301 Us-14 De Smet, SD 57231
- Retail properties
- 9,002 SF
Current Use by Public Records
- Retail properties
Property Details for 301 Us-14
- Year built
- 2016
- Property size
- 9,002 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 9,002 square foot Dollar General store located at 301 US-14, De Smet, SD 57231. Built in 2016, this Class A property sits on a 54,014 square foot lot and is currently operating under a 15-year absolute NNN lease with 7 years remaining. The lease commenced April 18, 2016, and expires July 31, 2032, providing significant long-term stability. The property boasts a 100% occupancy rate and generates a strong net operating income (NOI) of $85,872, resulting in an attractive 7.50% capitalization rate. The lease includes rent bumps, with a 3% increase at year 11 and a 10% increase per renewal option. Four (4) five (5)-year renewal options are available, further enhancing the investment's long-term value. This single-story building is situated in a prime location along US-14-E, the eastern entrance to De Smet, South Dakota, surrounded by complementary businesses including Legend Seeds, Dairy Queen, Oxbow Restaurant, and Sinclair Gas. The property's strong tenant, corporate lease guaranty, and minimal landlord responsibilities make it an ideal investment, particularly for 1031 exchange purposes. The asking price is $1,144,960.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- De Smet
- County
- Kingsbury
- State
- South Dakota
- Longitude
- -97.5467
- Latitude
- 44.3816
