Current Use by Public Records
- Retail properties & Spaces
Property Details for 605 175
- Year built
- 1981
- Lot size
- 0.98 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 14,500 square foot Family Dollar and Dollar Tree retail property located at 605 W 175, Ida Grove, IA 51445. The property boasts a strong 7.75% cap rate and a 9-year remaining lease term (through April 30, 2033) with a corporate guarantee from Dollar Tree, a Fortune 500 company. The lease commenced April 30, 2023, following a complete renovation of the 1981-built building in 2023. The asking price is $1,275,000 ($87.93/sq ft), generating a current NOI of $98,745. The property sits on a 0.98-acre lot and benefits from $0.50/SF rent increases during five, 5-year option periods. Its strategic location is adjacent to a large manufacturing complex (Midwest Industries, 350,000 sq ft) and within proximity to other manufacturing facilities and Horn Memorial Hospital. The property is conveniently located an hour east of Sioux City, Iowa, the fourth largest city in the state, offering access to a robust regional economy, including a significant student population (over 105,000 students within 100 miles) and a major airport (Sioux Gateway Airport). This is a rare opportunity to acquire a high-quality, net-leased retail property with a strong tenant and significant upside potential. The tenant is responsible for routine parking lot maintenance and repair, landscaping, HVAC, insurance, taxes, and utilities. Landlord responsibilities include roof, structure, and parking lot. This property offers a secure and stable investment with excellent long-term growth prospects.
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
- Ida Grove
- County
- Ida
- State
- Iowa
- Longitude
- -95.4702
- Latitude
- 42.3515
