Property Details for 1010 In-44

Year built

2006

Lot size

3.57 lot acres

Property size

14,794 SF

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 14,794 square foot retail storefront in Shelbyville, Indiana, currently occupied by Dollar Tree under a sublease from Walgreens. The property boasts a 24.9-year absolute NNN lease with a corporate guarantee, offering a remaining term of 6.9 years and ten 5-year renewal options. Built in 2006, this Class A building features a drive-thru and is situated on a sizable 3.57-acre lot with excellent visibility and access on IN-44. The property enjoys a prime location within Shelbyville's main commercial corridor, minutes from I-74 and in close proximity to numerous national retailers, including Walmart, Starbucks, and Wendy's. The current NOI is $308,000, yielding a 9.94% cap rate at an asking price of $3,100,000 ($209.54/sq ft). This "mailbox money" asset requires minimal landlord responsibilities, making it an attractive investment with strong potential for future returns. The sublease to Dollar Tree further underscores the location's success and desirability. The property's size also offers significant future development possibilities. This is a rare opportunity to acquire a high-quality, well-located retail property with a strong tenant and significant upside potential.

Location Insight

City

Shelbyville

County

Shelby

State

Indiana

Longitude

-85.7611

Latitude

39.5216