407 Frst Home St Roachdale, IN 46172-9169

Property Details for 407 Frst Home St

Year built

1961

Construction

TYPE NOT SPECIFIED

Lot size

1.50 lot acres

Property size

2,116 SF

Zone code

ZO01

Property type

Office Properties & Spaces

APN

67-02-12-101-007.000-006

APU

670212101007000006

Description

This exceptional investment opportunity presents a brand-new, 9,100-square-foot Dollar General store in Roachdale, Indiana, situated within the Indianapolis market. The property boasts a 15-year absolute NNN lease, commencing November 1, 2024, and expiring October 31, 2039, with zero landlord responsibilities. The lease includes five, five-year renewal options, each featuring a 5% rent increase. Dollar General Corporation, a tenant with an investment-grade "BBB" credit rating, provides a corporate guarantee. Built in 2024, this single-story building sits on a 1.5-acre lot with 30 parking spaces and is zoned for commercial use. The property enjoys a prime location on E Forest Home Street, a main thoroughfare, experiencing 1,880 cars per day. It's the only dollar store within a nine-mile radius, serving a 10-mile population of 13,247 with a three-mile average household income of $71,659. The asking price of $1,826,030 reflects a 6.90% cap rate based on a net operating income (NOI) of $125,996. This presents a compelling opportunity for 1031 exchange buyers or passive investors seeking a secure, high-return investment in a strong retail sector. The property's strong location, long-term lease, and creditworthy tenant combine to offer a stable and profitable investment.

Location Insight

City

Roachdale

County

Putnam

State

Indiana

Longitude

-86.7942

Latitude

39.8489

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments