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    2009 Commerce Dr Grundy Center, IA 50638

    For Sale
    $642,857

    Dollar General-Leased Retail Property

    Property size:
    9,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional retail investment opportunity presents a freestanding 9,014 square foot building located at 2009 Commerce Drive in Grundy Center, Iowa, a strategically advantageous location along Highway 14. The property is currently leased to Dolgencorp, LLC (Dollar General), a national tenant with a strong track record, under a Net-Net lease structure. The tenant recently completed a comprehensive interior remodel in 2024 and extended their lease, demonstrating significant commitment to this location. The lease extends until November 30, 2029, with two additional five-year renewal options, each including a $3,000 rent increase. The property boasts a strong Net Operating Income (NOI) of $45,000, resulting in an attractive 7.00% capitalization rate. Recent improvements include the 2024 interior remodel and parking lot repairs. The tenant is responsible for all property insurance (part of a national insurance program), and reimburses the owner in full for property taxes. Dollar General also handles minor repairs under $1,000. This is a rare opportunity to acquire a well-maintained, high-performing retail property with a stable, national tenant and significant upside potential. The asking price is $642,857.

    Property Features for 2009 Commerce Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,014 SF

    Building Details

    Year Renovated
    2024

    HighLights

    • 2024 interior remodel and recent parking lot repairs.
    • Two, five‑year lease extension options remain, with $3,000 rent increases per option.
    • Tenant (Dollar General) is responsible for their own insurance under a national program.
    • Dollar General handles minor repairs under $1,000.
    • Dollar General reimburses all property taxes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Redbox Movie Rental Kiosk Western Union Money Transfer Service FedEx OnSite Mailing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Grundy Center
    County
    Grundy
    State
    Iowa
    Longitude
    -92.7922592
    Latitude
    42.3608653

    Nearby Comparable

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      Commercial Property with Ice Cream Shop

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    Nearby Similar for Sale

    • $335,000
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      Turnkey Commercial Building in Grundy

      Well-equipped commercial property ideal for retail or restaurant use.
      2203 Commerce Dr, Grundy Center, IA 50638
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    • $425,000
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      Turnkey Daycare Center Opportunity

      Dual-level daycare center in Grundy Center, certified for 55 children.
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      Commercial Property with Ice Cream Shop

      Commercial property with existing ice cream shop and tenant.
      1309 G Ave, Grundy Center, IA 50638
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    FAQs

    What type of property is this?
    Individual retail property - Dollar General-Leased Retail Property
    Where is this individual retail property located?
    The property is located at 2009 Commerce Dr Grundy Center, IA.
    What is the asking price?
    The asking price for this property is $642,857.
    What are key features of this property?
    This property features: 2024 interior remodel and recent parking lot repairs.; Two, five-year lease extension options remain, with $3,000 rent increases per option.; Tenant (Dollar General) is responsible for their own insurance under a national program.
    Request Owner's contact information
    2009 Commerce Dr Grundy Center, IA 50638
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    Grundy Center, IA 50638
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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
    2009 Commerce Dr Grundy Center, IA 50638
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