Dollar General NNN
For Sale
Contact for pricing
400 BROAD ST, Central Falls, RI 02863
Dollar General occupies a masonry building under an NN+ lease with a recently exercised renewal option.
Property Size12,615 SF
Lot Size0.86 Acres
Price / SF$166.36
Days on Market18
Property Features for 400 BROAD ST
General Information
Standard status
Active
Size
12,615 SF
Total Parking Spaces
32
Lot size
0.86 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Net Operating Income
$162,641
Financials
Asking Price
$2,098,593
Cap Rate
7.75%
Additional Details
Corner Location
Yes
Building Details
Year Built
1948
Year Renovated
2015
Stories
1
Units
1
Tenancy
Single
Construction
masonry
Listing Agency:
AMC Real Estate
(888) 737-2264
Listed By:
Angelo Iacobelli · License #MI 6501442625
Source:
Crexi
Added: Aug 4
Changed: Aug 20
Last Checked: Aug 20 at 6:15PM
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 AMC Real Estate
Investment Insights
Based on property information with market context.
The property is a Dollar General store at 400 Broad St in Central Falls, Rhode Island. The 12,615-square-foot building was constructed in 1948 and features full masonry construction. It occupies a 0.86-acre corner parcel with 32 parking spaces, providing an established retail format and dedicated on-site parking.
The tenancy is governed by an NN+ lease, and the tenant recently exercised a renewal option that included a 10% increase. Alpha Maps ranks the store in the top 4% statewide and top 22% nationally. The property is offered as a single-tenant retail asset with an existing operating occupant.
The tenancy is governed by an NN+ lease, and the tenant recently exercised a renewal option that included a 10% increase. Alpha Maps ranks the store in the top 4% statewide and top 22% nationally. The property is offered as a single-tenant retail asset with an existing operating occupant.
Key Highlights
- Dollar General tenant at 400 Broad St, Central Falls, RI 02863
- 12,615 SF building constructed in 1948
- 0.86‑acre corner parcel with 32 parking spaces
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
$152,795
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
7.28%
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%
$3,055,900
$3.1M
Cap Rate 7%
$2,182,786
$2.2M
Cap Rate 9%
$1,697,722
$1.7M
Market Conditions
NOI Build-Up for 12,615 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
$227.1K $18.00/SF
− Vacancy
−$23.3K −$1.85/SF
EGI
$203.7K $16.15/SF
− OpEx
−$50.9K −$4.04/SF
NOI
$152.8K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
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%
$3,055,900
Cap Rate 7%
$2,182,786
Cap Rate 9%
$1,697,722
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.91M – $2.55M
NOI $152,795 @ 7.0% cap · market cap 7.28%
Second Best
Retail
$2.03M
$1.78M – $2.37M
NOI $142,418 @ 7.0% cap · market cap 6.79%
Theoretical Best
Multifamily LT 5
$3.00M
$2.63M – $3.50M
NOI $210,046 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,552
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Groceries 5%
Cumberland Farms
Shops & Services
12,376 visits/mo
0.0 miles
Family Dollar
Shops & Services
6,135 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
2,177 visits/mo
0.4 miles
Mi Pueblo Food Center
Groceries
1,012 visits/mo
0.5 miles
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
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?
NNN property - Dollar General occupies a masonry building under an NN+ lease with a recently exercised renewal option.
Where is this nnn property located?
The property is located at 400 BROAD ST Central Falls, RI.
What is the asking price?
The asking price for this property is $2,098,593.
What are key features of this property?
This property features: Dollar General tenant at 400 Broad St, Central Falls, RI 02863; 12,615 SF building constructed in 1948; 0.86‑acre corner parcel with 32 parking spaces
