Dollar General NNN
For Sale
Contact for pricing
4045 Randleman Rd, Greensboro, NC 27406
Retail property featuring an absolute NNN lease with a long remaining term.
Property Size9,002 SF
Lot Size1.74 Acres
Price / SF$183.39
Days on Market76
Property Features for 4045 Randleman Rd
General Information
Standard status
Active
Size
9,002 SF
Lot size
1.74 Acres
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$119,688
Financials
Asking Price
$1,650,868
Cap Rate
7.25%
Gross Income
$119,688
Building Details
Year Built
2021
Buildings
1
Tenancy
Single
Listing Agency:
Westwood Net Lease Advisors LLC
Listed By:
Chris Schellin · License #MO 2005017398
Source:
Crexi
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 30 at 5:42AM
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 Westwood Net Lease Advisors LLC
Investment Insights
Based on property information with market context.
The Dollar General property comprises a 9,002-square-foot building on 1.74 acres at 4045 Randleman Rd in Greensboro, North Carolina. Constructed in 2021, the asset is subject to an absolute NNN lease that began September 9, 2021 and runs through September 30, 2036.
The property is identified as a retail asset and carries a 7.25% cap rate. Its Greensboro address places the building within the 27406 ZIP code.
The property is identified as a retail asset and carries a 7.25% cap rate. Its Greensboro address places the building within the 27406 ZIP code.
Key Highlights
- 9,002‑square‑foot building on 1.74 acres
- Absolute NNN lease runs through September 30, 2036
- Lease commenced September 9, 2021
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
$109,010
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
6.60%
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%
$2,180,200
$2.2M
Cap Rate 7%
$1,557,286
$1.6M
Cap Rate 9%
$1,211,222
$1.2M
Market Conditions
NOI Build-Up for 9,002 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
$162.0K $18.00/SF
− Vacancy
−$16.7K −$1.85/SF
EGI
$145.3K $16.15/SF
− OpEx
−$36.3K −$4.04/SF
NOI
$109.0K $12.11/SF
Area
Greensboro, NC
Vacancy
10.30%
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%
$2,180,200
Cap Rate 7%
$1,557,286
Cap Rate 9%
$1,211,222
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $109,010 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$1.45M
$1.27M – $1.70M
NOI $101,742 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,749 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,717 visits/mo
0.0 miles
Valero Energy
Shops & Services
3,612 visits/mo
0.1 miles
Sunoco
Shops & Services
2,794 visits/mo
0.1 miles
Demographics for 27406, NC
61,597
Population
28,080
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
69.4 sq mi
ZIP Area
888
Density / Sq Mi
$56,748
Median Household Income
$37,095
Median Earnings
$1,103
Median Rent
$191,800
Median Home Value
Market
Vacancy Rate% for Retail in Greensboro, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Retail property featuring an absolute NNN lease with a long remaining term.
Where is this nnn property located?
The property is located at 4045 Randleman Rd Greensboro, NC.
What is the asking price?
The asking price for this property is $1,650,868.
What are key features of this property?
This property features: 9,002‑square‑foot building on 1.74 acres; Absolute NNN lease runs through September 30, 2036; Lease commenced September 9, 2021
