Dollar General Grocery
For Sale
$1,179,000
3822 Springfield Xenia Rd, Springfield, OH 45506
Freestanding Dollar General location with a net-net lease structure and additional commercial land area.
Property Size10,860 SF
Lot Size6.12 Acres
Price / SF$108.56
Days on Market14
Property Features for 3822 Springfield Xenia Rd
General Information
Standard status
Active
Size
10,860 SF
Lot size
6.12 Acres
Net Operating Income
$87,889
Additional Details
Cap Rate
7.45%
Land Use
commercial
Building Details
Year Built
1997
Listing Agency:
Keller Williams Greater Cols
(614) 314-5555
Listed By:
Martha D Hunley · License #450518
Source:
Dreamcolumbus
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 28 at 12:39PM
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 Keller Williams Greater Cols
Investment Insights
Based on property information with market context.
This freestanding Dollar General property contains 10,860 square feet on 6.12 acres of commercial land and was built in 1997. The lease is structured as NN, with the landlord responsible for the exterior and parking lot. The initial lease term has 6 years remaining, followed by four renewal options that include 10% rent increases.
The property is occupied by Dollar General, a nationally recognized retailer, and carries a 7.45% cap rate. Its combination of an established retail occupant, substantial land area, and defined renewal provisions provides a straightforward net-lease investment profile.
The property is occupied by Dollar General, a nationally recognized retailer, and carries a 7.45% cap rate. Its combination of an established retail occupant, substantial land area, and defined renewal provisions provides a straightforward net-lease investment profile.
Key Highlights
- 10,860‑square‑foot Dollar General building on 6.12 acres
- 7.45% cap rate
- 6 years remaining on the initial lease term
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
$42,513
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
3.61%
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%
$850,260
$850.3K
Cap Rate 7%
$607,329
$607.3K
Cap Rate 9%
$472,367
$472.4K
Market Conditions
NOI Build-Up for 10,860 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
$63.0K $5.80/SF
− Vacancy
−$2.3K −$0.21/SF
EGI
$60.7K $5.59/SF
− OpEx
−$18.2K −$1.68/SF
NOI
$42.5K $3.91/SF
Area
Clark County, OH
Vacancy
3.58%
Lease Rate
$5.80 /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%
$850,260
Cap Rate 7%
$607,329
Cap Rate 9%
$472,367
Alternative Uses
Best Use
Specialty Retail
$3.03M
$2.65M – $3.53M
NOI $212,042 @ 7.0% cap · market cap 17.98%
Second Best
Retail
$607.3K
$531.4K – $708.6K
NOI $42,513 @ 7.0% cap · market cap 3.61%
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
32
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
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?
Grocery and convenience store - Freestanding Dollar General location with a net-net lease structure and additional commercial land area.
Where is this grocery and convenience store located?
The property is located at 3822 Springfield Xenia Rd Springfield, OH.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: 10,860‑square‑foot Dollar General building on 6.12 acres; 7.45% cap rate; 6 years remaining on the initial lease term
