707 2nd Ave - Freestanding FOR SALE


Sibley, IA 51249
$1,484,713 USD
513-300-0763
707 2nd Ave, Sibley, IA for Sale
$1,484,713 USD
Freestanding - FOR SALE
1/4
null | 7.85% Cap Rate

707 2nd Ave
Sibley, IA 51249


HIGHLIGHTS

  • Dual Concept Stores See a 20% Increase in Revenue
  • 10 Year NN Lease Requiring Minimal Landlord Responsibilities
  • 2023 BTS Construction | Opened in December 2023
  • Four (5 Year) Options | $0.50 PSF Rental Rate Increase
  • Across From a Casey's & Gas Station
  • Investment Credit Tenant | Standard & Poor's: 'BBB-'

OVERVIEW

We are pleased to present this 10,500 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Sibley, Iowa. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store has completed construction & successfully opened for business in December 2023! This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned between 1st Avenue & 2nd Avenue which sees 4,414 cars per day. With 3 ingress/egress points, the store is easily accessible from either street. It sits across the street from a Casey's & gas station. The ten mile population from the site is 5,802 while the three mile average household income is $74,225 per year, making this location ideal for a Family Dollar | Dollar Tree store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar | Dollar Tree store. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of t he nation’s top dollar stores. List price reflects a 7.85 % cap rate based on NOI of$116,550.

FOR SALE DETAILS

PRICE

$1,484,713 USD

PRICE/SF

$141 USD /SF

CAP RATE

7.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BRAND NEW DOLLAR TREE | FAMILY DOLLAR

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

000000010101010337

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.