IGA | 915 N Walnut St
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IGA 915 N Walnut St
20,000 SF Retail Building Mount Carmel, IL 62863 $1,955,250 CAD ($98 CAD/SF) 8% Cap Rate
Investment Highlights
- New Dual Tenant Concept | Brand New Lease
- 20,000 SF Store Large Format | Low Rent $5.50 P/FT
- The Store is Positioned At the Main Retail Intersection
- 1,500 FT from Wabash General Hospital
- Combo Stores See 20% Increase in Revenue!
- Three Mile Average Household Income of $63,045
Executive Summary
Fortis Net Lease is pleased to present this retro?t 20,000 SF Dollar Tree & Family Dollar Hybrid store located in Mount Carmel, IL. The property is encumbered with a ten (10) year double net lease, leaving minimal landlord responsibilities. The lease contains four (5) year options to renew, each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BBB” which is classi?ed as investment grade.
This Store is highly visible as it is strategically positioned near the intersection of 9th St and Walnut St, which is the highest-trafficked intersection in Mount Carmel. The ?ve-mile population is 8,779 with a three-mile average household income of $63,045. These numbers are above average for the typical Dollar Store.
This investment will offer a new owner success due to the ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. The list price reflects a 8.00% cap rate based on NOI of $110,000.
This Store is highly visible as it is strategically positioned near the intersection of 9th St and Walnut St, which is the highest-trafficked intersection in Mount Carmel. The ?ve-mile population is 8,779 with a three-mile average household income of $63,045. These numbers are above average for the typical Dollar Store.
This investment will offer a new owner success due to the ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. The list price reflects a 8.00% cap rate based on NOI of $110,000.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
20,000 SF
Building Class
C
Year Built
1950
Price
$1,955,250 CAD
Price Per SF
$98 CAD
Cap Rate
8%
NOI
$156,420 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.27
Lot Size
1.68 AC
Zoning
B1 - Outlying Business District
Parking
100 Spaces (5 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Dollar Tree
- Retailer
- 20,000 SF
- $7.82 CAD
- Net
- Dec 2034
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Dollar Tree | Retailer | 20,000 SF | $7.82 CAD | Net | Dec 2034 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 05-211-20-216-010 | Improvements Assessment | $80,882 CAD |
| Land Assessment | $35,694 CAD | Total Assessment | $116,576 CAD |
PROPERTY TAXES
Parcel Number
05-211-20-216-010
Land Assessment
$35,694 CAD
Improvements Assessment
$80,882 CAD
Total Assessment
$116,576 CAD
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IGA | 915 N Walnut St
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