Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located on 927 US-24 in Monroe City, Missouri. This investment is being offered at $1,270,833 which represents a 7.30% cap rate.
The subject property is a 10,640 square foot store build-to-suit in 2016. There are currently 7.25-years remaining on the lease which expires on May 31st, 2031. Accompanied are five, five-year options, each with 10% rental increases. This triple net lease structure calls for tenant responsibilities of taxes, insurance, common area maintenance, roof, and structure. There are no landlord responsibilities.
This site is located along Highway 24 with over 9,000 vehicles passing by daily. The 5-mile population is over 3,000 residents. Monroe City is in the north-east area of Missouri, 135 miles north-west of St. Louis, Missouri and 75 miles north of Columbia, Missouri. The property is located on the main retail corridor, with many nationally accredited tenants such as Subway, BP, Family Dollar and Hardee’s. The closest Dollar General is 18 miles east located in Hannibal, Missouri.