Dollar General | Near Indianapolis
12,687 SF | Retail Building | Windfall, IN 46076 | $2,241,000 ($177/SF) | 6.65% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,241,000
- Property Type
-
Retail
- Square Feet
- 12,687 SF
- Price / Square Foot
- $177
Listing Contacts
Andrew Koriwchak
Verified Profile
Don McMinn
Verified Profile
- Property Info
Property Overview
15 YR NNN “NEXT GEN” DG LEASE WITH 5% BUMPS IN INITIAL LEASE & OPTIONS
• This property features Dollar General’s “next gen” Lease with 5% rent increases every 5 years in the new 15-year corporate guaranteed NNN lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof, and structure.
• There are 5% rent increases in each of the five, 5-year option periods.
NEW CONSTRUCTION DG MARKET
• The subject property is a 12,687 SF DG Market which is about 2,000 SF larger than the traditional Dollar General footprint.
• DG Market is a combo store with fresh produce, milk, meats, and other groceries added to Dollar General’s usual mix of low-price general merchandise.
• This store sits on 2.15 acres and opened in August 2024
LIMITED COMPETITION
• This is the only Dollar/Grocery store in Windfall.
• The nearest Dollar Store and Grocery store is over 8 miles away.
AFFULENT MARKET WITH CLOSE PROXIMITY TO INDIANAPOLIS
• The subject property is 1 hour north of downtown Indianapolis and the 5 mile average household income is $90,230 which is superior to most Dollar General Locations.
• Indianapolis is the capital and most populous city in Indiana and is the county seat of Marion County.
• Three Fortune 500 companies are based in the city: health insurance company Elevance Health; pharmaceutical company Eli Lilly and Company; and agricultural chemical company Corteva.
• The city has a well-developed interstate network and accessibility to a large portion of the nation in one day making the region a burgeoning logistics and distribution hub.
• Indianapolis’ costs are far below national averages, attracting businesses and residents to the area.
• Home to multiple professional sports teams including the NFL’s Indianapolis Colts and the NBA’s Indiana Pacers.
NEAR KOKOMO | LARGEST CITY IN NORTH CENTRAL INDIANA
• This DG Market is located 20 minutes from southeast of Kokomo.
• Kokomo is a county seat and is the largest city and regional center for the North Central Indiana region.
• The Kokomo MSA is expected to show 4% annual growth in employment over the next two years.
• National Retailers include Target, Lowe’s Home Improvement, Walmart, Meijer and more.
INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 20,000 locations and plans to open 800 stores in 2024.
• Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.
• This property features Dollar General’s “next gen” Lease with 5% rent increases every 5 years in the new 15-year corporate guaranteed NNN lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof, and structure.
• There are 5% rent increases in each of the five, 5-year option periods.
NEW CONSTRUCTION DG MARKET
• The subject property is a 12,687 SF DG Market which is about 2,000 SF larger than the traditional Dollar General footprint.
• DG Market is a combo store with fresh produce, milk, meats, and other groceries added to Dollar General’s usual mix of low-price general merchandise.
• This store sits on 2.15 acres and opened in August 2024
LIMITED COMPETITION
• This is the only Dollar/Grocery store in Windfall.
• The nearest Dollar Store and Grocery store is over 8 miles away.
AFFULENT MARKET WITH CLOSE PROXIMITY TO INDIANAPOLIS
• The subject property is 1 hour north of downtown Indianapolis and the 5 mile average household income is $90,230 which is superior to most Dollar General Locations.
• Indianapolis is the capital and most populous city in Indiana and is the county seat of Marion County.
• Three Fortune 500 companies are based in the city: health insurance company Elevance Health; pharmaceutical company Eli Lilly and Company; and agricultural chemical company Corteva.
• The city has a well-developed interstate network and accessibility to a large portion of the nation in one day making the region a burgeoning logistics and distribution hub.
• Indianapolis’ costs are far below national averages, attracting businesses and residents to the area.
• Home to multiple professional sports teams including the NFL’s Indianapolis Colts and the NBA’s Indiana Pacers.
NEAR KOKOMO | LARGEST CITY IN NORTH CENTRAL INDIANA
• This DG Market is located 20 minutes from southeast of Kokomo.
• Kokomo is a county seat and is the largest city and regional center for the North Central Indiana region.
• The Kokomo MSA is expected to show 4% annual growth in employment over the next two years.
• National Retailers include Target, Lowe’s Home Improvement, Walmart, Meijer and more.
INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 20,000 locations and plans to open 800 stores in 2024.
• Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 224,770 SF
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