Highway 2, Milton, IA 52570
10,640 SF | Retail Building | Milton, IA 52570 | $1,827,304 ($172/SF) | 6.90% Cap Rate
For Sale
Active
Asking Price $1,827,304
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $172
Listing Contacts
- Property Info
Property Overview
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 completed construction and successfully opened for business 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 6.90% cap rate based on NOI of $126,084.
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 6.90% cap rate based on NOI of $126,084.
Property Details
- Class
- C
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
Highlights
- 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
- RARE 5% PRIMARY TERM Rent Increases Every 5 Years!
- 2024 BTS Construction | Plus Size Design
- 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
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].