Dollar General NNN
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For Sale
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3111 S Bantam Rd, Bethel, OH 45106
New construction convenience retail asset with a corporate guarantee and long-term absolute NNN lease structure.
Property Size10,640 SF
Price / SF$194.68
Days on Market5
Property Features for 3111 S Bantam Rd
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Retail
Net Operating Income
$137,748
Site & Location
Corner Location
Yes
Traffic Count
14,266 vehicles/day
Additional Details
Cap Rate
6.65%
Listing Agency:
Fortis Net Lease
Listed By:
Bryan Bender · License #MI 6501319610
(248) 419-3810
Source:
Crexi
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 5:25AM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
A 10,640-square-foot Dollar General PLUS store is under construction at 3111 S Bantam Rd in Bethel, Ohio. Store opening and rent commencement are projected for early September 2026. The property is designed for a Dollar General operation and will be leased under an absolute NNN structure, limiting landlord responsibilities under the stated lease terms.
The lease carries a 15-year initial term, with 5% rent increases every 5 years and five additional 5-year renewal options. Dollar General Corporation provides the corporate guarantee and holds a BBB credit rating, identified as investment grade in the property information. The site sits near the intersection of S Bantam Road and State Route 125, with reported traffic of 14,266 cars per day and nearby residential housing. The surrounding area has a 5-mile population of 28,681 and a 2-mile average household income of $89,674 per year.
The lease carries a 15-year initial term, with 5% rent increases every 5 years and five additional 5-year renewal options. Dollar General Corporation provides the corporate guarantee and holds a BBB credit rating, identified as investment grade in the property information. The site sits near the intersection of S Bantam Road and State Route 125, with reported traffic of 14,266 cars per day and nearby residential housing. The surrounding area has a 5-mile population of 28,681 and a 2-mile average household income of $89,674 per year.
Key Highlights
- 10,640‑square‑foot Dollar General PLUS store under construction
- 15‑year absolute NNN lease with no landlord responsibilities stated
- 5% rent increases every 5 years during the initial term and renewal options
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
$125,182
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
6.04%
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%
$2,503,640
$2.5M
Cap Rate 7%
$1,788,314
$1.8M
Cap Rate 9%
$1,390,911
$1.4M
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
$223.4K $21.00/SF
− Vacancy
−$56.5K −$5.31/SF
EGI
$166.9K $15.69/SF
− OpEx
−$41.7K −$3.92/SF
NOI
$125.2K $11.77/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$21.00 /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%
$2,503,640
Cap Rate 7%
$1,788,314
Cap Rate 9%
$1,390,911
Alternative Uses
Best Use
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,182 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$1.48M
$1.29M – $1.72M
NOI $103,341 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,528 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14,266 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 45106, OH
11,855
Population
4,724
Households
2.5
Avg Household Size
43
Median Age
14%
College-Educated
91%
High-School Grad
73.7 sq mi
ZIP Area
161
Density / Sq Mi
$68,458
Median Household Income
$37,387
Median Earnings
$742
Median Rent
$203,300
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 - New construction convenience retail asset with a corporate guarantee and long-term absolute NNN lease structure.
Where is this nnn property located?
The property is located at 3111 S Bantam Rd Bethel, OH.
What is the asking price?
The asking price for this property is $2,071,398.
What are key features of this property?
This property features: 10,640‑square‑foot Dollar General PLUS store under construction; 15‑year absolute NNN lease with no landlord responsibilities stated; 5% rent increases every 5 years during the initial term and renewal options
