169 Main St North Salem, IN 46165-9526
Property profile & analytics
169 Main St, North Salem, IN 46165-9526
- Outlet malls
- 9,100 SF
- 2.00 lot acres
Property ID
US31-2781039
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
- Western Union / Bank / Credit Union
Property Details for 169 Main St
- Year built
- 2020
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 2.00 lot acres
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 32-05-04-211-001.000-008
- APU
- 320504211001000008
Description
This exceptional investment opportunity presents a 9,026-square-foot Dollar General store located at 169 N Main St, North Salem, Indiana 46165. Built in 2021, the property boasts a strong 7.15% cap rate and a substantial net operating income (NOI) of $89,989. The absolute NNN lease, backed by a corporate guarantee, provides significant investor protection with minimal landlord responsibilities. The lease features a remaining term of 11.1 years, extending to January 1, 2036, and includes five 5-year renewal options. The property's strategic location on N Main Street, next to North Salem Elementary School, benefits from an estimated 2,062 vehicles per day. Dollar General, a highly reputable and recession-resistant tenant with a BBB credit rating, operates as the sole corporate tenant in the area, ensuring minimal competition. The asking price is $1,258,600, translating to $139.44 per square foot. This is a rare chance to acquire a stable, high-performing retail asset with a long-term lease and significant upside potential. The property is classified as a convenience store, grocery store, and storefront, catering to the local community's needs.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $380,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $677,000
Market price range: $261k - $916k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $545,000 Current use
- RESTAURANT
- $880,000 Change: +61% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $735,000 Change: +35% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $720,000 Change: +31% Conversion: Easy
- AUTO REPAIR, GARAGE
- $610,000 Change: +12% Conversion: Difficult
- MEDICAL BUILDING
- $530,000 Change: -3% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- North Salem
- County
- Hendricks
- State
- Indiana
- Longitude
- -86.642
- Latitude
- 39.8617
- 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
$21,369
$65,000
$770,100
$835,100
-
$65,000
$770,100
$835,100
