Dollar General - Atchison, KS

727-729 Kansas Ave Atchison , KS 66002

Dollar General - Atchison, KS - retail for sale

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Overview


JLL is pleased to offer for sale the fee-simple interest in a two-tenant building (the ?Property? or ?Asset?) located in Atchison, Kansas. The Property is tenanted by Dollar General and Atchison County Community Corrections on recently-extended renewal options. Located on the hard corner of Kansas Avenue and 8th Street in downtown Atchison, the Asset is surrounded by the area?s main retailers and employers, offering long-term intrinsic value. The strategic positioning in downtown Atchison has resulted strong store sales for Dollar General and long-lasting occupancy from both tenants. This Asset presents the opportunity to acquire a property with a national retail tenant in a prime location. Broker of Record: Larry Glaze - KS - 00026081

Investment highlights



The Property is located in downtown Atchison among the city’s largest employers and national retailers, including MGP Ingredients, Atchison Middle School, Atchison YMCA, City of Atchison, McDonald’s and the United States Postal Service.

Both tenants have exercised multiple renewal options for the Property, reflecting their commitment to this location.

Dollar General possesses significant market share and faces minimal competition, with no national dollar stores within a 15-mile radius of the Asset.

Operating on an double-net lease structure, Dollar General’s lease features minimal landlord responsibilities and one, five-year renewal option with a ten percent rental increase.

Dollar General offers investment-grade tenancy (S&P: ‘BBB’) and contributes 87% of the Asset’s total net operating income.


General
Property type Retail
Tenure type Sale/Purchase
Property address 727-729 Kansas Ave, Atchison, KS 66002-2436
Building size 12,988  ft2
Financial
Price $540,000
Cap rate 8.50%
Current NOI $45,890.00
Lease
Tenant's name DOLLAR GENERAL Corporation
Lease type NN
Annual rent $39,930.00
Lease expiration date 07/31/2022
Remaining term 2.9Yrs

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