Leased Convenience Retail
For Sale
$1,012,000
Pending
9620 N Us Highway 31, Columbus, IN 47201
Single-tenant retail building leased to Dollar General under a NNN structure with ample parking.
Property Size9,100 SF
Days on Market205
Property Features for 9620 N Us Highway 31
General Information
Standard status
Pending
Size
9,100 SF
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,876
Building Details
Tenancy
Single
Listing Agency:
Realest.com
(219) 808-1520
Listed By:
Joshua Austgen
(219) 293-1657
Source:
Exprealty
Added: Mar 30
Changed: Oct 6
Last Checked: Oct 19 at 7:44AM
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 Realest.com
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Investment Insights
Based on property information with market context.
This fully leased, single-tenant retail property is structured as a NNN lease. The building is occupied by Dollar General, a nationally recognized retailer, and the tenant has been operating at the location since 2007. The current lease includes a newly executed five-year extension, providing continued long-term occupancy.
The property is located on US Highway 31 in Columbus, Indiana, a highly traveled corridor with strong traffic counts and easy access. Ample parking supports customer access for the retail use.
As an NNN investment, the landlord responsibilities are designed to be minimal, aligning with a passive cash-flow profile tied to an established national tenant.
The property is located on US Highway 31 in Columbus, Indiana, a highly traveled corridor with strong traffic counts and easy access. Ample parking supports customer access for the retail use.
As an NNN investment, the landlord responsibilities are designed to be minimal, aligning with a passive cash-flow profile tied to an established national tenant.
Key Highlights
- Single‑tenant retail building leased to Dollar General under a NNN structure.
- Dollar General has operated at the location since 2007.
- New five‑year lease extension completed for Dollar General.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,152
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,040
$1.2M
Cap Rate 7%
$830,743
$830.7K
Cap Rate 9%
$646,133
$646.1K
Market Conditions
NOI Build-Up for 9,100 SF
Gross rent
$92.8K $10.20/SF
− Vacancy
−$9.7K −$1.07/SF
EGI
$83.1K $9.13/SF
− OpEx
−$24.9K −$2.74/SF
NOI
$58.2K $6.39/SF
Area
Bartholomew County, IN
Vacancy
10.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,040
Cap Rate 7%
$830,743
Cap Rate 9%
$646,133
Alternative Uses
Best Use
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,690 @ 7.0% cap · market cap 11.63%
Second Best
Retail
$830.7K
$726.9K – $969.2K
NOI $58,152 @ 7.0% cap · market cap 5.75%
Theoretical Best
Healthcare Medical
$1.76M
$1.54M – $2.05M
NOI $123,145 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
8,772 visits/mo
0.1 miles
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
Median Home Value
Check the figures for this property
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?
NNN property - Single-tenant retail building leased to Dollar General under a NNN structure with ample parking.
Where is this nnn property located?
The property is located at 9620 N Us Highway 31 Columbus, IN.
What is the asking price?
The asking price for this property is $1,012,000.
What are key features of this property?
This property features: Single‑tenant retail building leased to Dollar General under a NNN structure.; Dollar General has operated at the location since 2007.; New five‑year lease extension completed for Dollar General.
