Freestanding Dollar General
For Sale
Contact for pricing
1402 E Newport Pike, Wilmington, DE 19804
Freestanding Dollar General secured by a 15-year absolute net lease starting in 2015, with 4+ years remaining.
Property Size9,100 SF
Price / SF$267.69
Days on Market182
Property Features for 1402 E Newport Pike
General Information
Standard status
Active
Size
9,100 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$207,055
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2015
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay Alexandria
Listed By:
Kyle Danielson · License #9538605
Source:
Crexi
Added: Mar 6
Changed: Aug 22
Last Checked: Sep 3 at 7:16AM
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 Horvath & Tremblay Alexandria
Investment Insights
Based on property information with market context.
Horvath & Tremblay presents the exclusive opportunity to acquire a freestanding Dollar General investment property in Wilmington, Delaware. Dollar General commenced a 15-year absolute net lease in 2015, with 4+ years of term remaining and five (5) five-year renewal options. The lease includes 10% rent increases at the start of each renewal option.
The property is positioned in the Newport Heights neighborhood at the signalized intersection of Becker Avenue and Newport Pike, along the area’s primary commercial and commuter corridor through southwestern Wilmington. Dollar General benefits from visibility and frontage in a densely populated residential neighborhood, with convenient access to DE Route 141 and Interstates 95, 295, and 495.
The investment is offered for sale at 1402 E Newport Pike. (Information provided by owner/broker, and subject to verification.)
The property is positioned in the Newport Heights neighborhood at the signalized intersection of Becker Avenue and Newport Pike, along the area’s primary commercial and commuter corridor through southwestern Wilmington. Dollar General benefits from visibility and frontage in a densely populated residential neighborhood, with convenient access to DE Route 141 and Interstates 95, 295, and 495.
The investment is offered for sale at 1402 E Newport Pike. (Information provided by owner/broker, and subject to verification.)
Key Highlights
- Freestanding Dollar General investment at 1402 E Newport Pike, Wilmington, DE
- Dollar General absolute net lease commenced in 2015 with 4+ years of initial term remaining
- Lease includes five (5) 5‑year renewal options with 10% rent increases at the start of each renewal 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
$116,830
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
4.80%
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%
$2,336,600
$2.3M
Cap Rate 7%
$1,669,000
$1.7M
Cap Rate 9%
$1,298,111
$1.3M
Market Conditions
NOI Build-Up for 9,100 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
$163.8K $18.00/SF
− Vacancy
−$8.0K −$0.88/SF
EGI
$155.8K $17.12/SF
− OpEx
−$38.9K −$4.28/SF
NOI
$116.8K $12.84/SF
Area
New Castle County, DE
Vacancy
4.90%
Lease Rate
$18.00 /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%
$2,336,600
Cap Rate 7%
$1,669,000
Cap Rate 9%
$1,298,111
Alternative Uses
Best Use
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,830 @ 7.0% cap · market cap 4.80%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,097 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,365 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
15,235 visits/mo
0.4 miles
Dollar General
Shops & Services
6,149 visits/mo
0.0 miles
M&T Bank
Shops & Services
3,202 visits/mo
0.4 miles
Autopart International
Shops & Services
143 visits/mo
0.4 miles
Demographics for 19804, DE
18,292
Population
8,075
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
7.2 sq mi
ZIP Area
2,541
Density / Sq Mi
$76,204
Median Household Income
$44,897
Median Earnings
$1,157
Median Rent
$244,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding Dollar General secured by a 15-year absolute net lease starting in 2015, with 4+ years remaining.
Where is this nnn property located?
The property is located at 1402 E Newport Pike Wilmington, DE.
What is the asking price?
The asking price for this property is $2,435,953.
What are key features of this property?
This property features: Freestanding Dollar General investment at 1402 E Newport Pike, Wilmington, DE; Dollar General absolute net lease commenced in 2015 with 4+ years of initial term remaining; Lease includes five (5) 5‑year renewal options with 10% rent increases at the start of each renewal option
