Dollar General – Milton, IA
We are pleased to present this brand new 10,640 SF. Dollar General Plus store located in Milton, Iowa. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 4 (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. The store has completed construction & successfully opened in January 2024.
This Dollar General is highly visible as it is strategically positioned off Highway 2 ,which sees 1,919 cars per day. Milton is a quaint Amish community and as such, this store will include a hitch n post for the horse & buggies. This is a limited competition area with the next dollar store 15 miles away. The 10 mile population from the site is 3,052 while the 3 mile average household income is $85,500 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 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 6.75% cap rate based on NOI of $126,084.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• RARE 5% PRIMARY TERM Rent Increases Every 5 Years!
• 2024 BTS Construction | Plus Size Design | Now Open!
• Limited Competition Area | The Only Dollar Store Serving the Community
• Amish Community | Store will Include Hitch N Post
• 4 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $85,500
• Ten Mile Population 3,052
• Concrete Parking Lot
• On Main Thoroughfare | 1,919 VPD
• Investment Grade Dollar Store With “BBB” Credit Rating
• Next to Milton Creamery | 30 Employees & Produces 1.5+ Million Lbs. of 6x Winning US Cheese Championship Cheddar per year
Broker of Record: Bang Realty