Current Use by Public Records
- Retail properties & Spaces
Property Details for 1940 In-57
- Year built
- 2009
- Lot size
- 2.41 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General storefront in Oakland City, Indiana. The 9,014 square-foot building, constructed in 2009, sits on a 2.41-acre lot and boasts a strong 8.00% cap rate with a net lease structure. The current lease, commencing June 9, 2015, has approximately 5.6 years remaining, followed by four five-year options with rent bumps of 4.77% at the first option and 10% for each subsequent option. The property enjoys 100% occupancy and a strong NOI of $75,072. Its strategic location on IN-57 and IN-64 offers excellent visibility at a signalized intersection with a combined 15,372 vehicles per day. Proximity to Oakland City University (one mile), I-69 (1.4 miles), and other national retailers further enhances its appeal. Dollar General, an investment-grade tenant (NYSE: DG) with a BBB credit rating from S&P, reported $38.69 billion in revenue in 2023 and opened its 20,000th store in 2024. This location is a top performer, ranking in the top 35% of Indiana stores in sales and second out of thirteen within a fifteen-mile radius in terms of visits. The property features a concrete parking lot and a pitched metal roof. The asking price is $938,400, translating to $104.10 per square foot. This is a rare opportunity to acquire a high-performing, net-leased retail property anchored by a financially stable, nationally recognized tenant.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oakland City
- County
- Gibson
- State
- Indiana
- Longitude
- -87.3687
- Latitude
- 38.3275
