Dollar General Anchored Retail - FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30863754
Property Subtypes: Convenience Store, Mixed Use, Restaurant, Street Retail, Vehicle Related, Other
Building Size (RSF): 22,435 SF
Gross Land Area: 1.31 Acres
Sale Price: $3,300,000
Unit Price: $147.09 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 7.0%
Last Updated: 2/22/2024

Overview / Comments

Unlock the potential of a fully renovated NNN Dollar General Anchored center in the thriving city of New Albany, IN. This exceptional property, just seconds from I-64 with signalized access, offers a highly visible location, investment grade tenants and a hands off NNN investment.

Key Features:
Renovated Excellence: No detail has been spared in the complete renovation of this center, encompassing a new roof, HVAC, plumbing, electric, exterior facade, and parking lot. The property exudes a fresh, modern appeal.

Ideal NNN Investment: Perfect for the savvy NNN investment buyer seeking minimal responsibilities. The center's condition and prime location make it an attractive option for a hassle-free investment.

Tenancy:
Dollar General and Bumper to Bumper: Benefit from investment-grade tenants with multi-year NNN leases in place. Enjoy the stability of rental increases already established in the original leases and all options.

McCormick Construction Lease: A five-year lease from McCormick Construction, set to commence upon signing, adds another layer of value. The lease includes an escrowed TI allowance for future modifications.

Location Highlights:
Strategic Location: Situated just off I-64, the center boasts a strategic location with high visibility and signalized access.

Growing Community: New Albany is experiencing significant growth, with multiple apartment units and developments planned within walking distance. The area is surrounded by a vibrant mix of restaurants, bars, residential units, and boutique shops.

Investment Outlook:
This Dollar General Anchored center presents an outstanding investment opportunity in a rapidly growing community. With a fully renovated facility, stable tenants, and a prime location, this property promises both immediate and long-term returns. Act now to secure your stake in this dynamic investment market.

Contact agent for more details today!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-03-500-351.000-008
Zoning: DOWNTOWN COMMERCIAL (D)
Property Visibility: Excellent
Largest Nearby Street: State St
Highway Access: 1 min to I-64
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Excellent
Year Renovated: 2021
Total Parking Spaces: 91
Parking Type: Surface
Heat Type: Natural Gas
In Flood Plain?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,326 77,390 178,051
Median Age: 34.95 36.83 36.56
Households: 4,769 31,728 73,976

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