Dollar General NNN Retail
For Sale
Contact for pricing
5901 6th Street Frontage Road E, Springfield, IL 62703
Corporate-backed retail occupancy at an interstate-accessible Springfield location near the University of Illinois-Springfield.
Property Size9,100 SF
Price / SF$152.60
Days on Market113
Property Features for 5901 6th Street Frontage Road E
General Information
Standard status
Active
Size
9,100 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$97,206
Site & Location
Traffic Count
46,300 vehicles/day
Highway Access
Yes
Building Details
Year Built
2018
Tenancy
Single
Listing Agency:
Westwood Net Lease Advisors LLC
Listed By:
Chris Schellin · License #MO 2005017398
Source:
Crexi
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 3:06AM
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.
Located at 5901 6th Street Frontage Road E. in Springfield, Illinois, this 9,100-square-foot retail property was built in 2018 and is occupied by Dollar General. The lease carries a corporate guaranty from Dollar General Corporation.
The property sits just off I-55 at an interstate-oriented location reporting 46,300 cars per day. The University of Illinois-Springfield is located only 2+ miles away and has 4,300+ students. Nearby retailers include McDonald's, Cracker Barrel, Circle K, Wendy's, Taco Bell, and Subway. The surrounding area includes almost 70,000 people within a 5-mile radius.
The property sits just off I-55 at an interstate-oriented location reporting 46,300 cars per day. The University of Illinois-Springfield is located only 2+ miles away and has 4,300+ students. Nearby retailers include McDonald's, Cracker Barrel, Circle K, Wendy's, Taco Bell, and Subway. The surrounding area includes almost 70,000 people within a 5-mile radius.
Key Highlights
- 9,100‑square‑foot Dollar General retail property built in 2018
- Lease supported by a corporate guaranty from Dollar General Corporation
- Located just off I‑55 with 46,300 cars per day
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
$105,487
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
7.60%
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%
$2,109,740
$2.1M
Cap Rate 7%
$1,506,957
$1.5M
Cap Rate 9%
$1,172,078
$1.2M
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
$163.8K $18.00/SF
− Vacancy
−$13.1K −$1.44/SF
EGI
$150.7K $16.56/SF
− OpEx
−$45.2K −$4.97/SF
NOI
$105.5K $11.59/SF
Area
Springfield, IL
Vacancy
8.00%
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%
$2,109,740
Cap Rate 7%
$1,506,957
Cap Rate 9%
$1,172,078
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,487 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.61M
NOI $156,396 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
46,300 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 62703, IL
28,344
Population
14,320
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
14.9 sq mi
ZIP Area
1,902
Density / Sq Mi
$44,580
Median Household Income
$36,345
Median Earnings
$971
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate-backed retail occupancy at an interstate-accessible Springfield location near the University of Illinois-Springfield.
Where is this nnn property located?
The property is located at 5901 6th Street Frontage Road E Springfield, IL.
What is the asking price?
The asking price for this property is $1,388,658.
What are key features of this property?
This property features: 9,100‑square‑foot Dollar General retail property built in 2018; Lease supported by a corporate guaranty from Dollar General Corporation; Located just off I‑55 with 46,300 cars per day
