Dollar General Market – Wapello, IA
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 6.65% 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