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2009 Commerce Dr 9,014 SF 100% Leased Retail Building Grundy Center, IA 50638 $562,500 ($62.40/SF) 8% 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
$562,500
Price Per SF
$62.40
Cap Rate
8%
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 began in 1939 as a wholesale venture and later opened its first store in 1955, growing into a discount retail business focused on everyday essentials. The company sells food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, paper products, and seasonal items, and it also offers products online. Dollar General operates as a broad neighborhood retail chain with a presence across the United States and Mexico, serving shoppers through convenient store formats and an e-commerce channel.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
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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