Building Details

Year Built 2023

Tenancy Single

Listing Agency: Furman Capital Advisors

Listed By: Peter Couchell, CCIM · License #SC 7016 Show Phone

Source: Crexi

Added: Jun 29 Changed: Aug 8 Last Checked: Aug 4 at 11:57AM

Report an Issue

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 Furman Capital Advisors

Investment Insights

Based on property information with market context.

Furman Capital Advisors is pleased to offer the opportunity to purchase a recently constructed Dollar General located in Sutherland, Virginia.

The offering is positioned as a retail property tied to the Dollar General brand, presented as a for-sale investment opportunity.

The property is available at 21550 Cox Rd, Sutherland, VA 23885.

Key Highlights

• Recently constructed Dollar General for sale in Sutherland, Virginia
• Built in 2023

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

$138,038

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

7.74%

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%

$2,760,760 $2.8M

Cap Rate 7%

$1,971,971 $2.0M

Cap Rate 9%

$1,533,756 $1.5M

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

$197.9K $18.60/SF

− Vacancy

−$13.9K −$1.30/SF

EGI

$184.1K $17.30/SF

− OpEx

−$46.0K −$4.32/SF

NOI

$138.0K $12.97/SF

Area

Dinwiddie County, VA

Vacancy

7.00%

Lease Rate

$18.60 /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%

$2,760,760

Cap Rate 7%

$1,971,971

Cap Rate 9%

$1,533,756

Alternative Uses

Best Use

Specialty Retail

$1.97M

$1.73M – $2.30M (±1% cap)

NOI $138,038 @ 7.0% cap · market cap 7.74%

Second Best

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,126 @ 7.0% cap · market cap 6.51%

Theoretical Best

Office A

$2.46M

$2.15M – $2.87M (±1% cap)

NOI $172,074 @ 7.0% cap · market cap 9.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Dollar General Discount Store

Suggested Use

Top Pick Auto Parts Store Auto Repair Shop Grocery & Convenience Store Gym & Fitness Center Food Market

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

7

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 23885, VA

2,779

Population

1,308

Households

2.1

Avg Household Size

47

Median Age

24%

College-Educated

96%

High-School Grad

34.2 sq mi

ZIP Area

81

Density / Sq Mi

$98,295

Median Household Income

$52,037

Median Earnings

$832

Median Rent

$271,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 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 grocery and convenience stores 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?

Grocery and convenience store - Recently constructed Dollar General is offered for sale in Sutherland, Virginia.

Where is this grocery and convenience store located?

The property is located at 21550 Cox Rd Sutherland, VA.

What is the asking price?

The asking price for this property is $1,784,000.

What are key features of this property?

This property features: Recently constructed Dollar General for sale in Sutherland, Virginia; Built in 2023