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    702 Main St Smithton, IL 62285

    Sponsored
    For Sale
    $2,202,448

    High-yield, NNN-leased retail property.

    Property size:
    12,668 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a brand-new, 12,668-square-foot Dollar General Market in Smithton, Illinois. Built in 2024, this single-story building sits on a 1.58-acre corner lot with 40 parking spaces, offering excellent visibility on a main thoroughfare with over 9,036 vehicles per day. The property boasts a 15-year absolute triple-net (NNN) lease commencing July 1, 2024, and expiring July 1, 2039, with five, 5-year option periods, each including a 5% rent increase. This ensures consistent income growth and protects against inflation. The tenant, Dollar General, is credit-rated, minimizing landlord responsibilities. The store features an expanded product line, including meat and produce, catering to local demand. With a 100% occupancy rate and a strong initial Net Operating Income (NOI) of $151,968, this property offers a compelling 6.90% cap rate at an asking price of $2,202,448 ($173.86 per square foot). The 5-mile radius boasts a population of 9,692 and an average household income of $90,717, indicating a strong market for this type of retail establishment. This fee-simple ownership presents an ideal opportunity for 1031 exchange buyers or passive investors seeking a stable, high-return investment with a nationally recognized tenant. The property's location on Main Street in Smithton, St. Clair County, IL (zip code 62285) ensures high traffic and visibility.

    Property Features for 702 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,668 SF
    Lot Size
    68,825 SF

    Building Details

    Year Built
    2024
    Buildings
    1
    Stories
    1

    HighLights

    • Brand new 2024 build‑to‑suit (BTS) Dollar General Market.
    • Expanded offerings include meat and produce.
    • 15‑year absolute triple‑net (NNN) lease.
    • Five, 5‑year option periods with 5% rent increases each.
    • 5% rent increases every 5 years to hedge against inflation.
    • Zero landlord responsibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithton
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.992161304809
    Latitude
    38.401340173327

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN-leased retail property.
    Where is this individual retail property located?
    The property is located at 702 Main St Smithton, IL.
    What is the asking price?
    The asking price for this property is $2,202,448.
    What are key features of this property?
    This property features: Brand new 2024 build-to-suit (BTS) Dollar General Market.; Expanded offerings include meat and produce.; 15-year absolute triple-net (NNN) lease.
    Request Owner's contact information
    702 Main St Smithton, IL 62285
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    Smithton, IL 62285
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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
    702 Main St Smithton, IL 62285
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