Building Details

Year Built 2026

Buildings 1

Tenancy Single

Listing Agency: Marcus & Millichap - Orange County

Listed By: Kyle Blatt · License #CA 02017976

Source: Crexi

Added: Jun 1 Changed: Sep 3 Last Checked: Sep 7 at 10:59AM

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Investment Insights

Based on property information with market context.

This is a brand-new build-to-suit 2026 Dollar General Market in Ford, Virginia, totaling 10,640 square feet. The property is offered under a 15-year absolute NNN lease structure, with the lease guaranteed by Dollar General Corporation (NYSE: DG, BBB/Baa3).

The building is located on U.S. Route 460, identified as the primary east-west corridor connecting the Petersburg MSA to Lynchburg and Roanoke. The site is positioned approximately 20 miles west of Petersburg within the Fort Lee/Fort Pickett military trade area.

For investors seeking a single-tenant, long-term retail lease, this offering pairs a new construction asset with an absolute NNN commitment backed by the corporate guaranty from Dollar General. The specialty retail nature of the property is designed around the tenant’s grocery and convenience market format, supporting an operating profile consistent with Dollar General’s business model over the lease term.

Key Highlights

• 10,640 SF brand‑new 2026 Dollar General retail building (Year built: 2026)
• 15‑year absolute NNN lease guaranteed by Dollar General Corporation
• Located on U.S. Route 460, the primary east‑west corridor between the Petersburg MSA and Lynchburg/Roanoke

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

$138,038

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

5.76%

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%

$2,760,760 $2.8M

Cap Rate 7%

$1,971,971 $2.0M

Cap Rate 9%

$1,533,756 $1.5M

Market Conditions

NOI Build-Up for 10,640 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

$197.9K $18.60/SF

− Vacancy

−$13.9K −$1.30/SF

EGI

$184.1K $17.30/SF

− OpEx

−$46.0K −$4.32/SF

NOI

$138.0K $12.97/SF

Area

Dinwiddie County, VA

Vacancy

7.00%

Lease Rate

$18.60 /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%

$2,760,760

Cap Rate 7%

$1,971,971

Cap Rate 9%

$1,533,756

Alternative Uses

Best Use

Specialty Retail

$1.97M

$1.73M – $2.30M (±1% cap)

NOI $138,038 @ 7.0% cap · market cap 5.76%

Second Best

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,126 @ 7.0% cap · market cap 4.84%

Theoretical Best

Office A

$2.46M

$2.15M – $2.87M (±1% cap)

NOI $172,074 @ 7.0% cap · market cap 7.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply Auto Repair Shop Auto Parts Store Big Box & Wholesale Store Discount Store Department Store

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 23850, VA

1,081

Population

666

Households

1.6

Avg Household Size

49

Median Age

13%

College-Educated

93%

High-School Grad

45.9 sq mi

ZIP Area

24

Density / Sq Mi

$80,809

Median Household Income

$44,769

Median Earnings

$260,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 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 10,640 SF Dollar General retail building with a 15-year absolute NNN lease guaranteed by Dollar General Corporation.

Where is this nnn property located?

The property is located at 8720 Claystreet Road Ford, VA.

What is the asking price?

The asking price for this property is $2,398,000.

What are key features of this property?

This property features: 10,640 SF brand‑new 2026 Dollar General retail building (Year built: 2026); 15‑year absolute NNN lease guaranteed by Dollar General Corporation; Located on U.S. Route 460, the primary east‑west corridor between the Petersburg MSA and Lynchburg/Roanoke