Dollar General Absolute NNN
For Sale
$1,057,820
4 Barber Street, Central City, IA 52214
Absolute NNN lease with 7 years remaining, corporate guarantee, and a concrete parking lot with ample parking.
Property Size9,002 SF
Days on Market59
Property Features for 4 Barber Street
General Information
Standard status
Active
Size
9,002 SF
Property subtype
Retail
Building Details
Building Size
9,002 SF
Year Built
2016
Tenancy
Single
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 975-8225
Listed By:
Mitch Phillips · License #S62966000
(515) 975-8225
Source:
Fergusoncres
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 22 at 4:01AM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This sale presents an absolute NNN lease with 7 years remaining on the lease term and five (5) year renewal options. The property offers a corporate guarantee by Dollar General Corporation and reflects a “BBB” investment-grade credit rating. The lease structure calls for no landlord responsibilities, aligning with an absolute NNN format.
Total annual rent is $82,510, with 10% rent increases at each extension option. The site includes a concrete parking lot with ample parking.
The property is offered for sale at 4 Barber Street in Central City, IA 52214.
Total annual rent is $82,510, with 10% rent increases at each extension option. The site includes a concrete parking lot with ample parking.
The property is offered for sale at 4 Barber Street in Central City, IA 52214.
Key Highlights
- Absolute NNN lease with 7 years remaining and five (5) year renewal options
- Tenant is Dollar General Corporation with a corporate guarantee and “BBB” investment grade credit rating
- Total annual rent is $82,510 with 10% rent increases at each extension option
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
$91,201
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
8.62%
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%
$1,824,020
$1.8M
Cap Rate 7%
$1,302,871
$1.3M
Cap Rate 9%
$1,013,344
$1.0M
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
$131.8K $14.64/SF
− Vacancy
−$10.2K −$1.13/SF
EGI
$121.6K $13.51/SF
− OpEx
−$30.4K −$3.38/SF
NOI
$91.2K $10.13/SF
Area
Linn County, IA
Vacancy
7.73%
Lease Rate
$14.64 /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%
$1,824,020
Cap Rate 7%
$1,302,871
Cap Rate 9%
$1,013,344
Alternative Uses
Best Use
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,201 @ 7.0% cap · market cap 8.62%
Second Best
Retail
$1.22M
$1.06M – $1.42M
NOI $85,121 @ 7.0% cap · market cap 8.05%
Theoretical Best
Self Storage
$1.52M
$1.33M – $1.77M
NOI $106,053 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,739 visits/mo
0.0 miles
Demographics for 52214, IA
3,001
Population
1,339
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
98%
High-School Grad
90.2 sq mi
ZIP Area
33
Density / Sq Mi
$83,450
Median Household Income
$49,672
Median Earnings
$825
Median Rent
$235,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN lease with 7 years remaining, corporate guarantee, and a concrete parking lot with ample parking.
Where is this nnn property located?
The property is located at 4 Barber Street Central City, IA.
What is the asking price?
The asking price for this property is $1,057,820.
What are key features of this property?
This property features: Absolute NNN lease with 7 years remaining and five (5) year renewal options; Tenant is Dollar General Corporation with a corporate guarantee and “BBB” investment grade credit rating; Total annual rent is $82,510 with 10% rent increases at each extension option
