Dollar General Store in
For Sale
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101 N State St, Lizton, IN 46149
9,504 SF Dollar General store in Indianapolis MSA.
Property Size9,026 SF
Price / SF$131.29
Days on Market961
Property Features for 101 N State St
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2011
Tenancy
Single
Listing Agency:
SEPG ASSOCIATES
Listed By:
Eric Hillenbrand, CCIM, CLS · License #IN RB14037337
Source:
Crexi
Added: Mar 12, 2024
Changed: Oct 26
Last Checked: Oct 26 at 4:04PM
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 SEPG ASSOCIATES
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Investment Insights
Based on property information with market context.
This 9,504 SF Dollar General store is located in Lizton, Indiana, part of the Indianapolis MSA. Constructed and opened in 2011, the property was originally leased on a 15-year NNN basis, assigning zero landlord responsibilities. The lease, corporately guaranteed by Dollar General Corporation (rated BBB, investment grade), includes 5% rent increases every 5 years, including at each of the five 5-year renewal options. The current rent is $80,442.58, with a 10% increase scheduled in just under 3 years, and another 10% increase for each 5-year option.
Key Highlights
- Corporately guaranteed lease by Dollar General Corporation (BBB Investment Grade).
- NNN lease structure with zero landlord responsibilities.
- Rent increases of 5% every 5 years, including option periods.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,724
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,174,480
$2.2M
Cap Rate 7%
$1,553,200
$1.6M
Cap Rate 9%
$1,208,044
$1.2M
Market Conditions
NOI Build-Up for 9,026 SF
Gross rent
$162.5K $18.00/SF
− Vacancy
−$7.1K −$0.79/SF
EGI
$155.3K $17.21/SF
− OpEx
−$46.6K −$5.16/SF
NOI
$108.7K $12.05/SF
Area
Hendricks County, IN
Vacancy
4.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,174,480
Cap Rate 7%
$1,553,200
Cap Rate 9%
$1,208,044
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.46M – $1.94M
NOI $116,490 @ 7.0% cap · market cap 9.83%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,724 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,603 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46149, IN
1,894
Population
816
Households
2.3
Avg Household Size
43
Median Age
32%
College-Educated
94%
High-School Grad
26.6 sq mi
ZIP Area
71
Density / Sq Mi
$86,625
Median Household Income
$48,854
Median Earnings
$1,107
Median Rent
$242,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 9,504 SF Dollar General store in Indianapolis MSA.
Where is this grocery and convenience store located?
The property is located at 101 N State St Lizton, IN.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Corporately guaranteed lease by Dollar General Corporation (BBB Investment Grade).; NNN lease structure with zero landlord responsibilities.; Rent increases of 5% every 5 years, including option periods.
