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2009 Commerce Dr 9,014 SF 100% Leased Retail Building Grundy Center, IA 50638 $620,690 ($68.86/SF) 7.25% Cap Rate
Investment Highlights
- Interior remodel (2024) & recent parking lot repair work
- Part of National Insurance Program (Tenant pays insurance directly)
- Dollar General reimburses in full for taxes
- (2) 5-year extension options remaining at $3,000 increases
- Dollar General responsible for minor repairs less than $1000 per occurrence
Executive Summary
The subject property is a freestanding 9,014 SF building in Grundy Center, Iowa. The property is ideally situated along Hwy-14 on the western edge of town. Dollar General has occupied the space since it was built in 2004. The store completed an interior remodel in 2024 and extended its lease, thus showing a strong commitment to the location.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
9,014 SF
Building Class
C
Year Built
2004
Price
$620,690
Price Per SF
$68.86
Cap Rate
7.25%
NOI
$45,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.25
Lot Size
0.83 AC
Zoning
Commercial
Frontage
150’ on COMMERCE DR
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 | - | - | - |
Property Taxes
| Parcel Number | 871711426004 | Improvements Assessment | $422,080 |
| Land Assessment | $49,560 | Total Assessment | $471,640 |
Property Taxes
Parcel Number
871711426004
Land Assessment
$49,560
Improvements Assessment
$422,080
Total Assessment
$471,640
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2009 Commerce Dr
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