Single-Tenant Dollar General NNN
For Sale
Contact for pricing
219 Main St S, Wagener, SC 29164
Recently renovated retail building under a long-term net lease.
Property Size9,240 SF
Price / SF$108.88
Days on Market151
Property Features for 219 Main St S
General Information
Standard status
Active
Size
9,240 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Net Operating Income
$73,440
Building Details
Year Built
2007
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Listing Agency:
Colliers - Atlanta, Georgia
Listed By:
Henry Kushner · License #GA 365320
Source:
Crexi
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 29 at 9:05PM
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 Colliers - Atlanta, Georgia
Investment Insights
Based on property information with market context.
This 9,240-square-foot single-tenant retail property was built in 2007 and is occupied by Dollar General under a net lease. The building recently received exterior improvements, new paint, HVAC replacements, and parking lot work. Dollar General signed a 10-year lease in April 2024, with the term commencing in October 2024.
The property is located in Wagener, South Carolina, within the Augusta, GA MSA, and is positioned along U.S. 302, a major transportation route connecting the area with Augusta and Columbia. Wagener’s economy has strong agriculture and agribusiness ties, while public-facility investment includes a new high school completed in December 2024.
Dollar General Corporation is publicly traded on the NYSE under ticker DG and carries a BBB investment-grade credit rating from S&P.
The property is located in Wagener, South Carolina, within the Augusta, GA MSA, and is positioned along U.S. 302, a major transportation route connecting the area with Augusta and Columbia. Wagener’s economy has strong agriculture and agribusiness ties, while public-facility investment includes a new high school completed in December 2024.
Dollar General Corporation is publicly traded on the NYSE under ticker DG and carries a BBB investment-grade credit rating from S&P.
Key Highlights
- Single‑tenant Dollar General retail property
- 9,240 square feet on a 2007‑built property
- 10‑year lease signed in April 2024; term commenced in October 2024
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
$89,227
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
8.87%
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%
$1,784,540
$1.8M
Cap Rate 7%
$1,274,671
$1.3M
Cap Rate 9%
$991,411
$991.4K
Market Conditions
NOI Build-Up for 9,240 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
$133.1K $14.40/SF
− Vacancy
−$5.6K −$0.60/SF
EGI
$127.5K $13.80/SF
− OpEx
−$38.2K −$4.14/SF
NOI
$89.2K $9.66/SF
Area
Aiken County, SC
Vacancy
4.20%
Lease Rate
$14.40 /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%
$1,784,540
Cap Rate 7%
$1,274,671
Cap Rate 9%
$991,411
Alternative Uses
Best Use
Retail
$1.27M
$1.12M – $1.49M
NOI $89,227 @ 7.0% cap · market cap 8.87%
Second Best
Specialty Retail
$382.0K
$334.2K – $445.7K
NOI $26,739 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,673 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 29164, SC
4,253
Population
2,226
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
107.2 sq mi
ZIP Area
40
Density / Sq Mi
$45,755
Median Household Income
$33,191
Median Earnings
$786
Median Rent
$186,200
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 - Recently renovated retail building under a long-term net lease.
Where is this nnn property located?
The property is located at 219 Main St S Wagener, SC.
What is the asking price?
The asking price for this property is $1,006,027.
What are key features of this property?
This property features: Single‑tenant Dollar General retail property; 9,240 square feet on a 2007‑built property; 10‑year lease signed in April 2024; term commenced in October 2024
