Overview

Description

We are pleased to present this brand new 10,640 SF. Dollar General Plus store located in Milton, Iowa. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 4 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has successfully completed construction and opened for business January 27, 2024.

This Dollar General is highly visible as it is strategically positioned off Highway 2 ,which sees 1,919 cars per day. Milton is a quaint Amish community and as such, this store will include a hitch n post for the horse & buggies. This is a limited competition area with the next dollar store 15 miles away. The 10 mile population from the site is 3,052 while the 3 mile average household income is $85,500 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.75% cap rate based on NOI of $126,084.

Highlights

• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• RARE 5% PRIMARY TERM Rent Increases Every 5 Years!
• 2024 BTS Construction | Plus Size Design | Now Open!
• Limited Competition Area | The Only Dollar Store Serving the Community
• Amish Community | Store will Include Hitch N Post
• 4 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $85,500
• Ten Mile Population 3,052
• On Main Thoroughfare | 1,919 VPD
• Investment Grade Dollar Store With "BBB" Credit Rating
• Next to Milton Creamery | 30 Employees & Produces 1.5+ Million Lbs. of 6x Winning US Cheese Championship Cheddar per year
• Concrete Parking Lot

Documents

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