Dollar General

421 Broadway Street Mount Vernon, IL 62864

FOR SALE
Property Type:
Street Retail
Amount:
$546,000
Last Verified:
May 16, 2018

Highlights

  • Price: $546,000.00
  • Cap Rate: 7.25
  • Lease Term: Lease to February 28th, 2025 @ Rent = $3,300.
  • Lessee to reimburse for Property Taxes and Grounds Maintenance.
  • Option #1, 5 years rent = $3,600
  • Option #2, 5 years rent = $3,900
  • Option #3, 5 years rent = $4,200
  • Lot Size: +/-26,589 Sq. Ft.
  • Building Size: +/-8,125 Sq. Ft.
  • Year Built: 2003

Description

High Volume Dollar General Store in a noteworthy location in Mount Vernon, IL. Mt Vernon has a population of 15,000 plus. This is a NN investment with minimal Landlord Responsibilities. Dollar General recently extended the corporate guaranteed lease term until February 28th, 2025.
Dollar General operated 14,000 stores in 44 states as of August 19, 2017. Dollar General has an investment rating of BBB by S&P.

Mount Vernon, known as “The King City”, is a city in and the county seat of Jefferson County, Illinois, United States. The population was 15,277 at the 2010 census.

Mount Vernon is the principal city of the Mount Vernon Micropolitan Statistical Area, which includes all of Jefferson and Hamilton counties. Located at the crossroads of I-57 and I-64, Mt. Vernon is the perfect location for many industries, retail businesses, regional medical services and tourism. Over one billion public and private dollars have been spent on development during the last six years. Under the guidance of a citizen/city generated Comprehensive Plan, Mt. Vernon has made great strides in infrastructure improvements: roads, water and sewer lines, growth in economic development: new retail, expansion/renovation of existing businesses, the attraction of new businesses, growth in recreational facilities and community events and the revitalization of our historic downtown area.

Building Size: 8125.0sq ft
Lot Size: 0.0 acres

Map of 421 Broadway Street, Mount Vernon, IL, 62864

Presented by:
Thumb_pic

Request additional information
Icon_e4dc5793d7


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.