Dollar General Investment
For Sale
Contact for pricing
3701 Legion Rd, Hope Mills, NC 28348
Dollar General store in Hope Mills, North Carolina for sale.
Property Size9,026 SF
Lot Size0.68 Acres
Price / SF$147.67
Days on Market1557
Property Features for 3701 Legion Rd
General Information
Standard status
Active
Size
9,026 SF
Lot size
0.68 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$93,303
Building Details
Year Built
2011
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Colliers - Fort Lauderdale, Florida
(561) 602-8390
Listed By:
Christopher Twist · License #FL
Source:
Crexi
Added: May 19, 2022
Changed: Aug 17
Last Checked: Aug 20 at 4:27PM
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 Colliers - Fort Lauderdale, Florida
Investment Insights
Based on property information with market context.
A Dollar General store, identified as store number 08242, is available for acquisition in Hope Mills, North Carolina. The building has a size of approximately 9,026 square feet and is situated on a lot of about 0.68 acres. The property is fully occupied by Dollar General, with a corporate guarantee. The lease expires on April 30, 2026, and includes five, five-year renewal options, each with a 10% rent increase. The landlord is responsible for the property's exterior, roof, and parking lot. Located six miles southwest of Fayetteville, the property benefits from its location on Legion Road, providing access to the I-95 Interchange to the northeast. The store offers high visibility and accessibility. The surrounding area has a population of 106,059 within a five-mile radius, with an average income of $62,639. The property can be purchased in conjunction with additional net-leased retail properties comprised of a nine-property portfolio.
Key Highlights
- Corporate guarantee from Dollar General.
- Located in Hope Mills, NC, near Fayetteville, with high visibility and easy accessibility on Legion Road.
- Lease expiration date of April 30, 2026, with 5, five‑year renewal options and 10% rent increases with each renewal.
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
$90,430
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
6.78%
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%
$1,808,600
$1.8M
Cap Rate 7%
$1,291,857
$1.3M
Cap Rate 9%
$1,004,778
$1.0M
Market Conditions
NOI Build-Up for 9,026 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
$124.6K $13.80/SF
− Vacancy
−$4.0K −$0.44/SF
EGI
$120.6K $13.36/SF
− OpEx
−$30.1K −$3.34/SF
NOI
$90.4K $10.02/SF
Area
Cumberland County, NC
Vacancy
3.20%
Lease Rate
$13.80 /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%
$1,808,600
Cap Rate 7%
$1,291,857
Cap Rate 9%
$1,004,778
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,430 @ 7.0% cap · market cap 6.78%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,071 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $150,978 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,570 visits/mo
0.1 miles
Citgo
Shops & Services
4,099 visits/mo
0.3 miles
Demographics for 28348, NC
37,476
Population
14,413
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
93%
High-School Grad
42.2 sq mi
ZIP Area
888
Density / Sq Mi
$65,213
Median Household Income
$39,270
Median Earnings
$1,111
Median Rent
$203,700
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 - Dollar General store in Hope Mills, North Carolina for sale.
Where is this grocery and convenience store located?
The property is located at 3701 Legion Rd Hope Mills, NC.
What is the asking price?
The asking price for this property is $1,332,913.
What are key features of this property?
This property features: Corporate guarantee from Dollar General.; Located in Hope Mills, NC, near Fayetteville, with high visibility and easy accessibility on Legion Road.; Lease expiration date of April 30, 2026, with 5, five‑year renewal options and 10% rent increases with each renewal.
