1212 Us-287 Bus Iowa Park, TX 76367
- Retail properties
- 12,687 SF
- 1.45 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1212 Us-287 Bus
- Year built
- 2024
- Lot size
- 1.45 lot acres
- Property size
- 12,687 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 12,687 square foot Dollar General Market situated on a 1.451-acre lot in Iowa Park, Texas. The property boasts a new 2024 construction, a 15-year absolute NNN lease with five 5-year renewal options, and built-in rent bumps of 5% every five years throughout the primary term and options. The tenant, Dollar General, provides a corporate guarantee, ensuring financial stability. Located at 1212 US-287 BUS, 76367, this high-visibility location benefits from strong traffic counts on a major thoroughfare. The property's strategic location is approximately 1.5 miles from Wichita Valley Airport and 7 miles from Sheppard Air Force Base, a significant economic driver with over 6,400 employees and a $3.5 billion economic impact. The property offers a 6.40% cap rate and a net operating income (NOI) of $168,979, making it an attractive investment with a price per square foot of $208.17 and an asking price of $2,641,000. The lease commenced December 1st, 2024, and expires November 30th, 2039. This e-commerce resistant retailer is experiencing significant growth, with over 20,000 stores and plans to open 800 more. Iowa Park's location midway between Oklahoma City and the Dallas/Fort Worth metroplex, coupled with Wichita Falls' population exceeding 102,761, further enhances the property's long-term value and potential. The property is currently 100% occupied.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Iowa Park
- County
- Wichita
- State
- Texas
- Longitude
- -98.6534
- Latitude
- 33.9492
