119 Madison Ave, Donnellson, IA 52625-9620
- Retail space
- 9,079 SF
- 1.20 lot acres
Current Use by Public Records
- Western Union / Bank / Credit Union
- FedEx OnSite / Postal Service / Courier Service
- Dollar General / Grocery & Convenience Store / Food Market
Property Details for 119 Madison Ave
- Year built
- 2016
- Lot size
- 1.20 lot acres
- Property type
- Retail space
- APN
- 01-33-07-33-376-0030
- APU
- 13307333760030
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 15, 2025 | $999,000 | Kais Properties INC | Mid Gey LLC | Warranty Deed | $753k · Quad City Bank & Trust Co |
| Mar 2, 2017 | $1,248,000 | Mid Gey LLC | Dgogdonnellson LLC | Warranty Deed | — |
Description
This exceptional investment opportunity presents a 9,026 square foot Dollar General store in Donnellson, Iowa. Located at 119 Madison Ave, 52625, this 2017 build-to-suit property sits on a 1.2-acre lot and boasts an absolute NNN lease with approximately eight years remaining on a fifteen-year term, expiring February 29, 2032. The lease includes five, five-year renewal options with a 10% rent increase at each option. The property generates a strong net operating income (NOI) of $89,900, resulting in an attractive 7.50% cap rate. Dollar General, a credit-rated tenant with a BBB (S&P) rating, provides significant financial stability and minimal management responsibilities for the investor. This location is exceptionally strong, ranking in the top 96th percentile of Iowa Dollar General stores (13 out of 321) as of July 2024, according to AlphaMaps. With minimal competition (the nearest national dollar store competitor is over 10 miles away), this property offers a compelling combination of high yield, low risk, and long-term passive income potential. The asking price is $1,198,667.
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $725,000
Market price range: $263k - $726k
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Donnellson
- County
- Lee
- State
- Iowa
- Longitude
- -91.5593
- Latitude
- 40.6396
- CBSA code
- 22800
- CBSA name
- FORT MADISON-KEOKUK, IA-IL-MO MICROPOLITAN STATISTICAL AREA
