7541 Il-3 Evansville, IL 62242

Property Details for 7541 Il-3

Year built

2017

Lot size

1.58 lot acres

Property size

9,100 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 9,100 square foot Dollar General store in Evansville, Illinois, situated on a 1.58-acre lot. The property boasts a 15-year absolute triple-net (NNN) lease with a corporate guarantee from Dollar General (NYSE: DG), providing significant financial security. The lease commenced February 1, 2017, and has a remaining term of 7.2 years, with five (5), five (5) year renewal options and 10% rent bumps every five years. The property features a strong cap rate of 6.50% and a current NOI of $72,184, based on a price per square foot of $120.88. Built in 2017, the single-story building enjoys 100% occupancy and is located on high-traffic State Route 3. This presents a low-maintenance, passive income investment with a highly reputable tenant and a proven track record of success. The property's location in Evansville, a growing community in Randolph County, benefits from its agricultural focus and proximity to the Kaskaskia River, offering recreational opportunities. The strong financial performance of Dollar General, coupled with the long-term lease and corporate guarantee, makes this a compelling investment for those seeking stable returns and limited landlord responsibilities. The property's location near the Mississippi River and its strategic positioning within the community contribute to its enduring appeal and potential for future growth. This is a rare opportunity to acquire a well-performing, low-risk retail investment with a blue-chip tenant.

Location Insight

City

Evansville

County

Randolph

State

Illinois

Longitude

-89.9403

Latitude

38.0847