1010 In-44 Shelbyville, IN 46176
- Retail properties
- 14,794 SF
- 3.57 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1010 In-44
- Year built
- 2006
- Lot size
- 3.57 lot acres
- Property size
- 14,794 SF
- Property type
- Retail properties
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shelbyville
- County
- Shelby
- State
- Indiana
- Longitude
- -85.7611
- Latitude
- 39.5216
