For Auction
REIT Sale | Former Dollar General | Built 2011
Montrose, IA 52639Represented by
Marcus & Millichap
Asset Snapshot
Offering Summary
Investment Highlights
- Freestanding Retail with Built-In Upside: ±9,092 SF former Dollar General on 1.88 AC with open layout, storage, and below-replacement basis.
- Major Employers Drive Nearby Activity: Amoco, Siemens Gamesa, Cryotech, and Koch Fertilizer help generate nearby employment traffic.
- US-61 Frontage with ±7,034 VPD Visibility: Prominent frontage on US Highway 61 with ±7,034 VPD along the Mississippi River corridor.
- Strong 5-Mile Household Income Profile: Average household income reaches ±$77,365 within a 5-mile radius, supporting local spending power.
- No Zoning Restrictions in Opportunity Zone: No local zoning restrictions plus Federal Opportunity Zone designation support flexible reuse.
- Absolute $1 Auction – NO RESERVE!
For Tours prior to auction, please email Kyle.Hynes@marcusmillichap.com & Philip.Kates@marcusmillichap.com
**Tours will not be allowed after auction.
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 2505 280th Street in Montrose, Iowa is a vacant ±9,092 SF freestanding retail/commercial building on ±1.88 acres, offered at a substantial discount to replacement cost with FIRST BID MEETS RESERVE. Built in 2011, the Property includes 38 surface parking spaces and frontage along both 280th Street and U.S. Highway 61, which carries approximately 7,034 VPD. Formerly occupied by Dollar General, the building is fully built out for retail use and offers flexibility for owner occupancy, lease-up, adaptive reuse, or repositioning. CoStar estimates market retail rents at approximately $8–$12 PSF. Located in an unzoned area of Lee County, the Property may accommodate a broad range of retail, commercial, flex, warehouse, contractor, industrial, and service-oriented uses, creating long-term adaptability for investors and owner-users seeking a visible commercial asset at an attractive basis.
Location
Montrose sits along U.S. Highway 61 and the Mississippi River corridor in southeast Iowa, about 20 minutes from Illinois and 15 minutes from Keokuk. Nearby Walmart, Hy-Vee, ALDI, Walgreens, and other retailers support regional demand, while the highway provides tri-state connectivity. The ±5-mile trade area includes 3,100+ residents with average household income above $77,000.Due Diligence
Transaction Managers
Platform Fee
Buyer pays platform fee at closing.
5% or $20,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
