705 Park Ave - Storefront FOR SALE


Plainview, NE 68769
$1,751,847 USD
513-300-0763
705 Park Ave, Plainview, NE for Sale
$1,751,847 USD
Storefront - FOR SALE
1/3
null | 7.2% Cap Rate

705 Park Ave
Plainview, NE 68769


HIGHLIGHTS

  • 15 Year Absolute NNN Lease;Zero Landlord Responsibilities
  • 13.5 Years Remaining on Primary Term; 2023 BTS | Plus Size Construction
  • Four (5 Year) Options | 10% Rental Increase At Each Option; Three Mile Household Income $54,830
  • Ten Mile Population 3,648; Corner Location | 3,945 Cars Per Day
  • 3 Mile Population Growth Rate 4.77% Investment Grade Dollar Store with "BBB" Credit Rating
  • Surrounded by Residential Homes; Concrete Parking Lot

OVERVIEW

We are pleased to present this 10,640 SF. Dollar General Plus store located in Plainview, Nebraska. The property is secured with a 15 year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in December 2023. This Dollar General is highly visible as it is strategically positioned on the corner of N Plum Street & W Park Avenue which sees 3,945 cars per day. The 10 mile population from the site is 3,648 and the 3 mile average household income is $54,830 per year, making this location ideal for a Dollar General. This area is seeing steady growth with the 3 mile population growth rate at 4.77%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 7.20% cap rate based on NOI of$126,132.96

FOR SALE DETAILS

PRICE

$1,751,847 USD

PRICE/SF

$165 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,480 SF

ZONING

03-COMMERC

APN/PARCEL ID

700011487

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.