Family Dollar Tree | 4.73 Acre Corner Lot

BACK TO LISTINGS

1610 North 2nd Street
Cherokee, IA

Price: $1,831,000

Cap: 7.00%

NOI: $128,155

Building Size: 26,279 SF

Lot Size: 4.74 AC

Investment Highlights

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 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.

Don McMinn

678-808-2762 | EMAIL >

OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.

Name

Phone

Email

Principal or Broker?