900 Cove St Bondurant, IA 50035
Property Lookup
Property profile & analytics
900 Cove St Bondurant, IA 50035
- Drug stores
- 1.72 lot acres
Property ID
US25-0726156
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Location Intelligence
Current Use by Public Records
- Drug stores
Property Details for 900 Cove St
- Year built
- 2024
- Lot size
- 1.72 lot acres
- Property type
- Drug stores
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 2024-built Dollar Tree store in Bondurant, Iowa. The property boasts a 10-year net lease (NN+) with a corporate guarantee from Dollar Tree Stores, Inc., a credit-rated investment-grade tenant. The lease commenced February 6th, 2025, and expires February 28th, 2035, offering significant long-term stability. The property features a 1.72-acre lot with a concrete parking lot, minimizing maintenance needs. The building is situated in a high-growth area, with Bondurant experiencing over 15% population growth since 2020. The property benefits from proximity to the Des Moines MSA, serving a 5-mile population exceeding 33,360 residents and a 10-mile population exceeding 175,479. The strong average household income of $132,029 further underscores the area's affluent demographics. The lease includes five, 5-year renewal options, each with attractive rental increases of $5,000 (or $0.50 per square foot). The property's Net Operating Income (NOI) is $186,500, yielding a 7.25% cap rate on the $2,572,414 asking price. A 20-year transferable roof warranty provides additional peace of mind. This is a rare opportunity to acquire a high-performing retail asset with a strong tenant and excellent long-term prospects. The property is located at 900 Cove St SE, Bondurant, IA 50035.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Bondurant
- County
- Polk
- State
- Iowa
- Longitude
- -93.450773816608
- Latitude
- 41.694752589714
