301 Lincoln AveOgden, IL 61859

Property Details for 301 Lincoln Ave

Lot size

0.96 AC

Property type

Commercial real estate

APN

172417200019

APU

172417200019

Description

This exceptional investment opportunity presents a brand-new, single-tenant Dollar General store located at 301 W Lincoln Ave, Ogden, IL 61859. The property boasts 10,640 square feet on a single story building constructed in 2024, situated on a commercially zoned lot with ample parking (35 spaces). The property features a 15-year absolute NNN lease with Dollar General, commencing September 2, 2024, and expiring September 1, 2039, leaving a substantial 14.8 years remaining. The current annual net operating income (NOI) stands at $128,706, yielding a compelling 6.50% cap rate based on the asking price of $1,980,000. The lease includes 5% rent increases every five years, ensuring consistent growth in rental income. A recent appraisal dated April 23, 2024, valued the property at $2,011,000. This freestanding building represents a secure, passive income stream with a nationally recognized tenant in a strong retail location. The property is currently open for business. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment.

• Alternative Use

  Use

  Valuation

  Residential

  $15,382,616

  Hospitality

  $14,090,393

  Educational

  $11,723,042

  Medical

  $12,126,215

  Retail

  $18,235,844

Location Insight

City

Ogden

County

Champaign

State

Illinois

Latitude

40.1119

Longitude

-87.9594

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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