400 Walnut St Watseka, IL 60970-1265

Property Details for 400 Walnut St

Property type

Office buildings

APN

19 32 329 024

APU

1932329024

Description

This exceptional investment opportunity presents a fee-simple interest in a 7,020-square-foot Dollar General store located at 400 W Walnut St, Watseka, IL 60970. The property, built in 1993, sits on a one-acre lot in a prime retail location along Highway 24, near the intersection of Illinois Route 1, boasting high traffic volume (11,799 VPD). The store benefits from a strong, long-term history, operating successfully for over 25 years with multiple lease renewals by the corporate tenant. The current lease, a Net-Net-Net (NNN) agreement, has approximately 1.4 years remaining, followed by two five-year options with 6% base rent increases at each renewal. Landlord responsibilities are minimal. Recent improvements include a new roof and gutters (April 2024) and a new central air system (2019). The property offers a 9.00% cap rate and a NOI of $36,431, with an asking price of $404,790 ($57.66/sq ft). The store serves a substantial population within a wide radius, aligning perfectly with Dollar General's key demographics. This is a rare opportunity to acquire a stable, high-performing investment property with a nationally recognized tenant. The property is zoned commercial and features one single-story building.

Location Insight

City

Watseka

County

Iroquois

State

Illinois

Longitude

-87.7404

Latitude

40.7775

Property Tax & Assessments