1103 8Th StMetropolis, IL 62960

Property Details for 1103 8Th St

Lot size

0.80 AC

Property type

Other commercial real estate

APN

08-01-447-006

APU

801447006

Description

This exceptional investment opportunity presents a fee-simple interest in an 8,625-square-foot Dollar General store located at 1103 E 8th St, Metropolis, IL 62960. The property boasts a strong 9.00% cap rate and a recently extended net lease (NN+) with a corporate guarantee, providing significant financial stability. The lease, commencing March 1, 2000, currently has approximately 4.7 years remaining, with two five-year renewal options, each including a 6% rent increase. The property, built in 1999, sits on a 0.83-acre lot and benefits from consistent 100% occupancy since its opening. The current annual net operating income (NOI) is $38,407. Dollar General provides significant reimbursements, including monthly CAM payments, routine HVAC maintenance, and repair coverage up to $500 per occurrence. Furthermore, they reimburse increases in insurance premiums and real estate taxes beyond base year amounts (2001), with maximum annual payments capped at $1,221 for insurance and $2,061.35 for real estate taxes. The store's location in Metropolis, Illinois, benefits from its proximity to I-24 and serves a substantial population within a large service area. The property's performance is strong, ranking in the 85th percentile for store visits among Illinois Dollar Generals and the 77th percentile nationally. This presents a compelling investment opportunity with a long history of success and significant future potential. The property is offered at $426,753, translating to a price per square foot of $49.48.

• Alternative Use

  Use

  Valuation

  Residential

  $9,117,448

  Hospitality

  $8,351,534

  Educational

  $6,948,378

  Medical

  $7,187,343

  Retail

  $10,808,587

Location Insight

City

Metropolis

County

Massac

State

Illinois

Latitude

37.1494

Longitude

-88.7164

CBSA code

37140

CBSA name

PADUCAH, KY-IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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