Dollar General Retail
For Sale
Contact for pricing
407 E MEMORIAL BLVD, Lakeland, FL 33801
Retail property with an identified Dollar General association and a documented lease extension.
Property Size11,115 SF
Price / SF$236.44
Days on Market132
Property Features for 407 E MEMORIAL BLVD
General Information
Standard status
Active
Size
11,115 SF
Property subtype
Retail
Lease Type
NN
Net Operating Income
$170,838
Building Details
Year Built
2001
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap
(813) 387-4726
Listed By:
Reid Thedford · License #FL SL3442474
Source:
Crexi
Added: Apr 23
Changed: Aug 31
Last Checked: Aug 31 at 12:36AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This retail space is identified with Dollar General and is located at 407 E Memorial Blvd in Lakeland, Florida. The property size is listed as 11,115, and the building was constructed in 2001.
The available property information notes a lease extension and a long operating history. No additional building configuration or site details are provided.
The available property information notes a lease extension and a long operating history. No additional building configuration or site details are provided.
Key Highlights
- Dollar General retail space
- Property size listed as 11,115
- Built in 2001
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
$124,821
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
4.75%
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%
$2,496,420
$2.5M
Cap Rate 7%
$1,783,157
$1.8M
Cap Rate 9%
$1,386,900
$1.4M
Market Conditions
NOI Build-Up for 11,115 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
$193.4K $17.40/SF
− Vacancy
−$15.1K −$1.36/SF
EGI
$178.3K $16.04/SF
− OpEx
−$53.5K −$4.81/SF
NOI
$124.8K $11.23/SF
Area
Lakeland, FL
Vacancy
7.80%
Lease Rate
$17.40 /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%
$2,496,420
Cap Rate 7%
$1,783,157
Cap Rate 9%
$1,386,900
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,821 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $186,972 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,690
Businesses Nearby
115k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 37%
Groceries 5%
Electronics 3%
McDonald's
Dining
22,127 visits/mo
0.1 miles
7-Eleven
Shops & Services
20,624 visits/mo
0.2 miles
Checkers
Dining
9,142 visits/mo
0.4 miles
Dollar General
Shops & Services
7,355 visits/mo
0.1 miles
Krystal
Dining
7,252 visits/mo
0.1 miles
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with an identified Dollar General association and a documented lease extension.
Where is this retail space located?
The property is located at 407 E MEMORIAL BLVD Lakeland, FL.
What is the asking price?
The asking price for this property is $2,628,000.
What are key features of this property?
This property features: Dollar General retail space; Property size listed as 11,115; Built in 2001
