Dollar General NNN
New
For Sale
$1,320,827
9063 State Route 201, Tipp City, OH 45371
A 2018 build-to-suit retail asset features a triple-net lease structure with tenant responsibility for taxes, insurance, and maintenance.
Property Size9,100 SF
Days on Market2
Property Features for 9063 State Route 201
General Information
Standard status
Active
Size
9,100 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
±7.9 YRS
Net Operating Income
$95,760
Building Details
Building Size
9,100 SF
Year Built
2018
Listing Agency:
Matthews
(813) 488-0853
Listed By:
Jake Lurie · License #SL3510801 (FL)
(813) 488-0853
Source:
Matthews
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:36AM
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 Matthews
Investment Insights
Based on property information with market context.
This 2018 build-to-suit property contains a 9,100-square-foot Dollar General store and is subject to a triple-net lease. Dollar General Corporation provides the corporate lease guarantee, and the tenant is responsible for property taxes, insurance, and maintenance under the lease structure.
The asset is located at 9063 State Route 201 in Tipp City, Ohio, 45371. Dollar General operates approximately 21,000 stores across 48 states, providing a nationally established retail platform. The company is publicly traded on the NYSE under the symbol DG and carries a BBB investment-grade credit rating from Standard & Poor’s.
The asset is located at 9063 State Route 201 in Tipp City, Ohio, 45371. Dollar General operates approximately 21,000 stores across 48 states, providing a nationally established retail platform. The company is publicly traded on the NYSE under the symbol DG and carries a BBB investment-grade credit rating from Standard & Poor’s.
Key Highlights
- 9,100 SF Dollar General store developed as a 2018 build‑to‑suit
- Triple‑net lease places responsibility for taxes, insurance, and maintenance with Dollar General
- Corporate lease guarantee from Dollar General Corporation
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
$101,892
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
7.71%
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%
$2,037,840
$2.0M
Cap Rate 7%
$1,455,600
$1.5M
Cap Rate 9%
$1,132,133
$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
$142.0K $15.60/SF
− Vacancy
−$6.1K −$0.67/SF
EGI
$135.9K $14.93/SF
− OpEx
−$34.0K −$3.73/SF
NOI
$101.9K $11.20/SF
Area
Miami County, OH
Vacancy
4.30%
Lease Rate
$15.60 /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%
$2,037,840
Cap Rate 7%
$1,455,600
Cap Rate 9%
$1,132,133
Alternative Uses
Best Use
Specialty Retail
$1.46M
$1.27M – $1.70M
NOI $101,892 @ 7.0% cap · market cap 7.71%
Second Best
Retail
$1.23M
$1.07M – $1.43M
NOI $85,857 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,826 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,422 visits/mo
0.0 miles
Demographics for 45371, OH
23,205
Population
9,301
Households
2.5
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
51.2 sq mi
ZIP Area
453
Density / Sq Mi
$89,425
Median Household Income
$53,051
Median Earnings
$1,154
Median Rent
$272,100
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 - A 2018 build-to-suit retail asset features a triple-net lease structure with tenant responsibility for taxes, insurance, and maintenance.
Where is this nnn property located?
The property is located at 9063 State Route 201 Tipp City, OH.
What is the asking price?
The asking price for this property is $1,320,827.
What are key features of this property?
This property features: 9,100 SF Dollar General store developed as a 2018 build‑to‑suit; Triple‑net lease places responsibility for taxes, insurance, and maintenance with Dollar General; Corporate lease guarantee from Dollar General Corporation
