For Sale
$235,000

1217 Us-45 Eldorado, IL 62930

High-yield retail property, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a fee-simple, single-story retail building in Eldorado, Illinois, totaling approximately 12,000 square feet on a 2.19-acre lot (APN: 04-1-166-05). The property is 100% occupied by Dollar General, a national brand with a long-standing presence at this location, having occupied the space since May 1994. The current lease, commencing May 1, 2023, and expiring April 30, 2028, offers a remaining term of approximately 3.4 years. The lease includes a five-year renewal option with a 13.3% rent increase. The current annual net operating income (NOI) is $25,113, resulting in a compelling 10.69% capitalization rate. The asking price is $235,000, translating to a price per square foot of $19.58 based on the 10,500 square feet of net rentable space. Approximately 1,500 square feet of additional space is currently vacant and presents potential for additional income. The property is classified as Class C and is a net lease investment. This offering represents a rare opportunity to acquire a Dollar General property at a significantly below-replacement-cost price. The property's long-term occupancy history and the strong financial performance make it an attractive addition to any investment portfolio.

Highlights

  • Nation's lowest-priced Dollar General!
  • Investment-grade, Dollar General-leased property, approximately 12,000 square feet, priced at ~$21.50/SF.
  • Dollar General's 30+ year history at this location, recently renewed 5-year lease.
  • Low annual rent of $3.43/SF gross, offering sustainable income.
  • One 5-year renewal option at $3,400/month (13.33% increase).
  • 1,500 SF vacant space offers potential for additional income; Price reduced to $235,000, 10.7% cap rate.

Property Details for 1217 Us-45

Property type
Lifestyle centers, Power centers
Square Feet
12,000 SF
Class
C
Buildings
1
Stories
1
Lot Size (sq. ft)
95,396 SF
Units
1

Location Insight

City
Eldorado
County
Saline
State
Illinois
Latitude
37.806291540237
Longitude
-88.443419709711

FAQs

What type of property is this?
Lifestyle center - High-yield retail property, strong tenant.
Where is the lifestyle center located?
The property is located at 1217 Us-45 Eldorado, IL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Nation's lowest-priced Dollar General!; Investment-grade, Dollar General-leased property, approximately 12,000 square feet, priced at ~$21.50/SF.; Dollar General's 30+ year history at this location, recently renewed 5-year lease.
How can I contact the broker?
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1217 Us-45
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