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200 E South St 7,200 SF Retail Building Mount Ayr, IA 50854 $555,375 ($77.14/SF) 8% 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
$555,375
Price Per SF
$77.14
Cap Rate
8%
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 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 | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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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Contact the Sale Advisor
200 E South St