Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    421 Jefferson St Covington, IN 47932

    For Sale
    $825,000

    High-yield, single-tenant retail investment.

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a net-leased Dollar General store located at 421 Jefferson St, Covington, IN 47932. The property boasts 8,000 square feet on a 0.408-acre lot, built in 1999, and features a single-story building with commercial zoning. Currently operating at 100% occupancy, the property offers a strong net operating income (NOI) of $66,000, resulting in an 8.00% cap rate. The lease, a triple-net (NNN) agreement with Dollar General, has a remaining term of approximately 4.1 years, extending to December 31, 2028, with a 5-year option including a 10% rent increase. The asking price is $825,000, translating to $103.12 per square foot. This prime retail location is situated in Covington's town center, benefiting from high foot traffic and its position as the only Dollar General store in the immediate area. Its proximity to US Hwy 136 and an Interstate 74 interchange enhances accessibility and visibility. The property's strong tenant, Dollar General, a Fortune 150 company with a strong BBB credit rating, provides significant investment security. The property's location within a thriving downtown neighborhood, near other retail establishments, banks, restaurants, and the Fountain County courthouse, further solidifies its value and potential for long-term growth. The property's Parcel Number (APN) is 23-06-35-224-024.000-016.

    Property Features for 421 Jefferson St

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,000 SF
    Lot Size
    17,772 SF

    Building Details

    Year Built
    1999
    Buildings
    1
    Stories
    1

    HighLights

    • Net‑leased Dollar General store in Covington, IN.
    • 8,000 SF building on a 0.408‑acre lot, built in 1999.
    • $825,000 asking price ($103.12/SF), 8.00% cap rate, $66,000 NOI.
    • NNN lease with Dollar General (Fortune 150 company) through December 2028, with a 5‑year option.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store FedEx OnSite Mailing Service Western Union Money Transfer Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Fountain
    State
    Indiana
    Longitude
    -87.3960339
    Latitude
    40.1388916

    Nearby Comparable

    • $825,000
      8,000 SF

      NNN Leased Dollar General Store

      Long-term NNN leased Dollar General in downtown Covington, Indiana.
      421 Jefferson St, Covington, IN 47932
      View Details
    • $234,000
      26.00 Acres

      26 Acres of Rural Land

      26 acres in Warren County, Indiana, with income and recreation.
      Frye Hill Rd, Williamsport, IN 47993
      View Details
    • $214,900
      29.00 Acres

      Warren County Vacant Land

      29 acres of wooded land perfect for recreation and building.
      Frye Hill Rd, Williamsport, IN 47993
      View Details
    • $629,000
      80.00 Acres

      80 Acres of Rural Land

      80-acre property with tillable ground, wildlife pond, and hunting.
      Frye Hill Rd, Williamsport, IN 47993
      View Details
    • Contact for pricing
      32.00 Acres

      32 Acres Danville Commercial Land

      Prime Retail Development Opportunity in Danville, IL
      0 Southgate Dr, Danville, IL 61834
      View Details

    Nearby Similar for Sale

    • $825,000
      8,000 SF

      NNN Leased Dollar General Store

      Long-term NNN leased Dollar General in downtown Covington, Indiana.
      421 Jefferson St, Covington, IN 47932
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-yield, single-tenant retail investment.
    Where is this individual retail property located?
    The property is located at 421 Jefferson St Covington, IN.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: Net-leased Dollar General store in Covington, IN.; 8,000 SF building on a 0.408-acre lot, built in 1999.; $825,000 asking price ($103.12/SF), 8.00% cap rate, $66,000 NOI.
    Request Owner's contact information
    421 Jefferson St Covington, IN 47932
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    421 Jefferson St
    Covington, IN 47932
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    421 Jefferson St Covington, IN 47932
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.