68300 Co Hwy Iron River, WI 54847
- Retail properties
- 9,100 SF
- 1.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 68300 Co Hwy
- Year built
- 2020
- Lot size
- 1.00 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,100-square-foot Dollar General store in Iron River, Wisconsin. The property boasts a 15-year absolute NNN lease, commencing March 31, 2020, and expiring March 31, 2035, with 10.4 years remaining. The lease includes five 5-year renewal options, each with a 10% rent increase. Dollar General, a credit-rated tenant with a corporate guarantee, ensures minimal landlord responsibilities. Located on a hard corner with high visibility at the intersection of US Highway 2 and Oneida Street, the property benefits from significant daily traffic (6,513 cars). The site features 30 parking spaces and sits on a one-acre lot. Built in 2020, this single-story building is zoned commercial. The strong demographics include a three-mile average household income of $68,779 and a three-mile population growth rate of 10.79%. The ten-mile population is 3,577. The asking price of $1,284,286 reflects a 7.00% cap rate based on a net operating income (NOI) of $89,900. This presents a compelling opportunity for passive investors or 1031 exchange buyers seeking a stable, high-growth investment. The property's prime location and strong tenant ensure long-term financial success.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Iron River
- County
- Bayfield
- State
- Wisconsin
- Longitude
- -91.4072
- Latitude
- 46.5648
