1610 N 2nd St Cherokee, IA 51012

Listing agency Marcus & Millichap - Minneapolis d***@marcusmillichap.com Show Phone

Listed by Jon Ruzicka · License #B63379000

Source Crexi

Added: Apr 11 Updated: Jul 22 at 9:27AM Checked: Jul 22 at 9:27AM

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Investment Insights

Based on property information with market context.

This single-tenant retail store is leased to Dollar Tree under a corporate-guaranteed 10-year NN lease. The lease commenced in February 2023, and there are over nine years remaining on the 10-year term. Dollar Tree renovated a former hardware store for its use.

The landlord responsibilities include the roof, structure, and parking lot, while the tenant is responsible for taxes, insurance, HVAC, and utilities. Rent increases are scheduled by $0.50 per square foot in each of the five, five-year option periods.

The property is a Dollar Tree/Family Dollar location on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, Iowa, directly across the street from Western Iowa Tech College. Additional nearby context includes the Cherokee Regional Medical Center (less than one mile away) and a Hy-Vee distribution center in Cherokee.

Key Highlights

• Dollar Tree on a corporate‑guaranteed 10‑year NN lease, with over 9 years remaining
• 10‑year lease commenced February 2023
• Scheduled rent increases of $0.50/SF in each of the five 5‑year option periods

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FAQs

What type of property is this?

Retail space - Dollar Tree operates under a corporate-guaranteed 10-year NN lease with remaining term and scheduled rent increases.

Where is this retail space located?

The property is located at 1610 N 2nd St Cherokee, IA.

What are key features of this property?

This property features: Dollar Tree on a corporate‑guaranteed 10‑year NN lease, with over 9 years remaining; 10‑year lease commenced February 2023; Scheduled rent increases of $0.50/SF in each of the five 5‑year option periods