325 6th St - Freestanding FOR SALE


Manning, IA 51455
$1,147,000 USD
513-300-0763
325 6th St, Manning, IA for Sale
$1,147,000 USD
Freestanding - FOR SALE
1/5
null | 7.25% Cap Rate

325 6th St
Manning, IA 51455


HIGHLIGHTS

  • STRONG CORPORATE GUARANTY
  • STRONG LEASE FUNDAMENTALS WITH RENTAL INCREASES
  • LESS THAN 1 MILE TO MANNING’S ONLY HEALTHCARE FACILITY
  • COMMITMENT TO LOCATION
  • FILLS A MARKET VOID

OVERVIEW

Bang Realty has been exclusively engaged to solicit offers for the sale of a Dollar General in Manning, IA. The Premises is leased to Dollar General, who has recently exercised a 10 year extension with 6 additional 5 year option terms. The Asset serves as the only dollar store in the market and is less than a mile from the main market employer (Manning Regional Healthcare Center). Tenant Name: Dollar General Address: 325 6th St, Manning, IA 51455 Building Size: (GLA) 9,100 SF Land Size: 1.50 Acres Year Built/Renovated: 2016 Signator/Guarantor: Dollar General Inc. Rent Type: Abs. NNN Landlord Responsibilities: None Extension Start: 11/1/2024 Lease Expiration: 10/31/2034 Remaining Term: 10 Years Current Annual Rent: $83,140 RENT SCHEDULE TERM ANNUAL RENT Current Term Years 1-10 $83,140 1st Extension Years 11-15 $91,454 2nd Extension Years 16-20 $100,600 3rd Extension Years 21-25 $110,660 4th Extension Years 26-30 $121,726

FOR SALE DETAILS

PRICE

$1,147,000 USD

PRICE/SF

$126 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - Manning, IA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

-

APN/PARCEL ID

1317481010

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

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