Dollar General Market – Wapello, IA

$2,048,053
Price
$131,075.40
Noi
6.40%
Cap Rate
12,480
Leasable Area
2024
Year Built

We are pleased to present this 12,480 SF. RELOCATION Dollar General Market store located in Wapello, Iowa. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5%rental rate increases every 5 years including at each of the five (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. Dollar General has established a presence in Wapello & has had strong sales since it’s opening which is why they decided to relocate & expand. The store has finished construction and successfully opened for business on January 3, 2024.

This Dollar General Market is highly visible as it is strategically positioned on US-61 N which sees 5,019 cars per day. It sits across from a Casey’s & local schools. The ten mile population from the site is 6,778 while the three mile average household income is$83,185 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 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 6.40% cap rate based on NOI of $131,075.40.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS | NOW OPEN
• Dollar General Market | Produce and Fresh Meats
• RELOCATION STORE | Proven Success & Commitment to the Market
• Five (5 Year) Options | 5% Rental Increase At Each Option
• Three Mile Household Income $83,185
• Ten Mile Population 6,778
• 5,019 Cars Per Day on US-61 N
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Across from Casey’s & Local Schools | On Main Thoroughfare

Broker: Brian Brockman | Bang Realty

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

ANDREW BENDER

Investment Advisor

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