Embree Group has closed escrow on a one acre parcel next to Home Depot on 3rd Street in Oroville, and plans to build a new Dollar General Store. The sale was brokered by Mike Donnelly of Coldwell Banker Commercial and Jason Read of CBRE.
This will be the second Dollar General Store to be built in Oroville. Another one is already under construction next to Jack in the Box near the corner of Lincoln and Oro Dam Blvd. Dollar General is in the midst of a massive expansion with plans to open up 600 stores in 35 states. Typically, once a store is completed, it is sold to investors at a price ranging from $2.2 million to $3.7 million with a 6.25% to 6.50% return on investment (Cap Rate). Currently there are Dollar General Stores being offered for sale in Quincy, Los Molinos and Weaverville. New stores in Paradise and Red Bluff have recently been sold.