Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 1099 Cole St
- Year built
- 2023
- Lot size
- 1.00 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,500-square-foot retail property in Bushnell, Illinois. The property houses a combined Dollar Tree and Family Dollar store, operating under a 10-year Double Net (NN) lease commencing June 29, 2023, and expiring June 30, 2033. The lease includes four five-year renewal options with a $0.50 per square foot rent increase at each option. The tenant, Dollar Tree, boasts a strong investment-grade credit rating of 'BBB-' and provides a corporate guarantee. The property, built in 2023, enjoys a prime corner location on Cole Street and Smith Street, a main thoroughfare with 2,686 cars per day, and sits across from a new Dollar General Market. The 100% occupancy rate generates a substantial Net Operating Income (NOI) of $123,375, representing a 7.85% cap rate at the asking price of $1,571,656 ($149.68 per square foot). The one-story building sits on a one-acre lot and benefits from a concrete parking lot. The strong demographics, with a three-mile average household income of $55,315 and a ten-mile population of 7,090, further solidify this investment's potential. This property is ideal for 1031 exchange buyers or passive investors seeking a secure, high-return investment with a credit-rated tenant and minimal landlord responsibilities. The property is zoned commercial.
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
- Bushnell
- County
- McDonough
- State
- Illinois
- Longitude
- -90.4991
- Latitude
- 40.5563
