Newly Built Dollar General
For Sale
Contact for pricing
Pending
791 Cheri Circle, Whitwell, TN 37397
2022-built larger-format Dollar General with wider aisles and room for expanded home goods merchandise on 1.78 acres.
Property Size10,566 SF
Lot Size1.78 Acres
Days on Market101
Property Features for 791 Cheri Circle
General Information
Standard status
Pending
Size
10,566 SF
Total Parking Spaces
32
Lot size
1.78 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$100,000
Building Details
Year Built
2022
Tenancy
Single
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Steve Sauter · License #CA 01084092
Source:
Crexi
Added: May 28
Changed: Aug 8
Last Checked: Jul 24 at 5:21PM
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 - Palo Alto
Investment Insights
Based on property information with market context.
A newly constructed Dollar General store (2022) offers a larger-format retail layout with wider aisles and dedicated space for expanded merchandise, including home goods. The property contains approximately 10,566 square feet of retail space situated on about 1.78 acres.
The store is located in Whitwell, Tennessee, a growing satellite community of Chattanooga. The public remarks note the local Victoria area is about 25 minutes from downtown Chattanooga, with a reported city population of 191,500. Within a 5-mile radius, there are reported 7,299 residents, and Marion County is described as experiencing population growth of 1.22%.
For investors or operators seeking a credit-backed, single-tenant NNN structure, the lease is described as absolute NNN and is backed by Dollar General Corporation (NYSE:DG). The lease provides for 10% fixed rent increases at the beginning of each 5-year option period. Dollar General is reported to have a store count of 20,500+ across 48 states, with more than 80 years in business. Reported Year 2025 gross sales are stated as $40.6 billion, and the company’s Standard & Poor’s credit rating is listed as BBB, with Fortune 500 status.
The store is located in Whitwell, Tennessee, a growing satellite community of Chattanooga. The public remarks note the local Victoria area is about 25 minutes from downtown Chattanooga, with a reported city population of 191,500. Within a 5-mile radius, there are reported 7,299 residents, and Marion County is described as experiencing population growth of 1.22%.
For investors or operators seeking a credit-backed, single-tenant NNN structure, the lease is described as absolute NNN and is backed by Dollar General Corporation (NYSE:DG). The lease provides for 10% fixed rent increases at the beginning of each 5-year option period. Dollar General is reported to have a store count of 20,500+ across 48 states, with more than 80 years in business. Reported Year 2025 gross sales are stated as $40.6 billion, and the company’s Standard & Poor’s credit rating is listed as BBB, with Fortune 500 status.
Key Highlights
- 2022‑built, larger‑format Dollar General store with +/-10,566 SF on +/-1.78 acres in Whitwell, TN
- Larger‑format design includes wider aisles and dedicated space for expanded home goods merchandise
- Absolute NNN lease with 10% fixed rent increases at the beginning of each 5‑year option period
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
$98,327
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
6.73%
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%
$1,966,540
$2.0M
Cap Rate 7%
$1,404,671
$1.4M
Cap Rate 9%
$1,092,522
$1.1M
Market Conditions
NOI Build-Up for 10,566 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
$139.5K $13.20/SF
− Vacancy
−$8.4K −$0.79/SF
EGI
$131.1K $12.41/SF
− OpEx
−$32.8K −$3.10/SF
NOI
$98.3K $9.31/SF
Area
Sequatchie County, TN
Vacancy
6.00%
Lease Rate
$13.20 /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%
$1,966,540
Cap Rate 7%
$1,404,671
Cap Rate 9%
$1,092,522
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,327 @ 7.0% cap · market cap 6.73%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,654 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,349 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37397, TN
9,928
Population
4,709
Households
2.1
Avg Household Size
44
Median Age
14%
College-Educated
80%
High-School Grad
149.3 sq mi
ZIP Area
66
Density / Sq Mi
$55,776
Median Household Income
$33,569
Median Earnings
$754
Median Rent
$160,700
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?
Grocery and convenience store - 2022-built larger-format Dollar General with wider aisles and room for expanded home goods merchandise on 1.78 acres.
Where is this grocery and convenience store located?
The property is located at 791 Cheri Circle Whitwell, TN.
What is the asking price?
The asking price for this property is $1,460,000.
What are key features of this property?
This property features: 2022‑built, larger‑format Dollar General store with +/-10,566 SF on +/-1.78 acres in Whitwell, TN; Larger‑format design includes wider aisles and dedicated space for expanded home goods merchandise; Absolute NNN lease with 10% fixed rent increases at the beginning of each 5‑year option period
