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    NNN Leased Retail Investment Opportunity Title is generated by Realmo AI

    TBD South Chicago Ave / Jackson St, Brazil, IN 47834

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    For Lease
    $243 SF/Yr

    Dollar General in Brazil, IN

    Added:
    Dec 23, 2024
    Days on Market:
    514
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for TBD South Chicago Ave / Jackson St

    General Information

    Standard status
    Active
    Property type
    Individual retail properties, Other retail properties, Retail properties & Spaces
    Elevators
    N/A
    Lease Type
    NNN
    Lease Term
    5+ Years
    Rate Type
    Yearly

    Building Details

    Year Built
    2025
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Cody Crist

    Listing agent Cody

    Listing office

    Listing date Dec 23, 2024

    HighLights

    • New Development Dollar General in Brazil, IN With Rent Set to Commence February 2025
    • 15 Years Absolute NNN Lease Requiring Zero LL Responsibilities
    • Attractive 5% Increase in 5 Year Option Periods
    • Limited Local Retail Competition - Store Serves as Primary Source of Goods for Local Residents
    • Strategically Located Along US‑40 Generating Combined Traffic Counts of 42,000+ VPDs
    • Situated Along Retail Corridor With National Tenants Including Dairy Queen, McDonald's, Kroger and KFC
    • Dollar General is an Investment Grade Tenant With a S&P Credit Rating of BBB

    Overview

    This property presents an investment opportunity featuring a newly developed Dollar General store in Brazil, Indiana, scheduled to open in February 2025. The property includes 10,640 square feet of rentable space, operating under a 5+ year NNN lease. The lease stipulates zero landlord responsibilities and includes a 5% rent increase during each 5-year option period. Situated along US-40, the location benefits from high traffic volume exceeding 42,000 vehicles daily. Its position within a retail corridor, alongside national tenants such as Dairy Queen, McDonald's, Kroger, and KFC, ensures visibility and customer traffic. The Dollar General store serves as a primary source of goods for local residents. The annual rent is $258,705, with a rate of $243.15 per square foot. Dollar General has a strong S&P credit rating of BBB.
    Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Map

    City
    Brazil
    County
    Clay
    State
    Indiana
    Longitude
    -87.1262
    Latitude
    39.5158

    Nearby Similar for Lease

    • $1,000/Mo

      Versatile Commercial Space with Yard

      780 SF commercial space with flexible layout and fenced yard.
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    • $243 SF/Yr

      Dollar General

      New Dollar General store in Brazil, Indiana, opening February 2025.
      TBD South Chicago Ave / Jackson St, Brazil, IN 47834
      View Details
    • Contact for pricing
      2,185 SF

      Retail Space in Prime Location

      Retail spaces available in high-traffic area near Kroger.
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    FAQs

    What type of property is this?
    Individual retail property - Dollar General in Brazil, IN
    Where is this individual retail property located?
    The property is located at TBD South Chicago Ave / Jackson St Brazil, IN.
    What is the lease rate?
    The lease rate is $243 SF/Yr.
    What are key features of this property?
    This property features: New Development Dollar General in Brazil, IN With Rent Set to Commence February 2025; 15 Years Absolute NNN Lease Requiring Zero LL Responsibilities; Attractive 5% Increase in 5 Year Option Periods
    (817) 584-2000
    We can help!
    Listing Contact
    Cody Crist
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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