Overview

Description

SVN | Holman Partners is pleased to present a 100% fee simple interest in a Dollar General property located at 1103 East 8th St., Metropolis, IL 62960. The 8,625+/- SF store built in 1999 is operated on a recently extended NN Lease through July 2029. Included with the 5+ years remaining on the lease term is (2) Five Year Options to Renew, with 6% base rent increases at each option. Dollar General provides $175/mo in CAM reimbursement, routine HVAC maintenance and up to $500 per occurrence in repairs. Dollar General also provides reimbursement for insurance premium increases and Real Estate Tax increases after the base year of 2001, so the max amount paid each year is $1,221.00 for insurance and $2,061.35 for RE Taxes. Dollar General is the largest discount retailer in the United States by the number of stores with over 18,700 neighborhood stores in 47 states. Not to mention they are among the largest retailer of top-quality products made by America's most trusted manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg, General Mills, Nabisco, PepsiCo, and Coca-Cola.

Metropolis is a city and the county seat of Massac County, Illinois located along the Ohio River. Metropolis is part of the Paducah, KY-IL Micropolitan Statistical Area in Southern Illinois. The Metropolis area has been settled by many different peoples throughout history including Native Americans, French, and Migrants from the South before the city was officially founded in 1839. Agriculture was the primary economic driver of the region through the 19th and 20th centuries. Harrah’s Metropolis casino/hotel is frequented by visitors around the region and makes tourism now one of the city’s largest industries. In 1972, the Illinois State Legislature passed a resolution declaring Metropolis, IL, the “Hometown of Superman” which the city plays into with a 15-foot tall Superman statue and annual Superman Celebration including celebrity guests from movies, TV, and the comic book industry. The subject property is located on E 8th Street, just 2.5 miles from I-24 which connects Metropolis to Paducah, KY. Dollar General has a large service area to the North of 10+ miles, and 3.5 miles to the South, 2.5 miles to the East, and 1 mile to the West servicing an average population of 7,500. The local tourism and large service area make this an excellent location for Dollar General with a long history of success.

Highlights

• 5+ Years Remaining on Current Lease Term
• Recent Early Lease Extension
• (2) Five Year Renewal Options
• 6% Rent Increases at Each Option
• NN Lease – Limited Landlord Responsibility

Documents

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