709 Court St Grayville, IL 62844
- Commercial real estate
Current Use by Public Records
- Family Dollar / Clothing Store / Discount Store
Property Details for 709 Court St
- Property type
- Commercial real estate
- APN
- 15-17-430-014
- APU
- 1517430014
Description
This exceptional investment opportunity presents a 12,000 square foot retail property in Grayville, Illinois, currently leased to a Dollar Tree and Family Dollar hybrid store under a 10-year absolute NNN lease commencing September 1, 2023, and expiring September 1, 2033. The lease includes five 5-year renewal options, each with a 10% rent increase. The property boasts a strong 8.50% cap rate based on a net operating income (NOI) of $80,040, and an asking price of $941,647, translating to $78.47 per square foot. The tenant, Dollar Tree Corporation, holds an investment-grade credit rating of "BBB," providing financial stability and security for the investor. Located at 709 North Ct, Grayville, IL 62844, the property benefits from a high-traffic location on North Court, the busiest road in Grayville. The surrounding area demonstrates strong demographics, with a five-mile population of 2,355 and a three-mile average household income of $68,644, exceeding typical figures for similar retail establishments. This property offers a compelling combination of a secure lease, strong tenant, favorable location, and attractive financial returns, making it an ideal addition to any investment portfolio. The property is fee simple ownership.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grayville
- County
- Edwards
- State
- Illinois
- Longitude
- -87.99602
- Latitude
- 38.250713
