330 Western AvePeoria, IL 61606

For Sale
$625,000

High-Yield Family Dollar Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
Peoria, IL Family Dollar store presents a compelling net lease investment opportunity. This 10,834 square foot, single-tenant property, located at 330 N Western Ave, boasts a strong 7.04% cap rate and a corporate-guaranteed lease with Dollar Tree (Moody's Baa2 rating). The property features a recently completed renovation (2024), sits on a 0.63-acre lot with ample parking, and enjoys a prime location near Bradley University and other major retailers. The lease, originally commencing in 1993, has a remaining term of approximately 4.1 years with options. This presents a stable income stream with significant upside potential and future redevelopment possibilities. The property's strong tenant, excellent location, and solid financials make it an attractive addition to any portfolio. The asking price is $625,000.

Highlights

  • $625,000 asking price for a 10,834 square foot net-leased Family Dollar convenience store/grocery store in Peoria, IL.
  • 7.04% cap rate with a $44,000 annual NOI.
  • Corporate-guaranteed lease with Dollar Tree (DLTR), Moody's Baa2 rating; 4.1 years remaining on a lease expiring 12/31/2028 with a 1-5 year renewal option.
  • Located on a 0.63-acre corner lot at 330 N Western Ave, Peoria, IL 61606, near Bradley University and other major retailers.
  • 1993-built, 1-story building renovated in 2024.

Property Details for 330 Western Ave

Property type
Other retail properties, Individual retail properties
Square Feet
10,834 SF
Class
C
Year Built/Renovated
1993/2024
Buildings
1
Stories
1
Units
1

Location Insight

City
Peoria
County
Peoria
State
Illinois
Latitude
40.6923122
Longitude
-89.6225146
330 Western Ave, Peoria, Illinois

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330 Western Ave
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