2626 Central AveLake Station, IN 46405

This Lake Station, Indiana Family Dollar presents a compelling investment opportunity. Boasting a 10,920 square foot building on .79 acres, this property features a 25.8-year Net Net lease with a corporate guarantee from Family Dollar, expiring December 31, 2026, with 2.1 years remaining. The property includes 40 parking spaces and benefits from a 6.62% cap rate and a pro-forma cap rate of 8.05%. The current NOI is $58,891, with a pro-forma NOI of $71,614. Recent improvements include new HVAC units (2020) and a newly paved parking lot (2022). The Family Dollar tenant completed extensive renovations in 2022, bringing the store to their current format. The asking price is $890,000, translating to $81.50 per square foot. Five five-year lease options exist, with rent bumps of 17% in Option #3 and 10% in Options #4-7. The vacant .79 acres offers significant redevelopment potential, valued at $50,000 based on comparable sales. The property's strategic location ensures high visibility and convenient access, contributing to the store's consistent success. Built in 2001, this property offers a blend of established income and future growth potential.