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1212 24th St 9,014 SF Retail Building Eldora, IA 50627 $590,625 ($65.52/SF) 8% Cap Rate
Investment Highlights
- Recent parking lot and exterior lighting improvements
- Part of National Insurance Program (Tenant pays insurance directly)
- Dollar General reimburses in full for taxes
- (2) 5-year extension options remaining at 10% increases
- Dollar General responsible for minor repairs less than $500 per occurrence
- Dollar General pays additional percentage rent at this location
Executive Summary
The subject property is a freestanding 9,014 SF building in Grundy Center, Iowa. The property is ideally situated along Hwy-175 on the western edge of town. Dollar General has occupied the space since it was built in 2004. The store recently extended its lease for an additional 6 years, thus showing a strong commitment to the location.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,014 SF
Building Class
C
Year Built
2004
Price
$590,625
Price Per SF
$65.52
Cap Rate
8%
NOI
$47,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
0.99 AC
Zoning
Commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business started by J.L. Turner and Cal Turner Sr., and the first Dollar General store opened in the mid-1950s. The company operates a discount retail model through Dollar General, DG Market, DGX, and pOpshelf formats, serving customers with food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, seasonal décor, private brands, and national labels. Dollar General supports online shopping and positions itself around affordable everyday goods and community-focused services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 8719-07-153-007 | Improvements Assessment | $537,420 |
| Land Assessment | $14,850 | Total Assessment | $552,270 |
Property Taxes
Parcel Number
8719-07-153-007
Land Assessment
$14,850
Improvements Assessment
$537,420
Total Assessment
$552,270
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Map
Contact the Sale Advisor
1212 24th St