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Dollar General

704 E Jackson St, Sigourney, IA 52591

Listing Price: $1,364,603

Cap Rate
7.30%
Tenant Name
Dollar General
Years Remaining On Lease
11.2
Gross SF
10,542
Guarantor
Corporate Guarantee
Rentable SF
10,542
Price/Gross SF
$129.44
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.45

Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located on 704 East Jackson Street, Sigourney, Iowa 52591. This investment is being offered at $1,363,603 which represents a 7.30% capitalization rate.

Built in 2021, the subject property features a custom corner door entry way construction and a concrete parking lot. The 10,542 square foot Dollar General is accompanied by a corporately guaranteed 15-year lease. There are currently 11.75-years remaining on the lease which expires on June 30, 2036. The lease includes five, five-year options to extend, each with 10% rental increases. This triple net lease structure calls for tenant responsibilities of taxes, insurance, common area maintenance, roof, and structure. There are no landlord responsibilities.

Located in the southeastern region of Iowa, the property is 24 miles east of Oskaloosa, home to William Penn University, and 84 miles east of Des Moines, the state capital. This site is situated on the main thoroughfare of town, Highway-92, which spans over 270 miles. This location is a relocation of a previously successful store, showing Dollar General’s commitment to this market with over 24 years of operating history. Sigourney boasts numerous nationally accredited tenants, with a brand-new Family Dollar combo store, Subway, Casey’s, A&W, and NAPA Auto Parts backfilling the old Dollar General location. The Keokuk County Expo attracts over 3,500 attendees every year, with cattle shows and figure 8 racing boosting excitement during the summertime. Serving as the hub for Keokuk County, Sigourney houses the county courthouse, Motor Vehicle Department, Keokuk Roads Department, USDA Service Center, Keoco Auction House and Sigourney Lumber.

Investment Highlights

  • Triple Net Lease with no landlord responsibilities Relocation of a Previously Successful Store - Over 24 years in operating history
  • Corner door entry way prototype - 10,542 square feet Situated on main thoroughfare - Sees over 3,000 vehicles per day
  • Average Household Income Over $75,000 in 1-Mile Radius Over 1,100 Households in 5-Mile Radius

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Discount

Dollar General

Listing Price: $1,364,603

Cap Rate
7.30%
Tenant Name
Dollar General
Years Remaining On Lease
11.2
Gross SF
10,542
Guarantor
Corporate Guarantee
Rentable SF
10,542
Price/Gross SF
$129.44
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.45

Investment Highlights

  • Triple Net Lease with no landlord responsibilities Relocation of a Previously Successful Store - Over 24 years in operating history
  • Corner door entry way prototype - 10,542 square feet Situated on main thoroughfare - Sees over 3,000 vehicles per day
  • Average Household Income Over $75,000 in 1-Mile Radius Over 1,100 Households in 5-Mile Radius

Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located on 704 East Jackson Street, Sigourney, Iowa 52591. This investment is being offered at $1,363,603 which represents a 7.30% capitalization rate. Built in 2021, the subject property features a custom corner door entry way construction and a concrete parking lot. The 10,542 square foot Dollar General is accompanied by a corporately guaranteed 15-year lease. There are currently 11.75-years remaining on the lease which expires on June 30, 2036. The lease includes five, five-year options to extend, each with 10% rental increases. This triple net lease structure calls for tenant responsibilities of taxes, insurance, common area maintenance, roof, and structure. There are no landlord responsibilities. Located in the southeastern region of Iowa, the property is 24 miles east of Oskaloosa, home to William Penn University, and 84 miles east of Des Moines, the state capital. This site is situated on the main thoroughfare of town, Highway-92, which spans over 270 miles. This location is a relocation of a previously successful store, showing Dollar General’s commitment to this market with over 24 years of operating history. Sigourney boasts numerous nationally accredited tenants, with a brand-new Family Dollar combo store, Subway, Casey’s, A&W, and NAPA Auto Parts backfilling the old Dollar General location. The Keokuk County Expo attracts over 3,500 attendees every year, with cattle shows and figure 8 racing boosting excitement during the summertime. Serving as the hub for Keokuk County, Sigourney houses the county courthouse, Motor Vehicle Department, Keokuk Roads Department, USDA Service Center, Keoco Auction House and Sigourney Lumber.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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