635 Jackson St Mulberry, IN 46058
- Retail properties
- 12,687 SF
- 2.41 lot acres
Current Use by Public Records
- Retail properties
Property Details for 635 Jackson St
- Year built
- 2024
- Lot size
- 2.41 lot acres
- Property size
- 12,687 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 12,687 square-foot Dollar General Market in Mulberry, Indiana, situated on a 2.41-acre lot. The property boasts a 15-year absolute NNN lease commencing November 1, 2024, with 5% rent bumps every five years and five 5-year options. The tenant, Dollar General, is investment-grade rated BBB by Standard & Poor's, ensuring strong financial stability. With a 6.65% cap rate and a substantial net operating income (NOI) of $155,061, this asset offers significant returns. Strategically located on State Road 38 (West Jackson St), the property benefits from high visibility and accessibility. The area demographics are highly favorable, with over 49,900 people residing within a ten-mile radius and an average household income exceeding $102,306 within five miles. Limited competition further enhances the property's value. The building's construction is slated for completion in 2024, representing a new, modern facility. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a long-term lease and significant upside potential. The asking price is $2,331,744, translating to $183.79 per square foot. The property's location is less than 13 miles southeast of Lafayette and 50 miles northwest of downtown Indianapolis. The nearest competing dollar store is 7 miles away.
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
- Mulberry
- County
- Clinton
- State
- Indiana
- Longitude
- -86.6749
- Latitude
- 40.3476
