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    1549 Lake Park Dr Germantown, IL 62245

    Sponsored
    For Sale
    $1,149,000

    High-yield Dollar General investment. Strong tenant, long lease.

    Property size:
    9,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional investment opportunity presents the fee simple ownership of a freestanding Dollar General store in Germantown, Illinois. The property, located at 1549 Lake Park Dr, boasts 9,014 square feet on a 1.43-acre lot and was built in 2009. The property is subject to a 15-year Net Lease (NNN) agreement with Dollar General (Dolgencorp, LLC), a nationally recognized retailer with over 19,000 stores. The lease, extending to November 2029, includes scheduled rent increases every five years, providing inflation protection and growing net operating income (NOI). The corporate guarantee minimizes landlord responsibilities, making this an ideal low-management investment. The property enjoys high visibility on Lake Park Drive, with an average daily traffic count of 5,900 vehicles. Its strategic location benefits from proximity to other established businesses, including Jansen Chevrolet, FitZone 161, and Germantown Trust & Savings Bank, creating a strong retail environment. The property serves a 5-mile trade area with over 10,500 residents and 4,600 daytime employees, boasting an average household income of $98,071. The asking price is $1,149,000, representing a cap rate of 6.85% and a current NOI of $78,726. The price per square foot is $127.47. This is a rare opportunity to acquire a well-located, passively managed, and highly profitable retail investment.

    Property Features for 1549 Lake Park Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,014 SF
    Lot Size
    62,291 SF

    Building Details

    Year Built
    2009
    Buildings
    1

    We can help!

    Listing Contact
    Sean Lutz
    Sean Lutz

    Learn more

    Property Insight Report

    HighLights

    • Fee simple ownership of a 9,014 SF Dollar General store on a 1.43‑acre lot in Germantown, IL.
    • 15‑year NNN lease with Dollar General (Dolgencorp, LLC) expiring November 2029, including rent increases every five years.
    • High visibility location on Lake Park Dr. with 5,900 average daily traffic count, situated near other established businesses.
    • Strong demographics: 5‑mile trade area with over 10,500 residents, 4,600 daytime employees, and $98,071 average household income.
    • Asking price: $1,149,000, representing a 6.85% cap rate and $78,726 current NOI; $127.47 price per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Spa & Massage Dental Office Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Auto Parts Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Germantown
    County
    Clinton
    State
    Illinois
    Longitude
    -89.5529233
    Latitude
    38.5528486

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    Nearby Similar for Sale

    • $1,149,000
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      Freestanding Dollar General Investment Property

      NNN leased Dollar General with corporate guarantee through November 2029.
      1549 Lake Park Dr, Germantown, IL 62245
      View Details
    • $300,000
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    FAQs

    What type of property is this?
    Individual retail property - High-yield Dollar General investment. Strong tenant, long lease.
    Where is this individual retail property located?
    The property is located at 1549 Lake Park Dr Germantown, IL.
    What is the asking price?
    The asking price for this property is $1,149,000.
    What are key features of this property?
    This property features: Fee simple ownership of a 9,014 SF Dollar General store on a 1.43-acre lot in Germantown, IL.; 15-year NNN lease with Dollar General (Dolgencorp, LLC) expiring November 2029, including rent increases every five years.; High visibility location on Lake Park Dr. with 5,900 average daily traffic count, situated near other established businesses.
    Request Owner's contact information
    1549 Lake Park Dr Germantown, IL 62245
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1549 Lake Park Dr Germantown, IL 62245
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    We can help!
    Listing Contact
    Sean Lutz
    Sean Lutz
    Real Estate License ID: IL 475132482
    Learn more
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