401 E White St - Freestanding FOR SALE


Preston, IA 52069
$1,095,533 USD
319-675-1694
401 E White St, Preston, IA for Sale
$1,095,533 USD
Freestanding - FOR SALE
1/15
null | 7.5% Cap Rate

401 E White St
Preston, IA 52069


HIGHLIGHTS

  • NNN Lease
  • Low In-Place Rent
  • Limited Competition

OVERVIEW

WSG CRE has been retained by ownership to market the fee simple interest in 401 E White St, Preston, IA, a Dollar General property. Dollar General has occupied the site since 2017 and operates under a net lease with a term extending through 2032. The lease is backed by a corporate guarantee from Dollar General Corporation. CORPORATE GUARANTY | NNN LEASE STRUCTURE The property is leased to Dollar General under a triple-net (NNN) lease structure with no landlord responsibilities, providing investors with a truly passive, management-free investment opportunity. All operating expenses, including taxes, insurance, and maintenance, are the responsibility of the tenant. LIMITED COMPETITION | COMPELLING VISIT STATISTICS The Dollar General in Preston, IA is the only dollar store in the community and the only one within a 12- mile radius, with the nearest location in Savannah, IL. The store receives more than 119,000 visits per year and ranks in the top 30% of Dollar General locations in Iowa, according to Placer.ai. The lack of nearby competition and strong visit data support the location’s consistent performance. STRONG IN-PLACE CASH FLOW The asset is offered at an asking price of $1,095,533, reflecting a 7.50% cap rate on current NOI of $82,165. The property offers stable, predictable annual income backed by a nationally recognized retailer, with 10% rental increases in each of the five option periods. 2017 CONSTRUCTION | LIMITED EXPOSURE Constructed in 2017, the building is relatively new and in good condition, which may reduce the need for significant capital expenditures during the hold period. The property also features Dollar General’s typical galvalume steel roof, which has an estimated useful life of more than 40 years.

FOR SALE DETAILS

PRICE

$1,095,533 USD

PRICE/SF

$118 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

A-1

APN/PARCEL ID

882028327012000

ASK ABOUT THIS PROPERTY

319-675-1694

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319-675-1694

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