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Discount

Family Dollar

61 E Ridge Rd, Gary, IN 46409

Listing Price: $1,025,000

Cap Rate
8.00%
Tenant Name
Family Dollar
Years Remaining On Lease
6.7
Gross SF
11,460
Guarantor
Corporate Guarantee
Rentable SF
11,460
Price/Gross SF
$89.44
Lease Type
Double Net
Rent Per Square Feet
$7.16

Investment Overview

Marcus & Millichap is pleased to offer for sale the corporate-guaranteed 11,460-square-foot single-tenant Family Dollar (the Property) in Gary, IN, in which the tenant has over six years remaining on their double-net lease.

This ±0.64-acre property, situated at the strategic junction of Broadway and East Ridge Road in Gary, boasts an attractive location with Indiana University Northwest and Ivy Tech Community College located just 0.4 miles north of the Property.

Other educational facilities are conveniently close, with 21st Century Charter High School only 1.2 miles to the northeast, while Hess Elementary School lies to the west of this parcel. Interstate 65 and a CITGO gas station are located only a mile to the east of the Property. This offering represents a rare chance to secure a corporate-backed lease in an area known for its high visibility and accessibility. The location’s rich array of retail offerings serves not only the local community but also attracts a steady flow of traffic along Broadway and East Ridge Road.

Investment Highlights

  • Corporate-Guaranteed Double-Net Lease
  • 29 Percent Rent Increase in Renewal Option 2, Followed by 10 Percent Increases in Options 3 and 4, Concluding With a 5 Percent Increase in Renewal Option 5
  • Adjacent to the Intersection of Broadway and East Ridge Road — 21,600+ AADT
  • Only a Mile Away From Interstate 65
  • Within a Mile of Indiana University Northwest and Ivy Tech Community College
  • Michael Jackson Family Home Located Just 2.5 Miles North of the Property
  • Nearby Retail Includes McDonald's, AutoZone Auto Parts, Dunkin' and CITGO

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Discount

Family Dollar

Listing Price: $1,025,000

Cap Rate
8.00%
Tenant Name
Family Dollar
Years Remaining On Lease
6.7
Gross SF
11,460
Guarantor
Corporate Guarantee
Rentable SF
11,460
Price/Gross SF
$89.44
Lease Type
Double Net
Rent Per Square Feet
$7.16

Investment Highlights

  • Corporate-Guaranteed Double-Net Lease
  • 29 Percent Rent Increase in Renewal Option 2, Followed by 10 Percent Increases in Options 3 and 4, Concluding With a 5 Percent Increase in Renewal Option 5
  • Adjacent to the Intersection of Broadway and East Ridge Road — 21,600+ AADT
  • Only a Mile Away From Interstate 65
  • Within a Mile of Indiana University Northwest and Ivy Tech Community College
  • Michael Jackson Family Home Located Just 2.5 Miles North of the Property
  • Nearby Retail Includes McDonald's, AutoZone Auto Parts, Dunkin' and CITGO

Investment Overview

Marcus & Millichap is pleased to offer for sale the corporate-guaranteed 11,460-square-foot single-tenant Family Dollar (the Property) in Gary, IN, in which the tenant has over six years remaining on their double-net lease. This ±0.64-acre property, situated at the strategic junction of Broadway and East Ridge Road in Gary, boasts an attractive location with Indiana University Northwest and Ivy Tech Community College located just 0.4 miles north of the Property. Other educational facilities are conveniently close, with 21st Century Charter High School only 1.2 miles to the northeast, while Hess Elementary School lies to the west of this parcel. Interstate 65 and a CITGO gas station are located only a mile to the east of the Property. This offering represents a rare chance to secure a corporate-backed lease in an area known for its high visibility and accessibility. The location’s rich array of retail offerings serves not only the local community but also attracts a steady flow of traffic along Broadway and East Ridge Road.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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