
1258 Road 931, Tupelo, MS
2017 build-to-suit Dollar General with zero landlord responsibilities.
Property Size9,026 SF
Lot Size0.89 Acres
Price / SF$127.91
Days on Market388
Property Features for 1258 Road 931
General Information
Standard status
Active
Size
9,026 SF
Lot size
0.89 Acres
Property subtype
RETAIL
Listing Agency:
Matthews Real Estate Investment Services | Phoenix
(866) 889-0550
Listed By:
Wyatt Wagner
(310) 750-7845
Source:
Moodyscre
Added: Aug 21, 2025
Changed: Sep 4
Last Checked: Sep 11 at 12:36PM
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 | Phoenix
Investment Insights
Based on property information with market context.
This property features a 2017 build-to-suit construction for Dollar General. The lease is an absolute NNN lease, meaning zero landlord responsibilities. The lease is corporately guaranteed by Dollar General Corporation. The surrounding area includes national tenants such as Chevron, The Home Depot, Lowes, Kroger, and Walmart Supercenter. The 5-mile population exceeds 18,673 residents, with an average household income of $71,188.
Key Highlights
- Absolute NNN lease – Zero landlord responsibilities
- Corporately guaranteed lease from Dollar General Corporation
- 2017 build‑to‑suit construction for Dollar General
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
$93,622
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
8.11%
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%
$1,872,440
$1.9M
Cap Rate 7%
$1,337,457
$1.3M
Cap Rate 9%
$1,040,244
$1.0M
Market Conditions
NOI Build-Up for 9,026 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
$135.4K $15.00/SF
− Vacancy
−$10.6K −$1.17/SF
EGI
$124.8K $13.83/SF
− OpEx
−$31.2K −$3.46/SF
NOI
$93.6K $10.37/SF
Area
Lee County, MS
Vacancy
7.80%
Lease Rate
$15.00 /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%
$1,872,440
Cap Rate 7%
$1,337,457
Cap Rate 9%
$1,040,244
Alternative Uses
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,622 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$1.07M
$936.6K – $1.25M
NOI $74,924 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,658 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 2017 build-to-suit Dollar General with zero landlord responsibilities.
Where is this grocery and convenience store located?
The property is located at 1258 Road 931 Tupelo, MS.
What is the asking price?
The asking price for this property is $1,154,538.
What are key features of this property?
This property features: Absolute NNN lease – Zero landlord responsibilities; Corporately guaranteed lease from Dollar General Corporation; 2017 build‑to‑suit construction for Dollar General
