Dollar General NNN Lease
For Sale
Contact for pricing
3236 E Holland Rd, Saginaw, MI 48601
NNN leased Dollar General with long-term strategic expansion potential.
Property Size9,026 SF
Price / SF$163.06
Days on Market155
Property Features for 3236 E Holland Rd
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Zoning
T-C
Occupancy
100%
Lease Type
Absolute Net
Building Details
Year Built
2020
Buildings
1
Tenancy
Single
Listing Agency:
Garceau Realty
(410) 803-0714
Listed By:
David Feazell · License #MD 674137
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 20 at 4:11AM
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 Garceau Realty
Investment Insights
Based on property information with market context.
This property features a Dollar General store operating under an absolute NNN lease, with approximately 9.5 years remaining on the current term. The lease includes (5) five-year renewal options, each with a 10% rental increase. Constructed in 2020 as part of Dollar General's strategic expansion, the property is situated in a prime location. The 9,026 square foot building benefits from its proximity to multiple national retailers and several national fast-food chains, which draw consistent customer traffic to the area. The location benefits from ideal traffic counts and demographics, supporting the potential for a successful long-term Dollar General operation.
Key Highlights
- Absolute NNN lease, providing a passive investment.
- 9. 5 years remaining on the initial lease term, offering a stable income stream.
- Built brand new in 2020, minimizing potential maintenance costs.
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
$116,733
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
7.93%
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%
$2,334,660
$2.3M
Cap Rate 7%
$1,667,614
$1.7M
Cap Rate 9%
$1,297,033
$1.3M
Market Conditions
NOI Build-Up for 9,026 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
$162.5K $18.00/SF
− Vacancy
−$6.8K −$0.76/SF
EGI
$155.6K $17.24/SF
− OpEx
−$38.9K −$4.31/SF
NOI
$116.7K $12.93/SF
Area
Saginaw County, MI
Vacancy
4.20%
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%
$2,334,660
Cap Rate 7%
$1,667,614
Cap Rate 9%
$1,297,033
Alternative Uses
Best Use
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,733 @ 7.0% cap · market cap 7.93%
Second Best
Retail
$960.4K
$840.3K – $1.12M
NOI $67,227 @ 7.0% cap · market cap 4.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
75k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 35%
Groceries 9%
Hotels & Casinos 1%
Speedway
Shops & Services
21,047 visits/mo
0.1 miles
McDonald's
Dining
17,614 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
7,940 visits/mo
0.1 miles
Save-A-Lot
Groceries
7,061 visits/mo
0.3 miles
Taco Bell
Dining
6,582 visits/mo
0.1 miles
Demographics for 48601, MI
32,165
Population
16,220
Households
2
Avg Household Size
39
Median Age
8%
College-Educated
86%
High-School Grad
104.3 sq mi
ZIP Area
308
Density / Sq Mi
$37,830
Median Household Income
$27,218
Median Earnings
$836
Median Rent
$54,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Save A Lot — 3355 E Holland Rd, Saginaw, MI 48601
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN leased Dollar General with long-term strategic expansion potential.
Where is this grocery and convenience store located?
The property is located at 3236 E Holland Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $1,471,750.
What are key features of this property?
This property features: Absolute NNN lease, providing a passive investment.; 9. 5 years remaining on the initial lease term, offering a stable income stream.; Built brand new in 2020, minimizing potential maintenance costs.
