Freestanding Dollar Tree Net
For Sale
Contact for pricing
Pending
2433 RIDGE RD, Lansing, IL 60438
Built in 2016, this single-tenant freestanding retail property is net leased to Dollar Tree with a corporate guarantee.
Property Size10,000 SF
Days on Market79
Property Features for 2433 RIDGE RD
General Information
Standard status
Pending
Size
10,000 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Building Details
Year Built
2016
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #BRK.200900214
(888) 737-2264
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 7 at 8:16AM
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 Bang Realty
Investment Insights
Based on property information with market context.
Built in 2016, this freestanding, single-tenant net leased retail property was developed to Dollar Tree’s modern prototype and totals 10,000 SF on approximately 1 acre. The asset is supported by a corporate guarantee from Dollar Tree Stores, Inc. and offers more than 5 years remaining on the current net lease term. Three 5-year renewal options are in place, with $0.50 PSF rent increases, and the property also includes a transferable 10-year roof warranty and a 12-year tax reduction designation.
The store is located along Ridge Road in the Chicago metro near Walgreens, Burger King, and AutoZone. The offering notes strong visibility and steady consumer traffic, with over 359,000 annual visits reported in the trade area, supported by more than 220,000 residents and average household income above $86,000 within 5 miles.
The store is located along Ridge Road in the Chicago metro near Walgreens, Burger King, and AutoZone. The offering notes strong visibility and steady consumer traffic, with over 359,000 annual visits reported in the trade area, supported by more than 220,000 residents and average household income above $86,000 within 5 miles.
Key Highlights
- Built in 2016: 10,000 SF freestanding single‑tenant retail store leased to Dollar Tree
- Single‑tenant NN lease with more than 5 years remaining term and a corporate guarantee from Dollar Tree Stores, Inc.
- Three 5‑year renewal options included, each with $0.50 PSF rent increases
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
$138,802
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
7.85%
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%
$2,776,040
$2.8M
Cap Rate 7%
$1,982,886
$2.0M
Cap Rate 9%
$1,542,244
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$17.7K −$1.77/SF
EGI
$198.3K $19.83/SF
− OpEx
−$59.5K −$5.95/SF
NOI
$138.8K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$2,776,040
Cap Rate 7%
$1,982,886
Cap Rate 9%
$1,542,244
Alternative Uses
Best Use
Retail
$1.98M
$1.74M – $2.31M
NOI $138,802 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,678 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
135k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 30%
McDonald's
Dining
34,668 visits/mo
0.4 miles
Dollar Tree
Shops & Services
20,926 visits/mo
0.1 miles
Starbucks
Dining
16,328 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
15,371 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
10,622 visits/mo
0.2 miles
Demographics for 60438, IL
29,661
Population
12,230
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
3,662
Density / Sq Mi
$72,043
Median Household Income
$44,632
Median Earnings
$1,271
Median Rent
$168,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Built in 2016, this single-tenant freestanding retail property is net leased to Dollar Tree with a corporate guarantee.
Where is this nnn property located?
The property is located at 2433 RIDGE RD Lansing, IL.
What is the asking price?
The asking price for this property is $1,768,000.
What are key features of this property?
This property features: Built in 2016: 10,000 SF freestanding single‑tenant retail store leased to Dollar Tree; Single‑tenant NN lease with more than 5 years remaining term and a corporate guarantee from Dollar Tree Stores, Inc.; Three 5‑year renewal options included, each with $0.50 PSF rent increases
