115 Lincoln Hwy, Nevada, IA 50201-8027

Property Details for 115 Lincoln Hwy

Lot size

1.30 lot acres

Property type

Commercial real estate

APN

11-06-370-200

APU

1106370200

Description

This exceptional investment opportunity presents a fee-simple owned, 10,640 square foot Dollar General store in Nevada, Iowa. Built in 2024, the property boasts a brand-new 15-year absolute NNN lease with five 5-year renewal options, featuring 5% rent increases every five years. The lease is backed by a credit-rated corporate guarantee from Dollar General Corporation. The property enjoys a 7.00% cap rate and a strong net operating income (NOI) of $158,459. Situated on a 1.3-acre lot at a signalized intersection on US Highway 30 (16,300 VPD), this location offers excellent visibility and accessibility. The surrounding area features a dense retail corridor with numerous national tenants, and a strong demographic profile with an affluent average household income within a 5-mile radius of $106,384. The property's location near Iowa State University further enhances its appeal. Minimal landlord responsibilities make this an ideal, low-management investment. The property's APN is 11-06-370-200. This is a turnkey investment with a long-term lease and built-in rent growth, offering significant potential for passive income and appreciation. The property address is 115 W Lincoln Hwy, Nevada, IA 50201.

Location Insight

City

Nevada

County

Story

State

Iowa

Longitude

-93.4611

Latitude

42.0232

CBSA code

11180

CBSA name

AMES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments