2570 New Middletown Elizabeth Rd SE - Freestanding FOR SALE


New Middletown, IN 47160
$1,578,000 USD
248-688-0630
2570 New Middletown Elizabeth Rd SE, New Middletown, IN for Sale
$1,578,000 USD
Freestanding - FOR SALE
1/4
null | 6.75% Cap Rate

2570 New Middletown Elizabeth Rd SE
New Middletown, IN 47160


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

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.

FOR SALE DETAILS

PRICE

$1,578,000 USD

PRICE/SF

$148 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.12 AC

LAND SF

92,347 SF

ZONING

Commercial

APN/PARCEL ID

31-14-14-300-005.000-022

ASK ABOUT THIS PROPERTY

Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.