Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3196 Old Stage Rd Riegelwood, NC 28456

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Family Dollar Net Lease, High Cap Rate

    Property size:
    9,180 SF

    Property Features for 3196 Old Stage Rd

    General Information

    Property type
    Retail space
    Square Feet
    9,180 SF
    Class
    A
    Lot Size
    58,806 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    David Hoppe
    David Hoppe

    Listing Agency: Atlantic Capital Partners Listing Agent: David Hoppe

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional investment opportunity presents a fee-simple ownership of a 9,180 square foot, single-story Class A convenience store in Riegelwood, North Carolina. The property, built in 2007 and situated on a 1.35-acre lot at 3196 Old Stage Rd, is currently 100% occupied by a Family Dollar store under a Net-Net lease with a corporate guarantee. The lease, originally commencing December 5, 2007, has a remaining term of approximately 3.1 years, with three 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $91,960, resulting in an attractive 7.75% capitalization rate. The asking price is $1,187,000, translating to $129.30 per square foot. This investment offers a strong, recession-resistant tenant with a proven track record and significant brand recognition, providing a passive income stream with built-in inflation protection. The property's long-term lease and the tenant's financial strength make this an ideal addition to any diversified real estate portfolio. The tenant has consistently occupied the premises since its construction, demonstrating a commitment to the location and its success. This is a rare opportunity to acquire a well-performing, established retail property with a highly desirable tenant in a stable market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Dental Office Auto Repair Shop Food Market Grocery & Convenience Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Shopping Center & Mall Arcade & Gaming Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Riegelwood
    County
    Columbus
    State
    North Carolina
    Longitude
    -78.227099
    Latitude
    34.3431435

    FAQs

    What type of property is this?
    Retail space - Family Dollar Net Lease, High Cap Rate
    Where is this retail space located?
    The property is located at 3196 Old Stage Rd Riegelwood, NC.
    What is the asking price?
    The asking price for this property is $1,187,000.
    What are key features of this property?
    This property features: 7.75% Cap Rate, Net-Net Lease with a recent 5-year lease extension by investment-grade tenant Family Dollar (BBB S&P rating).; Strong national tenant: Family Dollar, a subsidiary of Fortune 500 company Dollar Tree (DLTR), operating over 8,200 locations.; Recession-resistant business model: Essential business with proven e-commerce and discount merchandising strategies, showing recent same-store sales growth.
    (704) 375-7771 Call to check price and availability
    Request Owner's contact information
    3196 Old Stage Rd Riegelwood, NC 28456
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3196 Old Stage Rd
    Riegelwood, NC 28456
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3196 Old Stage Rd Riegelwood, NC 28456
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Hoppe
    David Hoppe
    Real Estate License ID: 288268
    (704) 375-7771
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!