607 E Broad St - Freestanding FOR SALE


Jonesboro, IL 62952
$544,500 USD
248-254-3406
607 E Broad St, Jonesboro, IL for Sale
$544,500 USD
Freestanding - FOR SALE
1/6
null | 8% Cap Rate

607 E Broad St
Jonesboro, IL 62952


HIGHLIGHTS

  • Double Net (NN) Lease
  • LEASE WAS JUST EXTENDED EARLY AT TENANT'S REQUEST
  • 4 (5 Year) Options | 10% Increases At Each Option
  • Very Low Rent ($5 PSF) Ensures Location's Profitability
  • Newer Construction Locations Have Rents Exceeding $13 PSF!
  • Investment Grade Dollar Store With "BBB" Credit Rating

OVERVIEW

Fortis Net Lease is pleased to present this 9,014 SF Dollar General store located in Jonesboro, IL. The property is secured with a Double Net (NN) Lease that commenced in 2007 and which was extended early by an additional 7 years.  There are now just under 10 years on the guaranteed lease term. The lease has 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since May 2007. This Dollar General is highly visible as it is strategically positioned along E Broad Street which sees 10,333 vehicles per day. The ten mile population from the site is 15,773 while the ten mile average household income is $68,836 per year, making this location ideal for a Dollar General. The subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to obtain fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.

FOR SALE DETAILS

PRICE

$544,500 USD

PRICE/SF

$60 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

-

APN/PARCEL ID

14-00-07-913

ASK ABOUT THIS PROPERTY

Robert BenderFortis Net LeaseMore Info
248-254-3406

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Robert BenderFortis Net LeaseMore Info
248-254-3406

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