Building Details

Year Built 2011

Tenancy Single

Listing Agency: Matthews

Listed By: Connor Olandt · License #CA 01985082

Source: Crexi

Added: Jun 2 Changed: Sep 29 Last Checked: Oct 12 at 6:37PM

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Investment Insights

Based on property information with market context.

This grocery and convenience store property is identified as a Dollar General location at 307 Center Avenue South in Mitchellville, Iowa. The building was constructed in 2011 and is offered for sale.

The property carries an 8% cap rate and is situated near Des Moines. Its location within Mitchellville provides a defined municipal setting for this established convenience-retail asset.

Key Highlights

• Dollar General grocery and convenience store property
• 8% cap rate
• Constructed in 2011

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,249

Cap Rate

8.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,664,980 $1.7M

Cap Rate 7%

$1,189,271 $1.2M

Cap Rate 9%

$924,989 $925.0K

Market Conditions

NOI Build-Up for 9,026 SF

Gross rent

$130.0K $14.40/SF

− Vacancy

−$11.0K −$1.22/SF

EGI

$118.9K $13.18/SF

− OpEx

−$35.7K −$3.95/SF

NOI

$83.2K $9.22/SF

Area

Polk County, IA

Vacancy

8.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,664,980

Cap Rate 7%

$1,189,271

Cap Rate 9%

$924,989

Alternative Uses

Best Use

Specialty Retail

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,149 @ 7.0% cap · market cap 11.85%

Second Best

Retail

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,249 @ 7.0% cap · market cap 8.57%

Theoretical Best

Flex RnD

$8.69M

$7.60M – $10.14M (±1% cap)

NOI $608,208 @ 7.0% cap · market cap 62.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dollar General Discount Store Redbox Cinema FedEx OnSite Postal Service Western Union Bank

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Restaurant Law Firm Plumbing Service Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

115

Businesses Nearby

8k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Casey's General Store Shops & Services

5,089 visits/mo 0.1 miles

Dollar General Shops & Services

2,787 visits/mo 0.1 miles

Demographics for 50169, IA

3,372

Population

1,161

Households

2.9

Avg Household Size

40

Median Age

17%

College-Educated

92%

High-School Grad

45.6 sq mi

ZIP Area

74

Density / Sq Mi

$81,625

Median Household Income

$34,271

Median Earnings

$789

Median Rent

$211,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Built in 2011, the property is identified as a Dollar General location in Mitchellville, Iowa.

Where is this grocery and convenience store located?

The property is located at 307 Center Avenue South Mitchellville, IA.

What is the asking price?

The asking price for this property is $971,501.

What are key features of this property?

This property features: Dollar General grocery and convenience store property; 8% cap rate; Constructed in 2011