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32018192

3261 E EUCLID AVE, DES MOINES, IA 50317

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap
$1,135,000
37 days on market
Updated 37 days ago

Dollar General

Details
APN 792329129014
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 8,064
Units 1
Cap Rate 7%
NOI $79,400
Tenancy Single
Brand/Tenant Dollar General
Lease Type NN
Lease Expiration 08/30/2032
Remaining Term 6.2
Rent Bumps Yes
Price per SqFt $141
Year Built 1996
Year Renovated 2022
Stories 1
Acreage 0.650
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/25/2022
Ground Lease No

About This Property

Investment highlights

NN Lease with 6.5 Years Remaining - Former Family Dollar Converted to Dollar General in 2022

Landlord is Responsible for Roof, Structure and Parking Lot Replacement

Located Less Than Six Miles from Downtown Des Moines

Store is Positioned Directly Next Door to McDonald’s and on a Dense Retail Corridor with Other National Tenants Including Goodwill, Little Ceasars, Wendys, KFC, Subway, Walgreens, Bank of America, Wells Fargo as well as Other Local and Medical Tenants and a Strong Industrial Presence

Store is Ranked Top 20% in the State of Iowa (Placer.ai)

Less Than Seven Miles from Drake University (Enrollment of Approximately 5,000 Students)

Located on the Main Corridor in the Area (14,600+ VPD and Directly Off of I-235 Exit Which Sees 59,000+ VPD)

Infill Location and More Than 127,000 People Within a Five Mile Radius

Local Area Includes a Dense Residential Presence with More Than 50,000 Households in Five Miles

Tenant is Responsible for HVAC Repair and Replacement

Tenant Supplies $300 per Month Towards CAM

Tenant Fully Reimburses for Snow & Ice Removal and Real Estate Taxes

Store is Part of Dollar General’s National Insurance Program

2025 Total Assessed Value According to Polk County Assessor (Building and Land) is $1,390,000

Listing Contacts

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$79,400.00
$6,616.67/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Jon Ruzicka
License
B63379000
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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