106 N Locust St - Storefront FOR SALE


Jefferson, IA 50129
$475,000 USD
888-220-0988
106 N Locust St, Jefferson, IA for Sale
$475,000 USD
Storefront - FOR SALE
1/4
null | 7.81% Cap Rate

106 N Locust St
Jefferson, IA 50129


OVERVIEW

Investment property with a long-term lease with Dollar General in place. Dollar General has a 23 year operating history with the original lease commencing in November of 2001. Lease renewed on 11/01/2023 and will expire on 10/31/2028. There is (1) 5-year renewal remaining extending the lease to 10/31/2033. Renewal calls for a 5.00% rent bump. Lease terms are NN with Dollar General reimbursing for real estate taxes, property insurance, parking lot maintenance and snow removal. Landlord is responsible for all structural building components and HVAC replacement. Dollar General is responsible for glass, interior maintenance and upkeep as well as minor repairs and maintenance to HVAC. See Flyer for additional lease details. Advertised NOI is $37,100 resulting in a cap rate of 7.81%.

FOR SALE DETAILS

PRICE

$475,000 USD

PRICE/SF

$41 USD /SF

CAP RATE

7.81%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Convenience Store, Freestanding, Showroom

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,588 SF

ZONING

CBC

APN/PARCEL ID

1108194006

ASK ABOUT THIS PROPERTY

Kyle PedersenPlatinum RealtyMore Info
888-220-0988

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Kyle PedersenPlatinum RealtyMore Info
888-220-0988

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.