Dollar General | 927 US Route 24
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Dollar General 927 US Route 24
10,640 SF Retail Building Monroe City, MO 63456 £994,363 (£93/SF) 7.30% Net Initial Yield
Investment Highlights
- Triple Net Lease – No landlord responsibilities
- Average Household Income Over $53,000 in 1-Mile Radius
- 1,267 Households in 5-Mile Radius
- Positioned on a 1.60-Acre Lot
- Monroe City Schools less than a mile west of the location with 734 students enrolled
- Situated on main east-west thorough fare of town Less than a mile off US-36 that sees over 11,000 VPD
Executive Summary
Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located on 927 US-24 in Monroe City, Missouri. This investment is being offered at $1,270,833 which represents a 7.30% cap rate.
The subject property is a 10,640 square foot store build-to-suit in 2016. There are currently 7.25-years remaining on the lease which expires on May 31st, 2031. Accompanied are five, five-year options, 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.
This site is located along Highway 24 with over 9,000 vehicles passing by daily. The 5-mile population is over 3,000 residents. Monroe City is in the north-east area of Missouri, 135 miles north-west of St. Louis, Missouri and 75 miles north of Columbia, Missouri. The property is located on the main retail corridor, with many nationally accredited tenants such as Subway, BP, Family Dollar and Hardee’s. The closest Dollar General is 18 miles east located in Hannibal, Missouri.
The subject property is a 10,640 square foot store build-to-suit in 2016. There are currently 7.25-years remaining on the lease which expires on May 31st, 2031. Accompanied are five, five-year options, 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.
This site is located along Highway 24 with over 9,000 vehicles passing by daily. The 5-mile population is over 3,000 residents. Monroe City is in the north-east area of Missouri, 135 miles north-west of St. Louis, Missouri and 75 miles north of Columbia, Missouri. The property is located on the main retail corridor, with many nationally accredited tenants such as Subway, BP, Family Dollar and Hardee’s. The closest Dollar General is 18 miles east located in Hannibal, Missouri.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,640 SF
Building Class
B
Year Built
2016
Price
£994,363
Price Per SF
£93
Net Initial Yield
7.30%
NOI
£72,589
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Lot Size
1.60 AC
Frontage
233 ft on U.S. 24
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £0 | Total Assessment | £199,032 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£199,032
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Dollar General | 927 US Route 24
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