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Dollar General Plus 2570 New Middletown Elizabeth Rd SE

10,640 SF Retail Building New Middletown, IN 47160 $2,243,916 CAD ($211 CAD/SF) 6.75% Cap Rate

Investment Highlights

  • New 15-Year Lease | Scheduled Rental Increases | Absolute NNN | Established Brand | 2023 Construction
  • Demographics in 5-Mile Trade Area
  • Located Along New Middletown Elizabeth Road | Strong Community with Regional Tenants | Limited Competition

Executive Summary

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.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,640 SF
Year Built
2023
Price
$2,243,916 CAD
Price Per SF
$211 CAD
Cap Rate
6.75%
NOI
$151,474 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.12 AC
Zoning
Commercial

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Dollar General
  • -
  • 99,999 SF
  • -
  • Lorem Ipsum
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Dollar General - 99,999 SF - Lorem Ipsum -
  • Listing ID: 31266802

  • Date on Market: 2023-07-27

  • Last Updated:

  • Address: 2570 New Middletown Elizabeth Rd SE, New Middletown, IN 47160

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