126 Main StPalmyra, WI 53156

Property Details for 126 Main St

Lot size

0.90 AC

Property type

Other commercial real estate

APN

171-0516-2214-029

APU

17105162214029

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,500-square-foot Dollar General store in Palmyra, Wisconsin. The property boasts a 15.1-year absolute NNN lease, commencing November 4, 2022, and expiring December 1, 2037, with a substantial remaining term of 13 years. The lease includes built-in rent bumps of 5% every five years, ensuring consistent income growth. Five five-year renewal options are included, each with a 10% rent increase. The tenant, Dollar General Corporation, holds a BBB investment-grade credit rating, providing significant financial security. The property sits on a one-acre lot with 30 parking spaces and is strategically located on E Main Street, a high-traffic thoroughfare (4,708 cars per day) between two gas stations, surrounded by complementary retail and residential properties. The strong demographics further enhance the investment's appeal, with a three-mile average household income of $83,075 and a ten-mile population of 38,891. Built in 2023, this single-story building offers a 6.75% cap rate based on a net operating income (NOI) of $88,000 and is priced at $1,303,703 ($173.83 per square foot). The property's zoning is commercial, and the 100% occupancy ensures immediate cash flow. This is an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-return investment with minimal landlord responsibilities.

• Alternative Use

  Use

  Valuation

  Residential

  $8,102,444

  Hospitality

  $7,421,794

  Educational

  $6,174,846

  Medical

  $6,387,208

  Retail

  $9,605,316

Location Insight

City

Palmyra

County

Jefferson

State

Wisconsin

Latitude

42.8795

Longitude

-88.5842

CBSA code

48020

CBSA name

WATERTOWN-FORT ATKINSON, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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