Current Use by Public Records
- Retail properties & Spaces
Property Details for 300 Us-71
- Year built
- 2024
- Lot size
- 0.97 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, 10,640 square-foot Dollar General store in Sioux Rapids, Iowa. Built in 2024, the property boasts a 14-year remaining lease term (commencing November 9, 2023, and expiring November 30, 2038) with an absolute NNN lease structure, eliminating landlord responsibilities. The property enjoys a 7.00% cap rate and a strong corporate guarantee from Dollar General. Situated on a 0.97-acre lot at 300 US-71, this strategically located store benefits from high visibility along a major highway, with approximately 4,500 vehicles passing daily. The lease includes attractive 5% annual rent increases throughout the primary term and option periods. The current annual net operating income (NOI) is $127,312, translating to a price per square foot of $170.94. This single-tenant property offers a secure, passive income stream with significant long-term growth potential. The property is a convenience store, grocery store, and storefront, serving as the only convenience store in Sioux Rapids, fulfilling a crucial retail need for the community. The asking price is $1,818,754. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a blue-chip tenant.
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
- Sioux Rapids
- County
- Buena Vista
- State
- Iowa
- Longitude
- -95.1526
- Latitude
- 42.8931
