1610 N 2nd St - Retail FOR SALE


Cherokee, IA 51012
$1,654,000 USD
678-808-2762
1610 N 2nd St, Cherokee, IA for Sale
$1,654,000 USD
Retail - FOR SALE
1/3
null | 7.75% Cap Rate

1610 N 2nd St
Cherokee, IA 51012


OVERVIEW

INVESTMENT GRADE TENANT (S&P: BBB) • Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB. • Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion. 9 YEAR CORPORATE LEASE • Family Dollar Tree renovated a former hardware store and signed a new 10 year lease that commenced in February 2023. • There are approximately 8.5 years left on a 10-year corporate guaranteed NN Lease with Family Dollar Tree. • Tenant is responsible for Routine Parking Lot Maintenance, Parking Lot Restriping, Landscaping, HVAC, Insurance, Taxes, and Utilities. • The Landlord responsibilities include Roof, Structure and Parking Lot. • The rent increases $0.50/SF in each of the Five, 5-year option periods. NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA • Cherokee is located 1 hour east of downtown Sioux City, IA. • Sioux City is located in the northwestern part of the state and is the fourth largest city in IA with an MSA population of 149,940. • Sioux City is at the navigational head, or the furthest upstream point to which general cargo ships can travel, of the Missouri River. • There are 6 colleges located in Sioux City and 33 within 100 miles enrolling a total of 105,248 students. • Sioux Gateway Airport serves both domestic and international flights and welcomes over 200,000 passengers annually. • National Retailers in Sioux City include Target, Lowe’s Home Improvement, Home Depot, Hobby Lobby, Sam’s Club and more. CHEROKEE | COUNTY SEAT OF CHEROKEE COUNTY • This Family Dollar Tree is located on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, IA. • Cherokee is the county seat of Cherokee county and benefits from government buildings and jobs. • This store is directly across the street from Western Iowa Tech College with over 500 students enrolled. • A 635,000 SF Hy-Vee Distribution center is located in Cherokee and has more than 610 employees. • Cherokee Regional Medical Center is less than 1 mile away and has 275 staff members. • National retailers within 1 mile of this store include McDonalds, O’Reilly Auto Parts, Dairy Queen and more.

FOR SALE DETAILS

PRICE

$1,654,000 USD

PRICE/SF

$66 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar Tree | County Seat Location

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.93 AC

LAND SF

214,751 SF

ZONING

C-1

APN/PARCEL ID

7-22-402-011

ASK ABOUT THIS PROPERTY

Don McMinnMarcus & MillichapMore Info
678-808-2762

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Don McMinnMarcus & MillichapMore Info
678-808-2762

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