Listing Agency: Matthews Real Estate Investment Services | Dallas j***@matthews.com Show Phone

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

Source: Moodyscre

Added: Aug 19, 2025 Changed: Jul 10 Last Checked: Aug 21 at 12:13PM

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Investment Insights

Based on property information with market context.

This property features a Dollar General store constructed in 2013. In 2023, Dollar General signed a new 15-year lease, demonstrating their commitment to the location. The lease includes 5% rental increases every five years for the life of the lease. The surrounding community has an average household income of $98,123 within a 5-mile radius. The property operates under an absolute NNN lease, meaning there are zero landlord responsibilities. The population within an 8-mile radius is approximately 28,629 residents, and within a 10-mile radius, the population is approximately 58,844 residents. The property size is 9,249 square feet.

Key Highlights

• Brand new 15‑year lease signed by Dollar General in 2023 demonstrating commitment to the location.
• Absolute NNN lease with ZERO landlord responsibilities.
• 5% rental increases every 5 years for the life of the lease.

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

$36,706

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

2.93%

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%

$734,120 $734.1K

Cap Rate 7%

$524,371 $524.4K

Cap Rate 9%

$407,844 $407.8K

Market Conditions

NOI Build-Up for 9,249 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

$54.4K $5.88/SF

− Vacancy

−$1.9K −$0.21/SF

EGI

$52.4K $5.67/SF

− OpEx

−$15.7K −$1.70/SF

NOI

$36.7K $3.97/SF

Area

Hancock County, OH

Vacancy

3.58%

Lease Rate

$5.88 /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%

$734,120

Cap Rate 7%

$524,371

Cap Rate 9%

$407,844

Alternative Uses

Best Use

Specialty Retail

$2.58M

$2.26M – $3.01M (±1% cap)

NOI $180,587 @ 7.0% cap · market cap 14.41%

Second Best

Retail

$524.4K

$458.8K – $611.8K (±1% cap)

NOI $36,706 @ 7.0% cap · market cap 2.93%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

112

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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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?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - NNN Dollar General with new 15-year lease and strong income.

Where is this grocery and convenience store located?

The property is located at 275 Morrison McComb, OH.

What is the asking price?

The asking price for this property is $1,253,224.

What are key features of this property?

This property features: Brand new 15‑year lease signed by Dollar General in 2023 demonstrating commitment to the location.; Absolute NNN lease with ZERO landlord responsibilities.; 5% rental increases every 5 years for the life of the lease.