9180 In-67 Redkey, IN 47373
- Retail properties
- 9,100 SF
- 1.21 lot acres
Current Use by Public Records
- Retail properties
Property Details for 9180 In-67
- Year built
- 2018
- Lot size
- 1.21 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, absolute NNN leased Dollar General store in Redkey, Indiana. Located at 9180 IN-67, this 9,100 square foot building, constructed in 2018, sits on a 1.21-acre lot. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $81,264. The lease, with a remaining term of 8.2 years, extends to January 31, 2033, and includes five, five-year renewal options with 10% rent bumps. The tenant, Dollar General, is investment-grade credit rated with a corporate guarantee, ensuring a secure and stable income stream. This single-tenant property benefits from a 100% occupancy rate and enjoys a strategic location on State Highway 67, serving a community of nearly 6,000 people within a 5-mile radius and over 50,000 within 15 miles. The property is the only dollar store and general store in the immediate area, with the nearest competitor over 5 miles away. The asking price is $1,160,914, translating to a price per square foot of $127.57. This is a turnkey investment ideal for 1031 exchange purposes. The property offers a compelling combination of strong tenant credit, long-term lease, 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
- Redkey
- County
- Jay
- State
- Indiana
- Longitude
- -85.1535
- Latitude
- 40.3543