Dollar Fresh Market Grocery
For Sale
Contact for pricing
122 N Main Street, Monticello, IA 52310
Recently constructed grocery property serving a local retail market in Monticello.
Property Size27,490 SF
Price / SF$205.09
Days on Market126
Property Features for 122 N Main Street
General Information
Standard status
Active
Size
27,490 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$386,235
Additional Details
Cap Rate
6.85%
Building Details
Year Built
2022
Tenancy
Single
Listing Agency:
Newmark | Orange County - Irvine
(949) 608-2175
Listed By:
Matthew Berres · License #CA 01977909
Source:
Crexi
Added: Apr 27
Changed: Aug 29
Last Checked: Aug 29 at 4:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark | Orange County - Irvine
Investment Insights
Based on property information with market context.
Dollar Fresh Market is a grocery property at 122 N Main Street in Monticello, Iowa. The building contains 27,490 square feet and was completed in 2022.
The property is identified with a 6.85% cap rate and is associated with the Dollar Fresh Market (Hy-Vee) name.
The property is identified with a 6.85% cap rate and is associated with the Dollar Fresh Market (Hy-Vee) name.
Key Highlights
- 27,490‑square‑foot grocery property
- Completed in 2022
- Located at 122 N Main Street, Monticello, IA 52310
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$278,508
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,570,160
$5.6M
Cap Rate 7%
$3,978,686
$4.0M
Cap Rate 9%
$3,094,533
$3.1M
Market Conditions
NOI Build-Up for 27,490 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$402.5K $14.64/SF
− Vacancy
−$31.1K −$1.13/SF
EGI
$371.3K $13.51/SF
− OpEx
−$92.8K −$3.38/SF
NOI
$278.5K $10.13/SF
Area
Jones County, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,570,160
Cap Rate 7%
$3,978,686
Cap Rate 9%
$3,094,533
Alternative Uses
Best Use
Specialty Retail
$3.98M
$3.48M – $4.64M
NOI $278,508 @ 7.0% cap · market cap 4.94%
Second Best
Retail
$3.71M
$3.25M – $4.33M
NOI $259,941 @ 7.0% cap · market cap 4.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 28%
Electronics 6%
BP
Shops & Services
4,588 visits/mo
0.4 miles
Dollar Tree
Shops & Services
4,553 visits/mo
0.3 miles
SUBWAY
Dining
2,501 visits/mo
0.4 miles
Pizza Ranch
Dining
2,298 visits/mo
0.4 miles
Carquest Auto Parts
Shops & Services
1,318 visits/mo
0.2 miles
Demographics for 52310, IA
6,417
Population
2,937
Households
2.2
Avg Household Size
45
Median Age
21%
College-Educated
96%
High-School Grad
145.4 sq mi
ZIP Area
44
Density / Sq Mi
$76,946
Median Household Income
$49,063
Median Earnings
$664
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dollar Fresh Market — 122 N Main St, Monticello, IA 52310
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Recently constructed grocery property serving a local retail market in Monticello.
Where is this grocery and convenience store located?
The property is located at 122 N Main Street Monticello, IA.
What is the asking price?
The asking price for this property is $5,638,000.
What are key features of this property?
This property features: 27,490‑square‑foot grocery property; Completed in 2022; Located at 122 N Main Street, Monticello, IA 52310
