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- LoopNet Team
201 Drake Ave
Centerville, IA 52544
Dollar Tree · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate guaranteed lease
- Double-net (NN) Lease
- Below market cap rate
- Largest single price point retailer in North America
- 6+ years remaining on lease & four 5-year renewal options
- Fully renovated in 2018 including new roof with 20 year warranty, resurfaced parking lot and new HVAC & electrical
PROPERTY FACTS
ABOUT 201 DRAKE AVE , CENTERVILLE, IA 52544
CBRE|Hubbell Commercial is the exclusive advisor for this Double-Net Dollar Tree investment sale located in Centerville, Iowa. This investment consists of a repurposed 9,180 square foot retail building that includes a fresh seven year Double-Net (NN) Lease with Dollar Tree Store, Incorporated. This is a corporately guaranteed Dollar Tree lease providing for long-term stabilized income that also includes four, five-year options and are hedged by fifty cent rent increases. The subject property benefits from being located along the primary retail corridor which include the following national retailers such as Walmart Supercenter, True Value Hardware, Pizza Hut, McDonald’s, Sonic Drive-In, O’Reilly Auto Parts, NAPA Auto Parts. Additional national retailers in the immediate 3 block vicinity include: ALDI, Hardee’s, KFC, USPS, Fareway Grocery, and US Bank.
PROPERTY TAXES
| Parcel Number | 340011040100000 | Improvements Assessment | $520,140 |
| Land Assessment | $33,730 | Total Assessment | $553,870 |
PROPERTY TAXES
