1717 Lake Land Blvd Mattoon, IL 61938
- Commercial real estate
- 1.83 lot acres
Current Use by Public Records
- Dollar General / Variety Store / Dollar Store
- FedEx OnSite / Mailing Service
Property Details for 1717 Lake Land Blvd
- Lot size
- 1.83 lot acres
- Property type
- Commercial real estate
- APN
- 07-1-01895-000
- APU
- 7101895000
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,566-square-foot Dollar General Plus store in Mattoon, Illinois. Located at 1717 Lake Land Blvd, this single-tenant property boasts a 15-year absolute NNN lease commencing January 21, 2024, and expiring January 15, 2039, with a remaining term of approximately 14.2 years. The lease includes a favorable 5% rent increase every five years throughout the primary term and each of the five five-year renewal options. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," ensuring financial stability. The property, built in 2023, sits on a 1.1-acre lot and enjoys a prime location on Lake Land Blvd, a major thoroughfare with 8,108 vehicles passing daily. The strong demographics include a ten-mile population of 19,233 and a five-mile average household income of $62,072. The asking price is $2,124,439, reflecting a 6.60% cap rate based on a net operating income (NOI) of $140,213. This is a turnkey investment with zero landlord responsibilities, making it ideal for a 1031 exchange or passive investor seeking a secure, high-return opportunity in a thriving retail market. The property's Class A designation and 100% occupancy further enhance its appeal.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,005,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,870,000
- 6.5%
- $2,180,000
- 7%
- $2,035,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,725,000
- Geo Method
- $1,895,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,935,000
- Retail
- $1,940,000
- Mixed-Use
- $1,690,000
- Hospitality
- $1,825,000
- Educational
- $1,595,000
- Residential Income
- $2,095,000
- Energy
- $1,575,000
- Income-Based Land
- $2,110,000
- Food Service
- $1,620,000
Location Insight
- Map
- Local Demand
- City
- Mattoon
- County
- Coles
- State
- Illinois
- Longitude
- -88.3775
- Latitude
- 39.465
- CBSA code
- 16660
- CBSA name
- CHARLESTON-MATTOON, IL MICROPOLITAN STATISTICAL AREA
