3451 W 37th Ave - Freestanding FOR SALE


Hobart, IN 46342
$2,155,649 USD
3451 W 37th Ave, Hobart, IN for Sale
$2,155,649 USD
Freestanding - FOR SALE
1/1
null | 6.55% Cap Rate

3451 W 37th Ave
Hobart, IN 46342


HIGHLIGHTS

  • Rare 5% primary term rental escalations
  • Positioned within the Chicago MSA
  • 122,900+ people live within a 5-mile radius
  • NNN – No landlord responsibilities
  • Immediate access to I-65 (110,000 VPD) & I-94 (169,800 VPD)
  • Average household income within five miles is $64,104

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Market property positioned within the Chicago MSA in Hobart, Indiana. The asset features a new 15-year lease that will commence in March 2025 (estimated) following the completion of construction. The subject lease features the new and rare structure of 5% rental escalations every 5 years throughout the primary term and options. The lease is absolute triple net and presents no landlord responsibilities. Furthermore, there is a corporate guaranty from Dollar General Corporation (Standard & Poor’s: BBB). The 12,480 square-foot building is located just off West 37th Avenue which experiences over 19,800 vehicles per day. Additionally, the property is positioned within proximity to two major Interstates: I-65 (110,000 VPD) and I-94 (169,800 VPD), connecting Hobart to Indianapolis and Chicago respectively. The area surrounding the subject property features an above average population size for Dollar General locations. There are over 122,900 people living within a five-mile radius. The average household income within the same radius is $64,104. The property will also benefit from the lack of grocery competition that serves the surrounding neighborhoods. The city of Hobart has recently recognized the necessity of a comprehensive transportation plan to address anticipated population growth in the coming years. Please see the following page for more information. Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee, which has been in expansion mode for several years. Dollar General offers products that are frequently used and replenished—such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items—at low, everyday prices in convenient neighborhood locations. A leading discount retailer, Dollar General operates more than 18,130 stores in 46 states and has plans for significant future growth.

FOR SALE DETAILS

PRICE

$2,155,649 USD

PRICE/SF

$173 USD /SF

CAP RATE

6.55%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.47 AC

LAND SF

107,649 SF

ZONING

B-3

APN/PARCEL ID

45-08-26-226-001.000-018,45-08-26-226-002.000-018,45-08-26-226-003.000-018,45-08-26-226-004.000-018,45-08-26-226-005.000-018,45-08-26-226-014.000-018

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info

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Randy BlanksteinThe Boulder GroupMore Info

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