605 W State Highway 175 - Convenience Store FOR SALE


Ida Grove, IA 51445
$1,275,000 USD
678-808-2762
605 W State Highway 175, Ida Grove, IA for Sale
$1,275,000 USD
Convenience Store - FOR SALE
1/3
null | 7.74% Cap Rate

605 W State Highway 175
Ida Grove, IA 51445


HIGHLIGHTS

  • Investment Grade Tenant
  • 9 Year Corporate Lease
  • Adjacent to 350,000 SF Manufacturing Complex
  • Near Sioux City, IA | 4th Largest City in IA

OVERVIEW

INVESTMENT GRADE TENANT • 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 • Dollar Tree renovated & backfilled a former hardware store and signed a new 10 year lease that commenced in May 2023. • There are 9 years left on a 10-year corporate guaranteed NN Lease with Dollar Tree. • Tenant is responsible for routine parking lot maintenance and repair including restriping. Tenant is also responsible for 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. ADJACENT TO 350,000 SF MANUFACTURING COMPLEX • The subject property is adjacent to Midwest Industries, a 350K SF manufacturing complex that sits on 15 AC and has over 300 employees. • Other manufacturing facilities within 1 mile include Gomaco Corp., Hawkeye Fabrication Inc., Wurth Industries and more. • Horn Memorial Hospital is 1 mile away and has over 200 full time employees. NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA • The subject property is located 1 hour east of Sioux City in Ida Grove, 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.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$88 USD /SF

CAP RATE

7.74%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar Tree | 4.93 AC Site

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,689 SF

ZONING

C

APN/PARCEL ID

18-06-1469

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.