119 Madison AveDonnellson, IA 52625

Property Details for 119 Madison Ave

Year built

2016

Lot size

1.20 AC

Property size (Sq ft)

9,079 SF

Property type

Retail space

APN

01-33-07-33-376-0030

APU

13307333760030

Description

This exceptional investment opportunity presents a 9,026 square foot Dollar General store in Donnellson, Iowa. Located at 119 Madison Ave, 52625, this 2017 build-to-suit property sits on a 1.2-acre lot and boasts an absolute NNN lease with approximately eight years remaining on a fifteen-year term, expiring February 29, 2032. The lease includes five, five-year renewal options with a 10% rent increase at each option. The property generates a strong net operating income (NOI) of $89,900, resulting in an attractive 7.50% cap rate. Dollar General, a credit-rated tenant with a BBB (S&P) rating, provides significant financial stability and minimal management responsibilities for the investor. This location is exceptionally strong, ranking in the top 96th percentile of Iowa Dollar General stores (13 out of 321) as of July 2024, according to AlphaMaps. With minimal competition (the nearest national dollar store competitor is over 10 miles away), this property offers a compelling combination of high yield, low risk, and long-term passive income potential. The asking price is $1,198,667.

• CAP approach

  CAP return

  Valuation

  6%

  $3,570,643

  6.5%

  $3,295,978

  7%

  $3,060,551

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,783,653

  Geo Method

  $1,783,653

• Alternative Use

  Use

  Valuation

  Residential

  $2,780,281

  Hospitality

  $2,546,722

  Educational

  $2,118,843

  Medical

  $2,191,714

  Retail

  $3,295,978

Location Insight

City

Donnellson

County

Lee

State

Iowa

Latitude

40.6396

Longitude

-91.5593

CBSA code

22800

CBSA name

FORT MADISON-KEOKUK, IA-IL-MO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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