1102 Chatburn Ave, Harlan, IA 51537

9,016 SF | Retail Building | Harlan, IA 51537 | $925,000 ($103/SF) | 7.94% Cap Rate

Asking Price $925,000

Property Type: Retail
Square Feet: 9,016 SF
Price / Square Foot: $103

Listing Contacts

Edward Kemp

Ari Ravi

Nathan Timmons

Property Overview

RIPCO Real Estate is pleased to offer for sale 1102 chatburn avenue, a 9,014 SF single-tenant single tenant, double net lease
property leased to Dollar General, in Harlan, IA. Dollar General has been at the site for over 15 years and currently has 4.6 years of term remaining with two, five year renewal options remaining. The asset is located on Chatburn Avenue, the main east to west road through the town of Harlan. Along Chatburn Avenue, there is an AADT of 6,400. Within 5 miles of Dollar General, there is a population of 5,797 and an average household income of $85,321. The Dollar General store in Harlan, Iowa was remodeled in 2023, and has proven to be a strong performer, earning an impressive ranking of 12 out of 259 Dollar Generals in Iowa. This places it in the top 5% of all Dollar General stores in the state, according to data from Placer AI. The store’s exceptional performance extends beyond Iowa, as it ranks in the top 11% of all Dollar General locations nationwide, based on Placer AI data. This recognition underscores its success and profitability.

Property Details

Year Built: 2005
Stories: 1
Property Subtype: Freestanding, Grocery/Convenience Store
Lot Size (sq. ft): 40,075 SF

Highlights

Tenant for more than 15 Years
Two, Five Year Options with 12% increases in each
Landlord responsibilities are limited to roof, structure, & parking lot
Top 5% Performing Dollar General in Iowa (Placer AI) Top 11% Nationally
Landlord receives $563.38 monthly as contribution toward common area maintenance
Dollar General responsible for repairs less than $1,000 per occurrence

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