Listed by Marcus & Millichap
$1,135,000
Dollar General
Details
APN 792329129014
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 8,064
Units 1
Cap Rate 7.00%
NOI $79,400
Tenancy Single
Lease Type NN+
Lease Term 10
Lease Expiration 08/31/2032
Remaining Term 6.1
Rent Bumps Yes
Lease Options Five, Five Year Options
Price per SqFt $141
Year Built 1996
Year Renovated 2022
Stories 1
Acreage 0.650
Tenant Credit Corporate Guarantee
Lease Commencement 08/26/2022
Ground Lease No
About This Property for Sale
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 MoinesStore 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) and $1,390,000
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$79,400.00
$6,616.67/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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