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    1212 24Th St Eldora, IA 50627

    For Sale
    $675,000

    High-Yield Convenience Store, Iowa

    Property size:
    8,320 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This Eldora, IA retail property, located at 1212 24th Street, offers a compelling investment opportunity. The 8,320 square foot freestanding building is currently leased to Dollar General under a Net Net (NN) lease expiring September 30, 2030, with two 5-year renewal options at 10% rent increases. The tenant, Dolgencorp, LLC, has demonstrated strong commitment with a recent lease extension. The property boasts a strong net operating income (NOI) of $47,250, resulting in a 7.00% capitalization rate. Recent improvements include parking lot and exterior lighting upgrades. The lease includes a national insurance program where the tenant pays insurance directly, and Dollar General is responsible for minor repairs (under $500) and fully reimburses property taxes. Additionally, Dollar General pays additional percentage rent at this location. The property is situated in Hardin County, Iowa, zip code 50627, and is easily accessible. This is a rare opportunity to acquire a stable, high-yielding retail investment in a desirable location. The asking price is $675,000.

    Property Features for 1212 24Th St

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,320 SF

    HighLights

    • Recently renovated parking lot and exterior lighting.
    • Two, five‑year lease extension options with 10% rent increases each.
    • Tenant (Dollar General) responsible for their own insurance.
    • Dollar General responsible for repairs under $500.
    • Dollar General pays all property taxes.
    • Dollar General pays percentage rent.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Western Union Money Transfer Service FedEx OnSite Mailing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Eldora
    County
    Hardin
    State
    Iowa
    Longitude
    -93.1147628
    Latitude
    42.3609288

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Convenience Store, Iowa
    Where is this individual retail property located?
    The property is located at 1212 24Th St Eldora, IA.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Recently renovated parking lot and exterior lighting.; Two, five-year lease extension options with 10% rent increases each.; Tenant (Dollar General) responsible for their own insurance.
    Request Owner's contact information
    1212 24Th St Eldora, IA 50627
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    Eldora, IA 50627
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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
    1212 24Th St Eldora, IA 50627
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