Current Use by Public Records
- Retail properties & Spaces
Property Details for 200 South St
- Year built
- 2002
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a freestanding 7,200 square foot retail building located at 200 E South St, Mount Ayr, Iowa, 50854. Ideally situated along Highway 169 in the heart of town, this property has been continuously occupied by Dollar General since its construction in 2002. The tenant, Dolgencorp, LLC, recently extended their lease through October 31, 2030, demonstrating a strong commitment to the location. The asking price is $634,724, offering a 7.00% capitalization rate with a net operating income (NOI) of $44,430. The lease is a triple-net (NNN) agreement, meaning the tenant is responsible for property taxes, insurance (through a national insurance program), and most repairs (those under $1000). Dollar General will reimburse the landlord in full for property taxes. The property benefits from recent improvements, including roof sealing in 2024 and parking lot upgrades. Two five-year lease extension options remain, each with a 10% rent increase. This presents a stable, long-term investment with a strong national tenant and a proven track record. The property is classified as a convenience store, grocery store, and storefront.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mount Ayr
- County
- Ringgold
- State
- Iowa
- Longitude
- -94.2363
- Latitude
- 40.7114
