215 Main St Brownstown, IN 47220-2018

Property Details for 215 Main St

Year built

1990

Construction

WOOD

Lot size

0.26 lot acres

Property size

9,040 SF

Property type

Outlet malls

APN

36-54-14-102-072.000-002

APU

365414102072000002

Description

This exceptional investment opportunity presents a fee-simple ownership of a 9,000 square foot Dollar General store located at 215 S Main St, Brownstown, IN 47220. Built in 1990 on a 0.51-acre lot, this single-tenant property boasts a strong 8.5% cap rate, generating a net operating income (NOI) of $84,095. The property is subject to a Net Net (NN) lease with a credit-rated corporate guarantor, ensuring consistent cash flow. The current lease, commenced on November 30, 2010, has a remaining term of approximately one year, with four, five-year lease options, each including a 10% rent increase. The tenant, Dollar General, has a history of exercising these options, demonstrating their commitment to the location. The property's prime location on Main Street benefits from high visibility and significant daily vehicle traffic. The asking price is $989,355, translating to $109.93 per square foot and representing a compelling price-per-unit given the strong tenant and lease terms. This is a rare opportunity to acquire a well-performing, low-maintenance retail investment with a highly reputable national tenant in a desirable location. The property's strong financials, coupled with the long-term lease and favorable lease terms, make this an attractive investment for discerning buyers seeking stable, high-yield returns.