Dollar General NNN Retail
For Sale
Contact for pricing
3465 State Route 125, Bethel, OH 45106
Build-to-suit store completed in 2008 with tenant-paid taxes, insurance, and CAM reimbursement.
Property Size9,014 SF
Price / SF$135.46
Days on Market56
Property Features for 3465 State Route 125
General Information
Standard status
Active
Size
9,014 SF
Property subtype
RETAIL
Building Details
Year Built
2008
Tenancy
Single
Listing Agency:
Lee & Associates | Oakland
(510) 914-1618
Listed By:
David Scarpinato · License #01812743
(510) 914-1618
Source:
Moodyscre
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 29 at 7:48PM
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 Lee & Associates | Oakland
Investment Insights
Based on property information with market context.
Located at 3465 State Route 125 in Bethel, Ohio, this 9,014± SF freestanding retail property was developed as a build-to-suit Dollar General and completed in 2008. The asset is occupied under a net lease structure.
The lease carries a full corporate guaranty from Dollar General Corporation, identified as NYSE: DG with an S&P BBB/Stable rating. The tenant pays real estate taxes and insurance while reimbursing CAM expenses. Three remaining five-year options include scheduled increases to rent and CAM reimbursement. The property is located 20 minutes from the closest major grocer.
The lease carries a full corporate guaranty from Dollar General Corporation, identified as NYSE: DG with an S&P BBB/Stable rating. The tenant pays real estate taxes and insurance while reimbursing CAM expenses. Three remaining five-year options include scheduled increases to rent and CAM reimbursement. The property is located 20 minutes from the closest major grocer.
Key Highlights
- 9,014± SF Dollar General build‑to‑suit completed in 2008
- Lease fully guaranteed by Dollar General Corporation
- Three remaining five‑year options with rent and CAM reimbursement 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
$106,052
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
8.69%
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%
$2,121,040
$2.1M
Cap Rate 7%
$1,515,029
$1.5M
Cap Rate 9%
$1,178,356
$1.2M
Market Conditions
NOI Build-Up for 9,014 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
$189.3K $21.00/SF
− Vacancy
−$47.9K −$5.31/SF
EGI
$141.4K $15.69/SF
− OpEx
−$35.4K −$3.92/SF
NOI
$106.1K $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%
$2,121,040
Cap Rate 7%
$1,515,029
Cap Rate 9%
$1,178,356
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,052 @ 7.0% cap · market cap 8.69%
Second Best
Retail
$1.25M
$1.09M – $1.46M
NOI $87,548 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,122 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
40
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Build-to-suit store completed in 2008 with tenant-paid taxes, insurance, and CAM reimbursement.
Where is this nnn property located?
The property is located at 3465 State Route 125 Bethel, OH.
What is the asking price?
The asking price for this property is $1,221,000.
What are key features of this property?
This property features: 9,014± SF Dollar General build‑to‑suit completed in 2008; Lease fully guaranteed by Dollar General Corporation; Three remaining five‑year options with rent and CAM reimbursement increases
