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Family Dollar Tree | 4.73 Acre Corner Lot

1610 N 2nd St, Cherokee, IA 51012

Listing Price: $1,831,000

Cap Rate
7.00%
Tenant Name
Family Dollar Tree
Years Remaining On Lease
8.9
Guarantor
Corporate Guarantee
Rentable SF
26,279
Lease Type
Double Net
Rent Per Square Feet
$4.88

Investment Overview

9 YEAR CORPORATE LEASE
• Dollar Tree renovated a former hardware store and signed a new 10 year lease that commenced in February 2023.
• There are over 9 years left on a 10-year corporate guaranteed NN Lease with Dollar Tree.
• Tenant is responsible for taxes. Insurance, HVAC, and Utilities.
• The Landlord responsibilities include Roof, Structure and Parking Lot.
• The rent increases $0.50/SF in each of the Five, 5-year option periods.

NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA
• Cherokee is located 1 hour east of downtown Sioux City, IA.
• Sioux City is located in the northwestern part of the state and is the fourth largest city in IA with an MSA population of 149,940.
• Sioux City is at the navigational head, or the furthest upstream point to which general cargo ships can travel, of the Missouri River.
• There are 6 colleges located in Sioux City and 33 within 100 miles enrolling a total of 105,248 students.
• Sioux Gateway Airport serves both domestic and international flights and welcomes over 200,000 passengers annually.
• National Retailers in Sioux City include Target, Lowe’s Home Improvement, Home Depot, Hobby Lobby, Sam’s Club and more.

CHEROKEE | COUNTY SEAT OF CHEROKEE COUNTY
• This Family Dollar Tree is located on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, IA.
• Cherokke is the county seat of Cherokee county and benefits from government buildings and jobs.
• This store is directly across the street from Western Iowa Tech College with over 500 students enrolled.
• A 635,000 SF Hy-Vee Distribution center is located in Cherokee and has more than 610 employees.
• Cherokee Regional Medical Center is less than 1 mile away and has 275 staff members.
• National retailers within 1 mile of this store include McDonalds, O’Reilly Auto Parts, Dairy Queen and more.

INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB-.
• Dollar Tree/Family Dollar operate 23,000+ stores across 48 states and five Canadian province and are expanding by 600 stores each year.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Investment Highlights

  • 9 Year Corporate Lease
  • Near Sioux City, IA | 4th Largest In IA
  • Cherokee | County Seat Of Cherokee County
  • Investment Grade Tenant

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Financing By

Discount

Family Dollar Tree | 4.73 Acre Corner Lot

Listing Price: $1,831,000

Cap Rate
7.00%
Tenant Name
Family Dollar Tree
Years Remaining On Lease
8.9
Guarantor
Corporate Guarantee
Rentable SF
26,279
Lease Type
Double Net
Rent Per Square Feet
$4.88

Investment Highlights

  • 9 Year Corporate Lease
  • Near Sioux City, IA | 4th Largest In IA
  • Cherokee | County Seat Of Cherokee County
  • Investment Grade Tenant

Investment Overview

9 YEAR CORPORATE LEASE • Dollar Tree renovated a former hardware store and signed a new 10 year lease that commenced in February 2023. • There are over 9 years left on a 10-year corporate guaranteed NN Lease with Dollar Tree. • Tenant is responsible for taxes. Insurance, HVAC, and Utilities. • The Landlord responsibilities include Roof, Structure and Parking Lot. • The rent increases $0.50/SF in each of the Five, 5-year option periods. NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA • Cherokee is located 1 hour east of downtown Sioux City, IA. • Sioux City is located in the northwestern part of the state and is the fourth largest city in IA with an MSA population of 149,940. • Sioux City is at the navigational head, or the furthest upstream point to which general cargo ships can travel, of the Missouri River. • There are 6 colleges located in Sioux City and 33 within 100 miles enrolling a total of 105,248 students. • Sioux Gateway Airport serves both domestic and international flights and welcomes over 200,000 passengers annually. • National Retailers in Sioux City include Target, Lowe’s Home Improvement, Home Depot, Hobby Lobby, Sam’s Club and more. CHEROKEE | COUNTY SEAT OF CHEROKEE COUNTY • This Family Dollar Tree is located on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, IA. • Cherokke is the county seat of Cherokee county and benefits from government buildings and jobs. • This store is directly across the street from Western Iowa Tech College with over 500 students enrolled. • A 635,000 SF Hy-Vee Distribution center is located in Cherokee and has more than 610 employees. • Cherokee Regional Medical Center is less than 1 mile away and has 275 staff members. • National retailers within 1 mile of this store include McDonalds, O’Reilly Auto Parts, Dairy Queen and more. INVESTMENT GRADE TENANT • Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB-. • Dollar Tree/Family Dollar operate 23,000+ stores across 48 states and five Canadian province and are expanding by 600 stores each year. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

Financing By

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