Dollar General Market Grocery
For Sale
Contact for pricing
1900 S Anderson St, Elwood, IN 46036
Double-sized Dollar General Market concept combines full-service grocery offerings with a Dollar General store.
Property Size24,341 SF
Price / SF$143.91
Days on Market249
Property Features for 1900 S Anderson St
General Information
Standard status
Active
Size
24,341 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$245,229
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
KELCO Investments
Listed By:
Kelly Huang · License #IL 471008018
Source:
Crexi
Added: Feb 17
Changed: Oct 21
Last Checked: Oct 23 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELCO Investments
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Investment Insights
Based on property information with market context.
This offering is a Dollar General Market store, described by the operator as a supermarket concept that is double the size of a typical DG Market. The concept is positioned to function as a traditional full-service grocery store and a Dollar General store. Public remarks also note a proposed 10-year renewal prior to the commencement of Dollar General’s second renewal option period. The operator has also indicated it will install a brand new HVAC system at its own expense in 2026.
The property is located at 1900 S Anderson St in Elwood, Indiana. Elwood is described as being 20–30 miles northeast of Noblesville and Indianapolis within the Indy-Carmel-Anderson MSA, and approximately 15 minutes from Interstate 69 to the east, according to the provided remarks.
The property is located at 1900 S Anderson St in Elwood, Indiana. Elwood is described as being 20–30 miles northeast of Noblesville and Indianapolis within the Indy-Carmel-Anderson MSA, and approximately 15 minutes from Interstate 69 to the east, according to the provided remarks.
Key Highlights
- Double‑sized Dollar General Market concept combining full‑service grocery offerings with a Dollar General store
- Placer.ai reports the Elwood store ranks #1 performing DG store in Indiana and in the top 90% nationally
- DG proposed a 10‑year renewal prior to the start of its second renewal option period
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,022
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,600,440
$4.6M
Cap Rate 7%
$3,286,029
$3.3M
Cap Rate 9%
$2,555,800
$2.6M
Market Conditions
NOI Build-Up for 24,341 SF
Gross rent
$365.1K $15.00/SF
− Vacancy
−$36.5K −$1.50/SF
EGI
$328.6K $13.50/SF
− OpEx
−$98.6K −$4.05/SF
NOI
$230.0K $9.45/SF
Area
Madison County, IN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,600,440
Cap Rate 7%
$3,286,029
Cap Rate 9%
$2,555,800
Alternative Uses
Best Use
Specialty Retail
$4.86M
$4.25M – $5.67M
NOI $340,249 @ 7.0% cap · market cap 9.71%
Second Best
Retail
$3.29M
$2.88M – $3.83M
NOI $230,022 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$5.61M
$4.91M – $6.55M
NOI $392,721 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Groceries 47%
Speedway
Shops & Services
12,343 visits/mo
0.1 miles
Dollar General Market
Groceries
11,044 visits/mo
0.1 miles
Demographics for 46036, IN
11,247
Population
5,284
Households
2.1
Avg Household Size
44
Median Age
10%
College-Educated
92%
High-School Grad
80.3 sq mi
ZIP Area
140
Density / Sq Mi
$59,082
Median Household Income
$39,022
Median Earnings
$841
Median Rent
$108,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Double-sized Dollar General Market concept combines full-service grocery offerings with a Dollar General store.
Where is this grocery and convenience store located?
The property is located at 1900 S Anderson St Elwood, IN.
What is the asking price?
The asking price for this property is $3,503,000.
What are key features of this property?
This property features: Double‑sized Dollar General Market concept combining full‑service grocery offerings with a Dollar General store; Placer.ai reports the Elwood store ranks #1 performing DG store in Indiana and in the top 90% nationally; DG proposed a 10‑year renewal prior to the start of its second renewal option period
