107 Dixon St Polo, IL 61064-1204

Property Details for 107 Dixon St

Lot size

0.54 lot acres

Property type

Commercial real estate

APN

14-16-202-015

APU

1416202015

Description

This fee-simple retail property offers a compelling investment opportunity. The 9,900 square-foot Dollar General store, built in 2009, is located at 107 E Dixon St, Polo, IL 61064, and enjoys a prime location in the town center, benefiting from high daily traffic on Dixon Street. The property is under a 10-year net lease (NN+) with 5.5 years remaining, offering stability and predictable income. The lease includes three five-year renewal options, each with a 10% rent increase. The tenant is responsible for taxes, insurance, common area maintenance ($340/month), and HVAC. The landlord's responsibilities include roof, structure, and parking lot maintenance. The property boasts a strong 8.75% cap rate and a NOI of $74,500, with an asking price of $851,429 ($86/sq ft). The property's proximity to White Pines Forest State Park, a popular tourist attraction with over 350,000 annual visitors, further enhances its value. The average household income within a 5-mile radius is $75,601. The Polo City Council's commitment to economic growth, evidenced by a recent $170,000 investment in attracting new businesses, adds to the property's long-term potential. This is a rare opportunity to acquire a well-located, high-performing retail asset with significant upside.