612 2Nd Ave Cresco, IA 52136

Property Details for 612 2Nd Ave

Year built

2023

Lot size

0.82 lot acres

Property size

10,000 SF

Property type

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 10,000-square-foot Dollar Tree store in Cresco, Iowa. Built in 2023, the property boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $139,500. The property is situated on a 0.82-acre lot at 612 2nd Ave SW, 52136, in a high-traffic retail corridor with numerous national and local businesses. The single-tenant, net lease (NNN) agreement with Dollar Tree features a remaining lease term of approximately 9.3 years, commencing March 3, 2024, and expiring February 27, 2034. The lease includes five, five-year renewal options with scheduled rent increases (excluding the first option). The landlord is responsible for roof and structure maintenance, while the tenant covers all other expenses, including common area maintenance, taxes, and insurance. Dollar Tree, a publicly traded company (NASDAQ: DLTR) with an S&P rating of BBB-, has demonstrated consistent growth and profitability, further solidifying this investment's appeal. The asking price is $1,924,137, translating to $13.95 per square foot. This is a rare opportunity to acquire a high-performing, low-risk retail investment with a nationally recognized tenant and a long-term lease. The property's location in a thriving retail area ensures consistent customer traffic and strong rental income potential. The build-to-suit construction in 2023 guarantees a modern and well-maintained facility.

Location Insight

City

Cresco

County

Howard

State

Iowa

Longitude

-92.1260949

Latitude

43.3714641