Dollar General Convenience
New
For Sale
$1,829,000
1853 Love Rd, Grand Island, NY 14072
Grocery and convenience retail property associated with an established national operator.
Property Size10,640 SF
Price / SF$171.90
Days on Market2
Property Features for 1853 Love Rd
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Discount
Lease Type
Absolute Net
Amenities
NEWER 2023 CONSTRUCTION | 12+/- YEARS REMAINING
10% RENTAL INCREASES EACH RENEWAL OPTION
TRIPLE-NET (NNN) LEASE | NO LANDLORD EXPENSES
80,000+ POPULATION IN 5-MILE RADIUS
STRONG PLACER.AI DATA | TOP 36% STORE IN THE ENTIRE CHAIN
Building Details
Building Size
10,640 SF
Tenancy
Single
Listing Agency:
(678) 808-2770
Listed By:
Robby Pfeiffer · License #License(s): GA: 281335, AL: 000091407-1
(678) 808-2770
Source:
Marcusmillichap
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 4:33AM
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 Robby Pfeiffer
Investment Insights
Based on property information with market context.
Located at 1853 Love Rd in Grand Island, NY, this grocery and convenience retail property contains 10,640 square feet. The asset is associated with Dollar General, a publicly traded company listed on the NYSE.
Dollar General operates more than 20,000 locations across 48 states and reported investment-grade credit rated BBB/stable by Standard & Poor’s. Fiscal year 2025 net sales were reported at $42.7 billion.
Dollar General operates more than 20,000 locations across 48 states and reported investment-grade credit rated BBB/stable by Standard & Poor’s. Fiscal year 2025 net sales were reported at $42.7 billion.
Key Highlights
- 10,640‑square‑foot grocery and convenience retail property
- Located at 1853 Love Rd, Grand Island, NY 14072
- Associated with 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
$128,127
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
7.01%
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%
$2,562,540
$2.6M
Cap Rate 7%
$1,830,386
$1.8M
Cap Rate 9%
$1,423,633
$1.4M
Market Conditions
NOI Build-Up for 10,640 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
$191.5K $18.00/SF
− Vacancy
−$20.7K −$1.94/SF
EGI
$170.8K $16.06/SF
− OpEx
−$42.7K −$4.01/SF
NOI
$128.1K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
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%
$2,562,540
Cap Rate 7%
$1,830,386
Cap Rate 9%
$1,423,633
Alternative Uses
Best Use
Specialty Retail
$1.83M
$1.60M – $2.14M
NOI $128,127 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$1.37M
$1.20M – $1.59M
NOI $95,668 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.33M
$2.04M – $2.71M
NOI $162,818 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
5,740 visits/mo
0.1 miles
Dollar General
Shops & Services
5,512 visits/mo
0.1 miles
Mobil
Shops & Services
4,222 visits/mo
0.0 miles
Demographics for 14072, NY
21,389
Population
9,053
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
28.2 sq mi
ZIP Area
758
Density / Sq Mi
$107,036
Median Household Income
$56,420
Median Earnings
$1,222
Median Rent
$302,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery and convenience retail property associated with an established national operator.
Where is this grocery and convenience store located?
The property is located at 1853 Love Rd Grand Island, NY.
What is the asking price?
The asking price for this property is $1,829,000.
What are key features of this property?
This property features: 10,640‑square‑foot grocery and convenience retail property; Located at 1853 Love Rd, Grand Island, NY 14072; Associated with Dollar General
