Building Details

Year Built 2017

Listing Agency: Hanna Commercial Real Estate | Buffalo Show Phone

Listed By: Joseph Deck · License #30DE0804140 Show Phone

Source: Moodyscre

Added: Jul 22 Changed: Sep 11 Last Checked: Sep 14 at 9:01AM

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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 Hanna Commercial Real Estate | Buffalo

Investment Insights

Based on property information with market context.

This freestanding retail property was newly constructed in 2017 and is offered for sale on an absolute triple net (NNN) lease basis, with no landlord responsibilities. The current tenant is Dollar General, and the offering includes a corporate guaranty from an investment grade tenant. The lease also provides (4) five-year options to extend, with 10% rent increases at each option.

The property is located at 4290 State Route 87 in Farmdale, Ohio. Nearby tenants listed include the U.S. Post Office, Ends of the Commons - General Store, Kuhns Manufacturing, Mesopotamia Filling Station, and the Mespo Expo Center.

For investors and buyers seeking portfolio alignment, this asset is part of a larger offering that also includes 12375 Mayfield Rd in Chardon and 10701 Mahoning Ave in North Jackson.

Key Highlights

• New 2017 construction retail property fully leased under an absolute triple net (NNN) structure
• Tenant is Dollar General (NYSE: DG) with a BBB credit rating
• Investment‑grade tenant provides a corporate guaranty; no landlord responsibilities noted

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

$98,075

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

8.38%

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%

$1,961,500 $2.0M

Cap Rate 7%

$1,401,071 $1.4M

Cap Rate 9%

$1,089,722 $1.1M

Market Conditions

NOI Build-Up for 9,100 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

$136.5K $15.00/SF

− Vacancy

−$5.7K −$0.63/SF

EGI

$130.8K $14.37/SF

− OpEx

−$32.7K −$3.59/SF

NOI

$98.1K $10.78/SF

Area

Trumbull County, OH

Vacancy

4.20%

Lease Rate

$15.00 /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%

$1,961,500

Cap Rate 7%

$1,401,071

Cap Rate 9%

$1,089,722

Alternative Uses

Best Use

Specialty Retail

$1.40M

$1.23M – $1.63M (±1% cap)

NOI $98,075 @ 7.0% cap · market cap 8.38%

Second Best

Retail

$1.26M

$1.10M – $1.46M (±1% cap)

NOI $87,875 @ 7.0% cap · market cap 7.51%

Theoretical Best

Office A

$1.73M

$1.51M – $2.02M (±1% cap)

NOI $120,906 @ 7.0% cap · market cap 10.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Big Box & Wholesale Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 44439, OH

577

Population

152

Households

3.8

Avg Household Size

26

Median Age

4%

College-Educated

62%

High-School Grad

2.9 sq mi

ZIP Area

199

Density / Sq Mi

$65,500

Median Household Income

$34,333

Median Earnings

$818

Median Rent

$168,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

NNN property - New 2017 construction retail property is fully leased under an absolute triple net structure.

Where is this nnn property located?

The property is located at 4290 State Route 87 Farmdale, OH.

What is the asking price?

The asking price for this property is $1,170,000.

What are key features of this property?

This property features: New 2017 construction retail property fully leased under an absolute triple net (NNN) structure; Tenant is Dollar General (NYSE: DG) with a BBB credit rating; Investment‑grade tenant provides a corporate guaranty; no landlord responsibilities noted