507 Deyoung St Marion, IL 62959-1619

Property Details for 507 Deyoung St

Property type

Commercial real estate

APN

06-13-277-008

APU

613277008

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 12,687-square-foot Dollar General Market store in Marion, Illinois. Built in 2024, this property boasts a 15-year absolute triple-net (NNN) lease, commencing September 30, 2024, and expiring September 30, 2039, with a remaining term of 15.2 years. The lease includes a 5% rent increase every five years, including option periods, providing excellent inflation protection. The tenant, Dollar General Corporation, holds an investment-grade credit rating, ensuring financial stability. The property enjoys exceptional visibility, situated on E Deyoung Street, a major regional thoroughfare, with over 18,300 vehicles passing daily. The strong demographics include a dense population exceeding 22,000 residents within a five-mile radius and an average household income of $67,935 within three miles. The asking price is $2,447,538, reflecting a 6.75% cap rate based on a net operating income (NOI) of $165,208.80. The property features 35 parking spaces and is zoned for commercial use. This Dollar General Market, a larger format store offering produce and fresh meats, represents a secure, passive income investment with significant long-term growth potential. The property's location and tenant strength make it an ideal acquisition for 1031 exchange buyers or passive investors seeking a high-yield, low-maintenance investment. The average rent per square foot is $15.54, and the price per square foot is $203.36. The land value is $13.02 per square foot. The property is 100% occupied.