7-Year Lease Extension 10261 Lincoln Trail, Fairview Heights, IL Cap Rate 7.4% Union Hill (Fairview Heights, Illinois, US ) Built

$1,258,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 10,875 sq. ft.
  • Development Level: Built
  • Lot Size: 2.15 acres
  • Year Built: 2009

Description

7-Year Lease Extension 10261 Lincoln Trail, Fairview Heights, IL Cap Rate 7.4%

Cap Rate: 7.4%
NOI: $93,100
Building Size: 10,875 sqft
Lot Area: 2.15 acres
Occupancy: 100%
Class: A
Lease Type: Triple Net
Year Built: 2009
Tenancy: Single
Year Last Renovated: 2009
Gross Leaseable Area: 10875
Investment Strategy: Core Plus
Lease Expire Year: 11/30/2026

Price: $1,258,000 USD


DESCRIPTION
Marcus & Millichap is pleased to present the Dollar General located in Fairview Heights, Illinois.

The 10,875 square foot building was retrofitted in 2009 to the Dollar General concept. Dollar General signed an original 10-year lease in 2009, and elected to extend the lease by 7 years in 2018. There was no rent reduction with the 7-year lease extension further illustrating their success and commitment to this location. The current expiration is set for November 30, 2026 leaving about 5.9 years left on the lease. The lease is modified triple net, with the tenant responsible for all common area maintenance, insurance and real estate taxes, and the landlord responsible for the roof and structure of the building. There are three, five-year renewal options available, each of which with a 10 percent rent increase scheduled. Dollar General operates at $8.56 per square foot, which is well-below market rents for this area.

The Dollar General is located in an explosive retail corridor, home to the St. Clair Square Mall and to a number of big box retailers including Lowe’s Home Improvement, Kohl’s, Dick’s Sporting Goods, Best, Buy, Fresh Thyme Farmers Market, Office Max, HomeGoods, Weekends Only, Burlington, Petco, Hobby Lobby and several others. This corridor is perfectly positioned as an Interstate 64 exit location, at the intersection of I-64 and U.S. Route 50. As you continue to travel east along U.S. Route 50 you will come across tenants like Walmart, Sam’s Club, Menards, Target, Michaels and dozens of other national retailers that help drive the traffic to this area explaining the robust traffic counts.

HIGHLIGHTS
• 2009 Retrofitted Dollar General | Originally an Aldi Grocery Store
• Fresh 7-Year Lease Extension in 2018 | Illustrates Dollar General's Success & Commitment to this Location
• No Rent Reduction Requested with Extension Further Illustrating Tenants Success
• Dense, Affluent Demographics | 106,000+ People within 5 Miles | 1-Mile AHI: $73,800
• 13 Miles Outside St. Louis
• Located Down the Street from a Very Dense Big Box Retail Corridor
• Offering Includes a Very Large Plot of 2.15 Acres | Includes a Lot for Potential Developmen

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.