New Dollar General Plus
For Sale
Contact for pricing
Pending
1717 Lake Land Blvd, Mattoon, IL 61938
New 10,566 SF Dollar General Plus store in Illinois.
Property Size10,566 SF
Days on Market1024
Property Features for 1717 Lake Land Blvd
General Information
Standard status
Pending
Size
10,566 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$140,213
Building Details
Year Built
2023
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Fortis Net Lease
Listed By:
Kyle Carson · License #MI 6501384480
Source:
Crexi
Added: Nov 15, 2023
Changed: Aug 21
Last Checked: Sep 1 at 5:00AM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
This brand new 10,566 SF Dollar General Plus store is located in Mattoon, Illinois. The property is secured with a 15-year Absolute NNN Lease, offering zero landlord responsibilities. The lease includes 5% rent increases every 5 years during the primary term and at each of the 5 (5-year) options to renew. The lease is corporately guaranteed by Dollar General Corporation, which holds a credit rating of "BBB", classified as Investment Grade. Construction is underway, with the opening and rent start date on track for January 2024. The Dollar General Market has high visibility, strategically positioned on the main North-South thoroughfare of Lake Land Blvd, which sees 8,108 cars per day. The ten-mile population from the site is 19,233, while the five-mile average household income is $62,072 per year. This location is suitable for a Dollar General. The offering represents an opportunity for a 1031 exchange buyer or a passive investor to attain the fee simple ownership of Dollar General. This investment offers continued success due to the financial strength and the proven profitability of the tenant. The list price reflects a 6.25% cap rate based on NOI of $140,213.
Key Highlights
- Brand new 10,566 SF Dollar General Plus store with a 15‑year Absolute NNN Lease, offering zero landlord responsibilities.
- Corporately guaranteed lease by Dollar General Corporation with an Investment Grade credit rating of “BBB”.
- Strategic location on the main North‑South thoroughfare of Lake Land Blvd. with high visibility.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61938, IL
20,768
Population
10,299
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
126.5 sq mi
ZIP Area
164
Density / Sq Mi
$54,288
Median Household Income
$39,651
Median Earnings
$771
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Mark's My Store — 1512 Marion Ave, Mattoon, IL 61938
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - New 10,566 SF Dollar General Plus store in Illinois.
Where is this grocery and convenience store located?
The property is located at 1717 Lake Land Blvd Mattoon, IL.
What is the asking price?
The asking price for this property is $2,124,439.
What are key features of this property?
This property features: Brand new 10,566 SF Dollar General Plus store with a 15‑year Absolute NNN Lease, offering zero landlord responsibilities.; Corporately guaranteed lease by Dollar General Corporation with an Investment Grade credit rating of “BBB”.; Strategic location on the main North‑South thoroughfare of Lake Land Blvd. with high visibility.
