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    1717 Lake Land Blvd Mattoon, IL 61938

    Sponsored
    For Sale
    $2,124,439

    10,566 SF, 15-Year NNN Lease, 6.60% Cap Rate

    Property size:
    10,566 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,566-square-foot Dollar General Plus store in Mattoon, Illinois. Located at 1717 Lake Land Blvd, this single-tenant property boasts a 15-year absolute NNN lease commencing January 21, 2024, and expiring January 15, 2039, with a remaining term of approximately 14.2 years. The lease includes a favorable 5% rent increase every five years throughout the primary term and each of the five five-year renewal options. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," ensuring financial stability. The property, built in 2023, sits on a 1.1-acre lot and enjoys a prime location on Lake Land Blvd, a major thoroughfare with 8,108 vehicles passing daily. The strong demographics include a ten-mile population of 19,233 and a five-mile average household income of $62,072. The asking price is $2,124,439, reflecting a 6.60% cap rate based on a net operating income (NOI) of $140,213. This is a turnkey investment with zero landlord responsibilities, making it ideal for a 1031 exchange or passive investor seeking a secure, high-return opportunity in a thriving retail market. The property's Class A designation and 100% occupancy further enhance its appeal.

    Property Features for 1717 Lake Land Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,566 SF
    Class
    A
    Lot Size
    47,916 SF

    Building Details

    Year Built
    2023
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Relocation store in a proven market.
    • Brand new Dollar General Plus store with a 15‑year absolute NNN lease, starting January 21, 2024.
    • Zero landlord responsibilities.
    • 5% rent increases every five years throughout the primary term and each of the five, five‑year renewal options.
    • Located on Lake Land Blvd in Mattoon, IL, with 8,108 vehicles passing daily.
    • Strong demographics: 19,233 population within ten miles and $62,072 average household income within five miles.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store FedEx OnSite Mailing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mattoon
    County
    Coles
    State
    Illinois
    Longitude
    -88.37834259414
    Latitude
    39.464906372999

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    FAQs

    What type of property is this?
    Individual retail property - 10,566 SF, 15-Year NNN Lease, 6.60% Cap Rate
    Where is this individual retail property 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: Relocation store in a proven market.; Brand new Dollar General Plus store with a 15-year absolute NNN lease, starting January 21, 2024.; Zero landlord responsibilities.
    Request Owner's contact information
    1717 Lake Land Blvd Mattoon, IL 61938
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1717 Lake Land Blvd Mattoon, IL 61938
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