Building Details

Year Built 2014

Listing Agency: HMX Realty Advisors - Corporate Show Phone

Listed By: Andrew Greenberg · License #10401235016 Show Phone

Source: Moodyscre

Added: Sep 17, 2020 Changed: Aug 13 Last Checked: Sep 10 at 12:34PM

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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 HMX Realty Advisors - Corporate

Investment Insights

Based on property information with market context.

HMX Realty Advisors exclusively presents a freestanding Dollar General located in Green Springs, Ohio. The property consists of a 9,014-square-foot building built in June 2014, situated on a 1.44-acre parcel consistent with Dollar General’s prototypical lot size.

The property is offered as an absolute triple-net lease. More than 11 years remain on the current lease, which expires June 30, 2029. The lease is corporately guaranteed by Dollar General and includes four remaining five-year renewal options, each with 10% rental increases at renewal.

Under the absolute triple-net structure, the tenant is responsible for roof, structure, parking lot, landscaping, and repairs, with no landlord responsibilities under the lease.

Key Highlights

• Dollar General freestanding retail building totaling 9,014 SF
• Built in June 2014 and situated on a 1.44‑acre parcel
• Absolute triple‑net lease with 11+ years remaining, expiring June 30, 2029

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

$36,874

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

2.83%

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%

$737,480 $737.5K

Cap Rate 7%

$526,771 $526.8K

Cap Rate 9%

$409,711 $409.7K

Market Conditions

NOI Build-Up for 9,014 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

$54.1K $6.00/SF

− Vacancy

−$1.4K −$0.16/SF

EGI

$52.7K $5.84/SF

− OpEx

−$15.8K −$1.75/SF

NOI

$36.9K $4.09/SF

Area

Seneca County, OH

Vacancy

2.60%

Lease Rate

$6.00 /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%

$737,480

Cap Rate 7%

$526,771

Cap Rate 9%

$409,711

Alternative Uses

Best Use

Retail

$526.8K

$460.9K – $614.6K (±1% cap)

NOI $36,874 @ 7.0% cap · market cap 2.83%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,799 @ 7.0% cap · market cap 10.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Dollar General Discount Store FedEx OnSite Postal Service Western Union Bank

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Electrical Service Grocery & Convenience Store Hair Salon Barber 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.

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

4k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,393 visits/mo 0.0 miles

Demographics for 44836, OH

2,538

Population

974

Households

2.6

Avg Household Size

44

Median Age

16%

College-Educated

94%

High-School Grad

35.7 sq mi

ZIP Area

71

Density / Sq Mi

$76,144

Median Household Income

$43,173

Median Earnings

$846

Median Rent

$128,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space 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?

Retail space - Freestanding 2014-built Dollar General on a 1.44-acre parcel with an absolute triple-net structure.

Where is this retail space located?

The property is located at 453 N Broadway St Green Springs, OH.

What is the asking price?

The asking price for this property is $1,303,278.

What are key features of this property?

This property features: Dollar General freestanding retail building totaling 9,014 SF; Built in June 2014 and situated on a 1.44‑acre parcel; Absolute triple‑net lease with 11+ years remaining, expiring June 30, 2029