Building Details

Building Size 12,718 SF

Year Built 2023

Listing Agency: Matthews Real Estate Investment Services | Dallas

Listed By: Josh Bishop · License #688810 (TX) Show Phone

Source: Matthews

Added: Apr 11 Changed: Sep 8 Last Checked: Sep 11 at 4:16AM

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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 Matthews Real Estate Investment Services | Dallas

Investment Insights

Based on property information with market context.

Trinity Real Estate Investment Services presents the opportunity to acquire a Dollar General retail market at 224 E Stage Coach Trail. The offering is structured as a for-sale investment, with rent projected to commence in May of 2023.

Located in Lawndale, North Carolina, the property is marketed as a Dollar General Market within the grocery and convenience store retail category.

Broker of Record is Brian Brockman with Bang Realty-North Carolina, Inc (NC #298998).

Key Highlights

• For‑sale Dollar General retail market at 224 E Stage Coach Trail
• Rent projected to commence in May 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

$160,705

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

7.07%

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%

$3,214,100 $3.2M

Cap Rate 7%

$2,295,786 $2.3M

Cap Rate 9%

$1,785,611 $1.8M

Market Conditions

NOI Build-Up for 12,718 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

$228.9K $18.00/SF

− Vacancy

−$14.7K −$1.15/SF

EGI

$214.3K $16.85/SF

− OpEx

−$53.6K −$4.21/SF

NOI

$160.7K $12.64/SF

Area

Cleveland County, NC

Vacancy

6.40%

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%

$3,214,100

Cap Rate 7%

$2,295,786

Cap Rate 9%

$1,785,611

Alternative Uses

Best Use

Specialty Retail

$2.30M

$2.01M – $2.68M (±1% cap)

NOI $160,705 @ 7.0% cap · market cap 7.07%

Second Best

Retail

$2.18M

$1.90M – $2.54M (±1% cap)

NOI $152,395 @ 7.0% cap · market cap 6.70%

Theoretical Best

Office A

$3.23M

$2.83M – $3.77M (±1% cap)

NOI $226,085 @ 7.0% cap · market cap 9.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Grocery & Convenience Store Garden Center Hair Salon Pet Store Building Supply Bed & Breakfast

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

27

Businesses Nearby

6k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

5,661 visits/mo 0.1 miles

Demographics for 28090, NC

7,870

Population

3,413

Households

2.3

Avg Household Size

45

Median Age

19%

College-Educated

83%

High-School Grad

93.7 sq mi

ZIP Area

84

Density / Sq Mi

$52,224

Median Household Income

$41,028

Median Earnings

$680

Median Rent

$140,200

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 - For-sale Dollar General retail market at 224 E Stage Coach Trail with rent projected to commence May 2023.

Where is this grocery and convenience store located?

The property is located at 224 E Stage Coach Tr Lawndale, NC.

What is the asking price?

The asking price for this property is $2,273,393.

What are key features of this property?

This property features: For‑sale Dollar General retail market at 224 E Stage Coach Trail; Rent projected to commence in May 2023