For Sale
$1,284,286

68300 Co HwyIron River, WI 54847

High-growth area, 7% cap rate, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple ownership of a 9,100-square-foot Dollar General store in Iron River, Wisconsin. The property boasts a 15-year absolute NNN lease, commencing March 31, 2020, and expiring March 31, 2035, with 10.4 years remaining. The lease includes five 5-year renewal options, each with a 10% rent increase. Dollar General, a credit-rated tenant with a corporate guarantee, ensures minimal landlord responsibilities. Located on a hard corner with high visibility at the intersection of US Highway 2 and Oneida Street, the property benefits from significant daily traffic (6,513 cars). The site features 30 parking spaces and sits on a one-acre lot. Built in 2020, this single-story building is zoned commercial. The strong demographics include a three-mile average household income of $68,779 and a three-mile population growth rate of 10.79%. The ten-mile population is 3,577. The asking price of $1,284,286 reflects a 7.00% cap rate based on a net operating income (NOI) of $89,900. This presents a compelling opportunity for passive investors or 1031 exchange buyers seeking a stable, high-growth investment. The property's prime location and strong tenant ensure long-term financial success.

Highlights

  • $1,284,286 asking price for a 9,100 SF Dollar General retail property in Iron River, WI.
  • Absolute NNN net lease with zero landlord responsibilities.
  • 10.4 years remaining on the 15-year lease with five 5-year options at 10% rent bumps each.
  • Credit-rated corporate guarantee from Dollar General (BBB rating).
  • 7.00% cap rate based on a $89,900 NOI.

Property Details for 68300 Co Hwy

Property type
Retail properties, Retail space
Square Feet
9,100 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF
Units
1

Location Insight

City
Iron River
County
Bayfield
State
Wisconsin
Latitude
46.5648135
Longitude
-91.4071935
68300 Co Hwy, Iron River, Wisconsin

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68300 Co Hwy
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