Listed by CBRE - Des Moines
$555,375
200 E South St - Dollar General Portfolio
Details
Property Type Retail
Sub Type Grocery Store, Storefront
Square Footage 7,200
Cap Rate 8%
NOI $44,430
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type NN
Lease Expiration 10/31/2030
Remaining Term 4.4
Year Built 2002
Buildings 1
Stories 2
Acreage 0.860
Investment Type Value Add
Tenant Credit Corporate Guarantee
7,200 SF Investment Retail For Sale
Marketing description
The subject property is a freestanding 7,200 SF building in Mount Ayr, Iowa. The property is ideally situated along Hwy-169 in the center of town. Dollar General has occupied the space since it was built in 2002. The store recently extended its lease for an additional 6 years, thus showing a strong commitment to the location.
Sale Price: $555,375
NOI: $44,430
Cap Rate: 8.00%
Tenant: Dolgencorp, LLC
Guarantor: Corporate
Lease Type: NN
Lease Expiration: 10/31/2030
Investment highlights
– Roof sealing (2024) & recent parking lot improvements
– (2) 5-year extension options remaining at 10% increases
– Part of National Insurance Program (Tenant pays insurance directly)
– Dollar General responsible for minor repairs less than $1000 per occurrence
Listing Contacts
Listed by CBRE - Des Moines
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$44,430.00
$3,702.50/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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