707 2nd Ave - Retail FOR SALE


Sibley, IA 51249
$1,226,842 USD
513-300-0763
707 2nd Ave, Sibley, IA for Sale
$1,226,842 USD
Retail - FOR SALE
1/3
null | 9.5% Cap Rate

707 2nd Ave
Sibley, IA 51249


HIGHLIGHTS

  • 10 Year NN Lease Requiring Minimal Landlord Responsibilities. 7.75 Years Remaining on Primary Term
  • 2023 BTS Construction | Opened in December 2023 Four (5 Year) Options | $0.50 PSF Rental Rate Increase
  • Across From a Casey's & Gas Station. Corporate Guaranty
  • 4,414 Cars Per Day on 2nd Avenue 3 Points of Ingress/Egress | Accessible from 1st & 2nd Avenue
  • 3 Mile Average Household Income $74,225 with 10 Mile Population 5,802

OVERVIEW

We are pleased to present this 10,500 SF. freestanding Family Dollar store located in Sibley, Iowa. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a$0.50 PSF rental rate increase. The lease has a corporate guaranty. The store has completed construction & successfully opened for business in December 2023! This Family Dollar store is highly visible as it is strategically positioned between 1st Avenue & 2nd Avenue which sees 4,414 cars per day. With 3 ingress/egress points, the store is easily accessible from either street. It sits across the street from a Casey's & gas station. The ten-mile population from the site is 5,802 while the three-mile average household income is $74,225 per year, making this location ideal for a Family Dollar | Dollar Tree store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 9.50% cap rate based on NOI of $116,550.

FOR SALE DETAILS

PRICE

$1,226,842 USD

PRICE/SF

$117 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar / Dollar Tree - Sibley IA

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

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.