145 Chestnut St Monrovia, IN 46157-9564
Property Lookup
Property profile & analytics
145 Chestnut St Monrovia, IN 46157-9564
- Outlet malls
- 9,230 SF
- 0.96 lot acres
Property ID
US31-1123050
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Dollar General / Discount Store
- Morgan County Public Library / Public Library
- FedEx OnSite / Postal Service / Courier Service
- Western Union / Bank / Credit Union
Property Details for 145 Chestnut St
- Year built
- 2009
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.96 lot acres
- Property size
- 9,230 SF
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 55-04-12-180-004.002-022
- APU
- 550412180004002022
Description
This fee-simple offering presents a compelling investment opportunity: a 9,100-square-foot Dollar General storefront in Monrovia, Indiana. The property, built in 2009, boasts a Class A rating and is situated on a 0.96-acre lot. The current lease, a Net Net (NN) single-tenancy agreement with Dollar General, has a remaining term of 1.5 years, expiring May 31, 2026, with five five-year lease options including a 10% rent bump at each option. The property generates a strong net operating income (NOI) of $82,500, resulting in an attractive 8.25% capitalization rate. The asking price is $1,000,000, translating to $109.89 per square foot. This location is a top performer, ranking in the top 30% of Indiana and top 33% nationwide in visits per Placer. The property benefits from its position in a booming suburb of Indianapolis, with a three-mile average household income of $106,528. Its strategic location near the intersection of IN-42 and IN-39 (combined VPD of 8,570), 1.5 miles from I-70 (64,430 VPD), and proximity to major residential developments and industrial parks, including Westpoint Business Park (a 6M SF, 550-acre industrial park), further enhances its value. The area also benefits from the presence of major distribution facilities for companies such as Sunbeam, Geodis, DHL, FedEx, Chewy, GXO, Johnson & Johnson, and XPO Logistics, with approximately 1,500 combined employees. Significant future residential growth is anticipated, with 742 additional homes scheduled for construction between 2022 and 2027. The property includes a concrete parking lot and a concrete dumpster enclosure. Monrovia's advantageous location within the Indianapolis MSA, a 24-mile drive from Indianapolis' city center and a 13-minute drive to Indianapolis International Airport, adds to its appeal.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $795,000 Current use
- AUTO REPAIR, GARAGE
- $650,000 Change: -18% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $640,000 Change: -20% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Monrovia
- County
- Morgan
- State
- Indiana
- Longitude
- -86.4789
- Latitude
- 39.5806
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,670
$148,300
$526,700
$675,000
-
$148,300
$526,700
$675,000
