Family Dollar Tree | County Seat Location | 1610 N 2nd St
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Family Dollar Tree | County Seat Location 1610 N 2nd St
25,178 SF Retail Building Cherokee, IA 51012 $1,602,000 ($64/SF) 8% Cap Rate
Executive Summary
INVESTMENT GRADE TENANT (S&P: BBB)
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.
8 YEAR CORPORATE LEASE
• Family Dollar Tree renovated a former hardware store and signed a new 10 year lease that commenced in February 2023.
• There are approximately 8 years left on a 10-year corporate guaranteed NN Lease with Family Dollar Tree.
• Tenant is responsible for Routine Parking Lot Maintenance, Parking Lot Restriping, Landscaping, HVAC, Insurance, Taxes, and Utilities.
• The Landlord responsibilities include Roof, Structure and Parking Lot.
• The rent increases $0.50/SF in each of the Five, 5-year option periods.
NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA
• Cherokee is located 1 hour east of downtown Sioux City, IA.
• Sioux City is located in the northwestern part of the state and is the fourth largest city in IA with an MSA population of 149,940.
• Sioux City is at the navigational head, or the furthest upstream point to which general cargo ships can travel, of the Missouri River.
• There are 6 colleges located in Sioux City and 33 within 100 miles enrolling a total of 105,248 students.
• Sioux Gateway Airport serves both domestic and international flights and welcomes over 200,000 passengers annually.
• National Retailers in Sioux City include Target, Lowe’s Home Improvement, Home Depot, Hobby Lobby, Sam’s Club and more.
CHEROKEE | COUNTY SEAT OF CHEROKEE COUNTY
• This Family Dollar Tree is located on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, IA.
• Cherokee is the county seat of Cherokee county and benefits from government buildings and jobs.
• This store is directly across the street from Western Iowa Tech College with over 500 students enrolled.
• A 635,000 SF Hy-Vee Distribution center is located in Cherokee and has more than 610 employees.
• Cherokee Regional Medical Center is less than 1 mile away and has 275 staff members.
• National retailers within 1 mile of this store include McDonalds, O’Reilly Auto Parts, Dairy Queen and more.
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.
8 YEAR CORPORATE LEASE
• Family Dollar Tree renovated a former hardware store and signed a new 10 year lease that commenced in February 2023.
• There are approximately 8 years left on a 10-year corporate guaranteed NN Lease with Family Dollar Tree.
• Tenant is responsible for Routine Parking Lot Maintenance, Parking Lot Restriping, Landscaping, HVAC, Insurance, Taxes, and Utilities.
• The Landlord responsibilities include Roof, Structure and Parking Lot.
• The rent increases $0.50/SF in each of the Five, 5-year option periods.
NEAR SIOUX CITY, IA | 4TH LARGEST CITY IN IA
• Cherokee is located 1 hour east of downtown Sioux City, IA.
• Sioux City is located in the northwestern part of the state and is the fourth largest city in IA with an MSA population of 149,940.
• Sioux City is at the navigational head, or the furthest upstream point to which general cargo ships can travel, of the Missouri River.
• There are 6 colleges located in Sioux City and 33 within 100 miles enrolling a total of 105,248 students.
• Sioux Gateway Airport serves both domestic and international flights and welcomes over 200,000 passengers annually.
• National Retailers in Sioux City include Target, Lowe’s Home Improvement, Home Depot, Hobby Lobby, Sam’s Club and more.
CHEROKEE | COUNTY SEAT OF CHEROKEE COUNTY
• This Family Dollar Tree is located on a corner lot at the intersection of Hwy 4 and Hwy 59 in Cherokee, IA.
• Cherokee is the county seat of Cherokee county and benefits from government buildings and jobs.
• This store is directly across the street from Western Iowa Tech College with over 500 students enrolled.
• A 635,000 SF Hy-Vee Distribution center is located in Cherokee and has more than 610 employees.
• Cherokee Regional Medical Center is less than 1 mile away and has 275 staff members.
• National retailers within 1 mile of this store include McDonalds, O’Reilly Auto Parts, Dairy Queen and more.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
25,178 SF
Building Class
B
Year Built
2015
Price
$1,602,000
Price Per SF
$64
Cap Rate
8%
NOI
$128,155
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.12
Lot Size
4.93 AC
Opportunity Zone
Yes
Zoning
C-1 - Commercial
PROPERTY TAXES
| Parcel Number | 7-22-402-011 | Improvements Assessment | $1,190,140 |
| Land Assessment | $88,680 | Total Assessment | $1,278,820 |
PROPERTY TAXES
Parcel Number
7-22-402-011
Land Assessment
$88,680
Improvements Assessment
$1,190,140
Total Assessment
$1,278,820
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Family Dollar Tree | County Seat Location | 1610 N 2nd St
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