421 Jefferson St Covington, IN 47932

This exceptional investment opportunity presents a net-leased Dollar General store located at 421 Jefferson St, Covington, IN 47932. The property boasts 8,000 square feet on a 0.408-acre lot, built in 1999, and features a single-story building with commercial zoning. Currently operating at 100% occupancy, the property offers a strong net operating income (NOI) of $66,000, resulting in an 8.00% cap rate. The lease, a triple-net (NNN) agreement with Dollar General, has a remaining term of approximately 4.1 years, extending to December 31, 2028, with a 5-year option including a 10% rent increase. The asking price is $825,000, translating to $103.12 per square foot. This prime retail location is situated in Covington's town center, benefiting from high foot traffic and its position as the only Dollar General store in the immediate area. Its proximity to US Hwy 136 and an Interstate 74 interchange enhances accessibility and visibility. The property's strong tenant, Dollar General, a Fortune 150 company with a strong BBB credit rating, provides significant investment security. The property's location within a thriving downtown neighborhood, near other retail establishments, banks, restaurants, and the Fountain County courthouse, further solidifies its value and potential for long-term growth. The property's Parcel Number (APN) is 23-06-35-224-024.000-016.