New Dollar General NNN
For Sale
Contact for pricing
3271 PA-118, Dallas, PA
New construction Dollar General with long-term absolute NNN lease.
Property Size10,640 SF
Lot Size1.26 Acres
Price / SF$188.20
Days on Market368
Property Features for 3271 PA-118
General Information
Standard status
Active
Size
10,640 SF
Lot size
1.26 Acres
Property subtype
RETAIL
Listing Agency:
Matthews Real Estate Investment Services | Dallas
(315) 730-6228
Listed By:
Josh Bishop · License #CQ1066435,BK3554632(FL)
(315) 730-6228
Source:
Moodyscre
Added: Aug 18, 2025
Changed: Aug 16
Last Checked: Aug 20 at 9:55AM
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.
This property features a new build-to-suit construction for Dollar General, completed in February 2024. It is a larger Dollar General PLUS prototype, encompassing a 10,640 square feet building. The property is under a 15-year absolute NNN lease, commencing in February 2024, ensuring zero landlord management responsibilities. Rental increases are set at 5% every five years for the life of the lease. The property is located in Dallas, within the Scranton – Wilkes-Barre MSA, which has a population of 574,009 residents. The average household income in the area is $117,573. The property serves a broad trade area with a population of over 173,682 residents within a ±10-mile radius.
Key Highlights
- 15‑year absolute NNN lease, commenced February 2024
- Brand new 2024 build‑to‑suit construction for Dollar General
- Larger Dollar General PLUS prototype with 10,640 SF building**
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
$114,673
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
5.73%
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%
$2,293,460
$2.3M
Cap Rate 7%
$1,638,186
$1.6M
Cap Rate 9%
$1,274,144
$1.3M
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
$159.6K $15.00/SF
− Vacancy
−$6.7K −$0.63/SF
EGI
$152.9K $14.37/SF
− OpEx
−$38.2K −$3.59/SF
NOI
$114.7K $10.78/SF
Area
Luzerne County, PA
Vacancy
4.20%
Lease Rate
$15.00 /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%
$2,293,460
Cap Rate 7%
$1,638,186
Cap Rate 9%
$1,274,144
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,673 @ 7.0% cap · market cap 5.73%
Second Best
Retail
$1.26M
$1.11M – $1.47M
NOI $88,482 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,953 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
98k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Dining 30%
Shops & Services 30%
Weis Markets
Groceries
38,887 visits/mo
0.3 miles
Wendy's
Dining
17,188 visits/mo
0.1 miles
Dollar General
Shops & Services
12,046 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,886 visits/mo
0.5 miles
PNC Bank
Shops & Services
6,419 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - New construction Dollar General with long-term absolute NNN lease.
Where is this grocery and convenience store located?
The property is located at 3271 PA-118 Dallas, PA.
What is the asking price?
The asking price for this property is $2,002,395.
What are key features of this property?
This property features: 15‑year absolute NNN lease, commenced February 2024; Brand new 2024 build‑to‑suit construction for Dollar General; Larger Dollar General PLUS prototype with 10,640 SF building**
