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401 E White St 9,283 SF Retail Building Preston, IA 52069 $1,497,648 CAD ($161.33 CAD/SF) 7.50% Cap Rate
Investment Highlights
- NNN Lease
- Limited Competition
- Low In-Place Rent
Executive Summary
WSG CRE has been retained by ownership to market the fee simple interest in 401 E White St, Preston, IA, a Dollar General property. Dollar General has occupied the site since 2017 and operates under a net lease with a term extending through 2032. The lease is backed by a corporate guarantee from Dollar General Corporation.
CORPORATE GUARANTY | NNN LEASE STRUCTURE
The property is leased to Dollar General under a triple-net (NNN) lease structure with no landlord responsibilities, providing investors with a truly passive, management-free investment opportunity. All operating expenses, including taxes, insurance, and maintenance, are the responsibility of the tenant.
LIMITED COMPETITION | COMPELLING VISIT STATISTICS
The Dollar General in Preston, IA is the only dollar store in the community and the only one within a 12- mile radius, with the nearest location in Savannah, IL. The store receives more than 119,000 visits per year and ranks in the top 30% of Dollar General locations in Iowa, according to Placer.ai. The lack of nearby competition and strong visit data support the location’s consistent performance.
STRONG IN-PLACE CASH FLOW
The asset is offered at an asking price of $1,095,533, reflecting a 7.50% cap rate on current NOI of $82,165. The property offers stable, predictable annual income backed by a nationally recognized retailer, with 10% rental increases in each of the five option periods.
2017 CONSTRUCTION | LIMITED EXPOSURE
Constructed in 2017, the building is relatively new and in good condition, which may reduce the need for significant capital expenditures during the hold period. The property also features Dollar General’s typical galvalume steel roof, which has an estimated useful life of more than 40 years.
CORPORATE GUARANTY | NNN LEASE STRUCTURE
The property is leased to Dollar General under a triple-net (NNN) lease structure with no landlord responsibilities, providing investors with a truly passive, management-free investment opportunity. All operating expenses, including taxes, insurance, and maintenance, are the responsibility of the tenant.
LIMITED COMPETITION | COMPELLING VISIT STATISTICS
The Dollar General in Preston, IA is the only dollar store in the community and the only one within a 12- mile radius, with the nearest location in Savannah, IL. The store receives more than 119,000 visits per year and ranks in the top 30% of Dollar General locations in Iowa, according to Placer.ai. The lack of nearby competition and strong visit data support the location’s consistent performance.
STRONG IN-PLACE CASH FLOW
The asset is offered at an asking price of $1,095,533, reflecting a 7.50% cap rate on current NOI of $82,165. The property offers stable, predictable annual income backed by a nationally recognized retailer, with 10% rental increases in each of the five option periods.
2017 CONSTRUCTION | LIMITED EXPOSURE
Constructed in 2017, the building is relatively new and in good condition, which may reduce the need for significant capital expenditures during the hold period. The property also features Dollar General’s typical galvalume steel roof, which has an estimated useful life of more than 40 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,283 SF
Year Built
2017
Price
$1,497,648 CAD
Price Per SF
$161.33 CAD
Cap Rate
7.50%
NOI
$112,324 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.50 AC
Zoning
A-1 - Commercial
Parking
30 Spaces (3.23 Spaces per 1,000 SF Leased)
Frontage
415’ on E White St.
Amenities
- Pylon Sign
- Tenant Controlled HVAC
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 882028327012000 | Improvements Assessment | $1,130,140 CAD |
| Land Assessment | $69,173 CAD | Total Assessment | $1,199,313 CAD |
Property Taxes
Parcel Number
882028327012000
Land Assessment
$69,173 CAD
Improvements Assessment
$1,130,140 CAD
Total Assessment
$1,199,313 CAD
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401 E White St
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