Dollar General Plus
10,640 SF | Retail Building | New Middletown, IN 47160 | $1,578,000 ($148/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,578,000
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $148
Listing Contacts
Michael Carter
Verified Profile
Frank Rogers
Verified Profile
- Property Info
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, corporate guaranteed, Dollar General investment property located in New Middletown, IN. The tenant, Dolgencorp, LLC, recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (S&P: BBB) and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store chain with over 19,700 stores in operation. The property, which opened in October 2023, features a state-of-the-art design using the highest-grade materials available.
Dollar General is strategically located along New Middletown Elizabeth Road, one of the town’s primary thoroughfares. The nearby tenants consist of Brown Motorsports, Addicted to Ink, South Harrison Water Corporation, Teddy Bear Mobile, and others, significantly contributing to the local economy. In addition, the asset is adjacent to New Middletown Fire Station and New Middletown Elementary School, providing families and workers with easy access to food and general household items to accommodate their daily needs. Furthermore, the subject is the only variety store in the trade area, creating a large consumer draw with virtually no competition. The 5-mile trade area is supported by over 8,000 residents and 1,600 daytime employees. Residents within 1-,3-, and 5-miles of the site boast a healthy average household income of $91,320, $90,559, and $92,600, respectively.
Dollar General is strategically located along New Middletown Elizabeth Road, one of the town’s primary thoroughfares. The nearby tenants consist of Brown Motorsports, Addicted to Ink, South Harrison Water Corporation, Teddy Bear Mobile, and others, significantly contributing to the local economy. In addition, the asset is adjacent to New Middletown Fire Station and New Middletown Elementary School, providing families and workers with easy access to food and general household items to accommodate their daily needs. Furthermore, the subject is the only variety store in the trade area, creating a large consumer draw with virtually no competition. The 5-mile trade area is supported by over 8,000 residents and 1,600 daytime employees. Residents within 1-,3-, and 5-miles of the site boast a healthy average household income of $91,320, $90,559, and $92,600, respectively.
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 92,347 SF
Highlights
- New 15-Year Lease | Scheduled Rental Increases | Absolute NNN | Established Brand | 2023 Construction
- Located Along New Middletown Elizabeth Road | Strong Community with Regional Tenants | Limited Competition
- Demographics in 5-Mile Trade Area
Nearby Properties
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