Dollar General Retail
New
For Sale
$1,841,000
3929 Ridge Rd, Lockport, NY 14094
Commercial property associated with Dollar General and classified for grocery and convenience retail use.
Property Size10,640 SF
Price / SF$173.03
Days on Market3
Property Features for 3929 Ridge Rd
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Discount
Lease Type
Absolute Net
Additional Details
Corner Location
Yes
Amenities
NEWER 2023 CONSTRUCTION | 12+/- YEARS REMAINING
10% RENTAL INCREASES EACH RENEWAL OPTION
TRIPLE-NET (NNN) LEASE | NO LANDLORD EXPENSES
100,000+ POPULATION IN 10-MILE RADIUS
LARGE 2.41+/- ACRE CORNER LOT AT SIGNALIZED INTERSECTION
RARE UPGRADED CONSTRUCTION
Building Details
Building Size
10,640 SF
Listing Agency:
(678) 808-2770
Listed By:
Robby Pfeiffer · License #License(s): GA: 281335, AL: 000091407-1
(678) 808-2770
Source:
Marcusmillichap
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 11:20PM
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 Robby Pfeiffer
Investment Insights
Based on property information with market context.
The property is a 10,640-square-foot commercial asset associated with Dollar General and classified within the grocery and convenience store category. Its listing also identifies the site as a corner-lot property.
Dollar General is publicly traded on the NYSE and is described as having investment-grade credit rated BBB/Stable by Standard & Poor’s. The property is located at 3929 Ridge Rd in Lockport, New York.
Dollar General is publicly traded on the NYSE and is described as having investment-grade credit rated BBB/Stable by Standard & Poor’s. The property is located at 3929 Ridge Rd in Lockport, New York.
Key Highlights
- 10,640‑square‑foot commercial property
- Associated with Dollar General
- Corner‑lot property
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
$117,038
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
6.36%
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%
$2,340,760
$2.3M
Cap Rate 7%
$1,671,971
$1.7M
Cap Rate 9%
$1,300,422
$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
$191.5K $18.00/SF
− Vacancy
−$24.3K −$2.29/SF
EGI
$167.2K $15.71/SF
− OpEx
−$50.2K −$4.71/SF
NOI
$117.0K $11.00/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$18.00 /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%
$2,340,760
Cap Rate 7%
$1,671,971
Cap Rate 9%
$1,300,422
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $117,038 @ 7.0% cap · market cap 6.36%
Second Best
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,213 @ 7.0% cap · market cap 5.82%
Theoretical Best
Warehouse
$9.04M
$7.91M – $10.55M
NOI $632,854 @ 7.0% cap · market cap 34.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,248 visits/mo
0.2 miles
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial property associated with Dollar General and classified for grocery and convenience retail use.
Where is this grocery and convenience store located?
The property is located at 3929 Ridge Rd Lockport, NY.
What is the asking price?
The asking price for this property is $1,841,000.
What are key features of this property?
This property features: 10,640‑square‑foot commercial property; Associated with Dollar General; Corner‑lot property
