707 2Nd Ave Sibley, IA 51249

Property Details for 707 2Nd Ave

Year built

1900

Lot size

0.43 lot acres

Property size

1,032 SF

Property type

Commercial real estate

APN

337010101010

APU

337010101010

Description

This exceptional investment opportunity presents a brand-new, 10,500-square-foot Family Dollar/Dollar Tree dual-concept store located at 707 2nd Ave, Sibley, IA 51249. Built in 2023 and opened in December, this property boasts a 10.1-year net-net lease with four 5-year renewal options, each including a $0.50 per square foot rental rate increase. The lease is corporately guaranteed by Dollar Tree, holding an investment-grade credit rating of "BBB-". The property's strong financial performance is reflected in a 7.85% cap rate based on a net operating income (NOI) of $116,550, and an asking price of $1,484,713 ($141.40/SF). Situated on approximately 0.9 to 1.1 acres, this highly visible location benefits from 4,414 cars per day passing on 2nd Avenue, with convenient access via three ingress/egress points from both 1st and 2nd Avenues. Its strategic placement across from a Casey's and gas station further enhances its appeal. The strong demographics of the area, including a 3-mile average household income of $74,225 and a 10-mile population of 5,802, support the continued success of this established business. This property is an ideal acquisition for 1031 exchange buyers or passive investors seeking a secure, high-return investment in a proven, nationally recognized brand. The property is 100% occupied.