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Family Dollar (Dark) 1099 N Cole St 10,500 SF Retail Building Bushnell, IL 61422 $1,147,674 ($109.30/SF) 10.75% Cap Rate
Investment Highlights
- Family Dollar is Dark but Still Paying Rent
- 2023 BTS Construction | 10 Mile Population 7,090
- Across From Brand New Dollar General Market | On Main Thoroughfare
- 10 Year NN Lease Requiring Minimal Landlord Responsibilities
- Corner Location | Concrete Parking Lot
- 2,686 Cars Per Day at Cole Street and Smith Street
Executive Summary
Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar located in Bushnell, Illinois. Family Dollar is dark but still paying rent per the Lease. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed. The store has completed construction in June 2023.
This building is highly visible as it is strategically positioned on the corner of Cole Street and Smith Street which sees 2,686 cars per day. It sits across the street from a new Dollar General Market store on the main thoroughfare through the city. The ten mile population from the site is 7,090 while the three mile average household income is $55,315 per year, making this location ideal for a new tenant. The Subject offering represents an ideal opportunity for a 1031 exchange buyer. This investment will offer a new owner continued success due to the desirable location, newer construction, with tons of potential!. List price reflects a 10.75% cap rate based on NOI of $123,375.
This building is highly visible as it is strategically positioned on the corner of Cole Street and Smith Street which sees 2,686 cars per day. It sits across the street from a new Dollar General Market store on the main thoroughfare through the city. The ten mile population from the site is 7,090 while the three mile average household income is $55,315 per year, making this location ideal for a new tenant. The Subject offering represents an ideal opportunity for a 1031 exchange buyer. This investment will offer a new owner continued success due to the desirable location, newer construction, with tons of potential!. List price reflects a 10.75% cap rate based on NOI of $123,375.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,500 SF
Building Class
B
Year Built
2023
Price
$1,147,674
Price Per SF
$109.30
Cap Rate
10.75%
NOI
$123,375
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.15 AC
Zoning
C-1 - Commercial
Parking
35 Spaces (3.33 Spaces per 1,000 SF Leased)
Frontage
239’ on Cole Street
Amenities
- Air Conditioning
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-000-069-15 | Improvements Assessment | $256,197 |
| Land Assessment | $2,389 | Total Assessment | $258,586 |
Property Taxes
Parcel Number
03-000-069-15
Land Assessment
$2,389
Improvements Assessment
$256,197
Total Assessment
$258,586
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Family Dollar (Dark) | 1099 N Cole St
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