520 Veterans Memorial DrStaunton, IL 62088

Property Details for 520 Veterans Memorial Dr

Year built

2019

Lot size

1.12 AC

Property size (Sq ft)

9,002 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership interest in a freestanding Dollar General store located at 520 Veterans Memorial Dr, Staunton, IL 62088. The property, built in 2019, encompasses 9,002 square feet on a 1.12-acre lot and includes 27 parking spaces. The property is zoned commercial and benefits from a prominent location. The single-tenant, net-leased property boasts a corporate guarantee from Dollar General, providing significant financial security. With a current occupancy of 100%, the property generates a substantial net operating income (NOI) of $86,224, representing a 6.75% cap rate on the asking price of $1,277,000 ($141.86/sq ft). The lease has a remaining term of 9 years, followed by three 5-year options, each with a 10% rent increase at the beginning of the term. This provides a built-in hedge against inflation and ensures consistent income growth. The property's location offers excellent visibility and accessibility, supported by strong demographics within a 5-mile radius, including over 8,500 residents and 4,900 daytime employees, with an average household income of $75,519. The property's APN is 08-1-05-15-03-301-009, 08-1-05-15-03-301-007 & 08-1-05-15-03-301-008. This is a low-management, passive investment opportunity with a well-established national tenant and a strong financial outlook.

Location Insight

City

Staunton

County

Madison

State

Illinois

Latitude

38.9611

Longitude

-89.7657

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].