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.

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
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

View FullscreenMap

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


© Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions.