Dollar General Retail Space

2948 W 400 N, Peru, IN 46970

For Sale

$1,977,265

Purpose-built retail property with a long-term absolute net lease and scheduled rent increases.

Property Size9,100 SF

Price / SF$217.28

Days on Market49

Property Features for 2948 W 400 N

General Information

Standard status Active

Size 9,100 SF

Property subtype Discount

Lease Type Absolute Net

Additional Details

Cap Rate 6.65%

Highway Access Yes

Amenities

15-Year Absolute Net Lease (Zero Landlord Obligations) Featuring 5% Rental Increases Every 5 Years Throughout the Initial Term and Options. Brand New 2026 Rare All-Wood Prototype Construction.

Strategic U.S. 31 Location – Positioned Directly at U.S. 31 and West 400 North, the Site Benefits from Prominent Highway Exposure and Convenient Access from West 400 North.

Ranked #111 on the Fortune 500 List. Dollar General (NYSE: DG) Features Investment Grade Credit Rating "BBB" by S&P's and Annual Revenue Exceeding $42.72 Billion.

Major North-South Transportation Corridor – U.S. 31 is a Key North-Central Indiana Artery Linking Kokomo, Peru, Rochester and South Bend, Supporting Consistent Commuter, Commercial and Regional Traffic.

Convenient U.S. 24 Connectivity – the Property Sits North of the Nearby U.S. 24 Interchange, Providing Efficient East-West Access Toward Logansport, Wabash and the Broader North-Central Indiana Region.

Minutes from Grissom Joint Air Reserve Base – Miami County's Largest Employer and Home to the 434th Air Refueling Wing, Generating Approximately $205 Million in Regional Economic Impact in Fiscal 2023.

In Close Proximity to Dukes Memorial Hospital – Critical-Access Hospital is a Major Local Employer, with Roughly 300 Reported Positions, Reinforcing Recurring Daytime Population, Healthcare-Related Traffic and Stable Year-Round Employment.

Nearby Miami County 4-H Fairgrounds Hosts the Annual County Fair and Year-Round Community Events, Drawing Families, Exhibitors, Vendors and Visitors for Livestock Shows, Concerts, Festivals and Competitions Throughout the Year. Strategic North-Central Indiana Position – Peru is Positioned Between the Employment Centers of Kokomo and Logansport, Providing Connectivity to Multiple Regional Labor Pools, Manufacturers and Institutional Demand Drivers.

Building Details

Building Size 9,100 SF

Listing Agency: Marcus & Millichap | San Diego

Listed By: Alvin Mansour · License #License(s): CA: 01391653, TX: 0606255

Source: Marcusmillichap

Added: Sep 19 Changed: Oct 26 Last Checked: Nov 6 at 5:05AM

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 Marcus & Millichap | San Diego

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Investment Insights

Based on property information with market context.

This 9,100-square-foot retail property is identified as a 2026 all-wood prototype occupied by Dollar General. The transaction includes a 15-year absolute net lease with rent increases, providing a defined lease structure for the asset.

The property is located at 2948 W 400 N in Mexico, Indiana, near the U.S. 31 corridor and West 400 North. U.S. 24 provides additional east-west connectivity, while nearby employment and activity centers include Grissom Air Reserve Base, Grissom Aeroplex, Dukes Memorial Hospital, Miami Correctional Facility, Smithfield’s Peru operation, Ivy Tech’s Peru instructional site and the Miami County 4-H Fairgrounds. The surrounding regional context includes military, healthcare, manufacturing, government and logistics employment.