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Views: 111 DOM: 172 Updated: 09.29.24 Posted: 06.14.24 Status: Active

Summary

Price $1,283,600
Built/Renov 2018
Tenant Dollar General
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,100
Lease Start 09-17-2018
#Units 19,986
Price/SF $141.05
Expiration 09-30-2033
Tenant Type Dollar/Discount
NOI $89,852
R. Term 8.10
Ownership Fee Simple
Rent/SF $9.87
Increases 10.0%/9/yrs
Pop 5Mi 44,046
Lot/AC 0.90
Options 5/5yrs/10%
AHHI 5Mi $57,497

Lease Highlights

  • Dollar General has 9+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on East 28th Street, positioned between Indiana Wesleyan University, a private Christian university with 3,000 students, and the VA Northern Indiana Health Care System hospital. The immediate area is surrounded by well-known national tenants including Meijer, Hobby Lobby, T.J. Maxx, Texas Roadhouse, McDonald’s, and more. The 5-mile trade area is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,986
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning supplies,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,642 23,663 41,733
2024 Total Population : 4,744 24,092 42,516
2024 Employed Civilian Pop : 1,709 9,227 17,321
2024 Total Businesses : 110 965 1,580
2024 Average Household Income : $ 62,584 $ 64,663 $ 70,950
2024 Total Consumer Spending : $ 101 M $ 539 M $ 1119 M
2024 Median Age : 34 37 40
2024 Total Households : 1,779 9,238 17,596
2024 Pop Age 25+: Bachelor's Degree : 197 1,320 3,189
2024 Average Home Value : $ 129,352 $ 139,903 $ 157,387
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East 38th Street S Adams St 2021 8,034 0.56 mi
South Meridian Street E 38th St 2021 4,450 0.63 mi
East 38th Street Cardinal Greenway Trl 2021 8,034 0.64 mi
East 38th Street S Blair St 2018 5,325 0.66 mi
East 33rd Street Cardinal Greenway Trl 2021 1,617 0.68 mi
South Adams Street E 39th St 2021 10,300 0.69 mi
South Meridian Street E 45th St 2021 1,155 0.70 mi
South Adams Street E 34th St 2021 4,916 0.70 mi
South Adams Street S Adams St 2018 8,972 0.75 mi
South Lincoln Boulevard Water St 2021 1,530 0.83 mi

Listing Broker

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