Dollar General - Remodeled in 2023 | 1102 Chatburn Ave
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Dollar General - Remodeled in 2023 1102 Chatburn Ave
9,016 SF Retail Building Harlan, IA 51537 £724,552 (£80/SF) 7.94% Net Initial Yield
Investment Highlights
- Tenant for more than 15 Years
- Landlord responsibilities are limited to roof, structure, & parking lot
- Landlord receives $563.38 monthly as contribution toward common area maintenance
- Two, Five Year Options with 12% increases in each
- Top 5% Performing Dollar General in Iowa (Placer AI) Top 11% Nationally
- Dollar General responsible for repairs less than $1,000 per occurrence
Executive Summary
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 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 Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,016 SF
Year Built
2005
Price
£724,552
Price Per SF
£80
Net Initial Yield
7.94%
NOI
£57,521
Tenancy
Single
Number of Floors
1
Building FAR
0.22
Lot Size
0.92 AC
Zoning
Commercial
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 833150000014 | Improvements Assessment | £383,732 |
| Land Assessment | £72,064 | Total Assessment | £455,796 |
PROPERTY TAXES
Parcel Number
833150000014
Land Assessment
£72,064
Improvements Assessment
£383,732
Total Assessment
£455,796
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Dollar General - Remodeled in 2023 | 1102 Chatburn Ave
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