Dollar General NNN Properties for Sale (8 Listings)
8 active listings · Updated August 24, 2026
Dollar General NNN properties for sale are the volume workhorse of 1031 identification lists: about 20,000 stores, a new-store pipeline that has run for three decades, and more listings at any moment than any other single tenant in America. BBB corporate credit at 6.5–8% caps is the obvious bid — the gap between a durable DG store and a weak one is where the underwriting earns its fee.
Quick Facts
- Typical cap range
- 6.50–8.00%
- Lease type
- Absolute NNN (new prototype)
- Typical term
- 15 yr
- Credit
- Corporate — investment grade; S&P BBB and Moody's Baa3 as of Q3 2026
- Guarantee
- Dolgencorp, LLC / Dollar General Corporation
Dollar General Listings
Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.
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What lease does a current Dollar General NNN store use?
The current standard: 15-year absolute-net primary term, four or five 5-year options with 10% steps, flat rent until the options begin. Tenant obligations include roof, structure, parking, and systems — the landlord's job is depositing rent. Older vintages differ materially (see FAQs), and the market also carries relocation-store leases, DG Market grocery-format deals up to 16,000 square feet, and the small-town "DGX" variant. Each format prices differently; the 9,100-square-foot standard prototype is the liquid benchmark. Count the months left on the primary term with the lease expiry calculator — an unexercised option is not term yet.
Who guarantees a Dollar General NNN lease?
Dollar General Corporation (NYSE: DG) guarantees through its Dolgencorp operating entity — rated BBB by S&P and Baa3 by Moody's (Q3 2026, re-confirm at contract), roughly $40B in annual revenue, and a customer base that trades down toward the chain in bad economies. Same-store sales stayed positive through 2008, 2020, and the 2022–24 inflation squeeze. Credit is the stable variable in every DG deal; real estate is the moving one.
What moves the cap rate on a Dollar General?
Lease vintage and structure lead (absolute-net 15-year paper versus NN leftovers), then term remaining, then market quality measured in Walmart drive-times and county growth. Geography adds its own layer: identical stores trade 50–75 basis points apart between 1031-heavy Sunbelt states and the upper Midwest, purely on buyer demand. Newer builds command premiums for construction quality — post-2020 prototypes with higher ceilings and cooler sections signal corporate's long-term intent for the site. When you have in-place income and a price, the cap rate calculator is that division. If the flyer income does not match the lease, rebuild the income in the NOI calculator before you trust the yield. Older NN paper that still bills the landlord for roof, taxes, or insurance is a different occupancy cost — price that load in the NNN lease calculator before you line it up with absolute-net DG.
What should you check before offering on Dollar General?
Buy the standard prototype on the main artery with 12+ years of term, confirm absolute-net language against the actual lease document, and check the rent against $8–12 per foot norms. Red flags: a second DG within a few miles (the chain will happily cannibalize its own aging site), sale-leaseback rent set above $13 per foot, metal buildings from the 1990s marketed on option-period hope, and towns whose sole employer announced a closure since the store opened. The FDIC gives you bank deposits; for DG towns, the county's own budget documents and school enrollment trends are the equivalent tell.
How does Dollar General compare with Dollar Tree and Tractor Supply?
Dollar Tree offers stronger suburban real estate with shorter typical terms; Family Dollar trades wider on its post-2025 private-equity ownership and store-level variance. The more interesting cross-shop is Tractor Supply — the same rural-America thesis expressed through a larger box, longer investment-grade lease, and lower cap rate. Investors who want a drive-thru pad on the same 1031 list, rather than this rural box, start with QSR NNN properties for sale. DG remains the sector's liquidity standard: whatever you pay going in, the exit market is the deepest in rural net lease.
What should you know before buying a Dollar General NNN property?
Most Dollar General NNN listings are a 9,100-square-foot prototype on a 15-year absolute-net lease, guaranteed by Dollar General Corporation through Dolgencorp, with cap rates of 6.5–8%. Rent is flat in the base term and steps 10% in each option. Older NN paper that leaves roof and structure with the landlord is a different deal.
Why can I get investment-grade Dollar General credit at a 7% cap?
You're being paid for the dirt, not the debtor. The guarantee is BBB corporate paper from a 20,000-store chain — but the building is a metal-frame box in a town of 3,500 where no second national tenant is waiting. The yield premium over a Starbucks or McDonald's is entirely re-lease risk. If the tenant performs for 15 years, the credit was identical; the market just made you 250 basis points richer for holding rural real estate.
What is the difference between old and new Dollar General leases?
Everything that matters. Post-2012 prototype deals are 15-year absolute-net — tenant replaces the roof, repaves the lot, handles structure. Earlier paper is often 10-year NN with landlord roof and structure on buildings now past their second decade. The market prices the difference at roughly 50 basis points; the roof bid you'll eventually get prices it more vividly. Always confirm which lease form you're buying.
Are flat rents during the base term a dealbreaker?
They're a known cost, not a hidden one. Standard DG leases run flat for the 15-year primary term with 10% bumps in each option. Your inflation protection is the going-in yield itself — which is why paying a sub-6 cap for a standard rural DG rarely makes sense. The exception: the newer 'DGX' urban and 'DG Market' grocery formats occasionally carry base-term escalations worth paying up for.
How do I evaluate a Dollar General town I've never heard of?
Measure gravity, not population. Drive-time to the nearest Walmart Supercenter (15+ minutes is the moat), the store's position on the through-road that carries the county's traffic, and how many competing dollar banners share the trade area. Corporate's site model already validated the town once — your job is confirming nothing changed and the chain didn't later open a second store three miles down the same highway.
What happens if Dollar General leaves at year 15?
Plan for it going in. Realistic backfills — regional discount chains, farm-supply, auto parts, county services — pay $4–7 per square foot against DG's typical $8–12. That's the arithmetic behind the cap-rate premium, and it's why basis matters: at $135 per foot all-in on a 9,100-foot building, a 40% rent haircut still leaves a functioning investment. At $210 per foot, it doesn't.
What does a typical Dollar General NNN listing include?
The liquid benchmark is the 9,100-square-foot prototype on absolute-net paper, guaranteed by Dolgencorp, with a 15-year primary term and 10% option steps. Cap rates on that form generally sit from 6.5% to 8%. A shorter NN lease that keeps roof and structure on the landlord is earlier paper and should be priced on its own terms, not like the current prototype.
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