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200 E South St 7,200 SF Retail Building Mount Ayr, IA 50854 $612,828 ($85.12/SF) 7.25% Cap Rate
Investment Highlights
- Roof sealing (2024) & recent parking lot improvements
- Part of National Insurance Program (Tenant pays insurance directly)
- (2) 5-year extension options remaining at 10% increases
- Dollar General responsible for minor repairs less than $1000 per occurrence
Executive Summary
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,200 SF
Building Class
B
Year Built
2002
Price
$612,828
Price Per SF
$85.12
Cap Rate
7.25%
NOI
$44,431
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.76 AC
Zoning
Commercial
Frontage
132’ on South St
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 006421 | Improvements Assessment | $475,187 |
| Land Assessment | $31,152 | Total Assessment | $506,339 |
Property Taxes
Parcel Number
006421
Land Assessment
$31,152
Improvements Assessment
$475,187
Total Assessment
$506,339
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200 E South St
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