9180 In-67 Redkey, IN 47373

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.

Location Insight

City

Redkey

County

Jay

State

Indiana

Longitude

-85.1535

Latitude

40.3543