3451 37th Ave Hobart, IN 46342-1751

This exceptional investment opportunity presents a brand-new, 12,480-square-foot freestanding Dollar General grocery store located at 3451 W 37th Ave, Hobart, IN 46342. The property sits on a 1.94-acre lot and boasts a single-story building constructed in 2024. It features an absolute NNN lease with a highly reputable tenant, Dollar General, ensuring minimal landlord responsibilities. The 15-year lease commenced in December 2024, and includes a favorable 5% rent increase every five years, providing consistent and growing income. The current annual net operating income (NOI) is $141,195, yielding a 6.5% cap rate at the asking price of $2,223,551. A July 2, 2024 appraisal valued the property at $2,172,000. The property is zoned for commercial use and offers a strong return on investment with an average cap rate of 6.83% over the 15-year lease term. This is a rare opportunity to acquire a high-quality, newly constructed retail property with a long-term lease in a desirable location. The property's strong tenant, favorable lease terms, and attractive cap rate make it an ideal addition to any investment portfolio. The occupancy date was September 2, 2024.