1212 24Th StEldora, IA 50627

Property Details for 1212 24Th St

Year built

2004

Lot size

0.99 AC

Property size (Sq ft)

8,320 SF

Property type

Retail space

APN

871907153007

APU

871907153007

Description

This Eldora, IA retail property, located at 1212 24th Street, offers a compelling investment opportunity. The 8,320 square foot freestanding building is currently leased to Dollar General under a Net Net (NN) lease expiring September 30, 2030, with two 5-year renewal options at 10% rent increases. The tenant, Dolgencorp, LLC, has demonstrated strong commitment with a recent lease extension. The property boasts a strong net operating income (NOI) of $47,250, resulting in a 7.00% capitalization rate. Recent improvements include parking lot and exterior lighting upgrades. The lease includes a national insurance program where the tenant pays insurance directly, and Dollar General is responsible for minor repairs (under $500) and fully reimburses property taxes. Additionally, Dollar General pays additional percentage rent at this location. The property is situated in Hardin County, Iowa, zip code 50627, and is easily accessible. This is a rare opportunity to acquire a stable, high-yielding retail investment in a desirable location. The asking price is $675,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,013,259

  6.5%

  $1,858,393

  7%

  $1,725,650

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,070,125

  Geo Method

  $1,070,125

• Alternative Use

  Use

  Valuation

  Residential

  $1,567,624

  Hospitality

  $1,435,935

  Educational

  $1,194,681

  Medical

  $1,235,768

  Retail

  $1,858,393

Location Insight

City

Eldora

County

Hardin

State

Iowa

Latitude

42.3609

Longitude

-93.1147

Property Tax & Assessments

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