115 W Lincoln Hwy - Storefront FOR SALE


Nevada, IA 50201
$2,265,000 USD
703-787-4733
115 W Lincoln Hwy, Nevada, IA for Sale
$2,265,000 USD
Storefront - FOR SALE
1/5
null | 7% Cap Rate

115 W Lincoln Hwy
Nevada, IA 50201


OVERVIEW

• The tenant, Dollar General, recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site • The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation • The lease is guaranteed by Dollar General Corporation (S&P: BBB) • Tenant pays for CAM, insurance and maintains all aspects of the premises • Landlord responsibilities include taxes (reimbursed by tenant) • Ideal, low-management investment for a passive investor • Brand new 2024 construction featuring high quality materials, distinct Dollar General Market design elements, and state-of-the-art features • The Dollar General Market is located near the signalized, hard-corner intersection of Lincoln Highway and 6th Street • The site benefits from its close proximity to US Highway 30, a major thoroughfare averaging over 16,300 vehicles passing daily • The asset benefits from excellent visibility via significant street frontage and a large pylon sign • The asset is located in a dense retail corridor, with numerous nearby national/credit tenants including Starbucks, McDonald’s, Subway, Anytime Fitness, Ace Hardware, State Farm, HR Block, and more • In addition, Dollar General Market is located in close proximity to a shopping corridor that features national/credit tenants such as McDonald’s, Dollar General, Casey’s, and Anytime Fitness, further increasing consumer traffic to the site • Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site • The 10-mile trade area is supported by approximately 62,600 residents and 41,200 employees, providing a direct consumer base from which to draw • Residents within 5 miles of the subject property boast an affluent average household income of $106,384 • Nevada is located approximately 10 miles from Iowa State University, which had a student population of 30,177 in 2023

FOR SALE DETAILS

PRICE

$2,265,000 USD

PRICE/SF

$117 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - Nevada, IA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

NEC

APN/PARCEL ID

11-06-370-200

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
703-787-4733

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Andrew FallonSRS Real Estate PartnersMore Info
703-787-4733

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