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Dollar General (Fort Wayne MSA)

17604 Wayne St, Zanesville, IN 46799

Listing Price: $1,131,000

Cap Rate
7.00%
Tenant Name
Dollar General
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
7,545
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.49

Investment Overview

LOW RENT & PRICE POINT
• This Dollar General has a low rent which equates to a low price point of $1.1 million

10-YEAR CORPORATE NNN LEASE
• The subject property has been here since 2019 and has just under 10 years left on its 15-year corporate NNN lease.
• There are 10-percent rent increases in each of the five, 5-year option periods.
• The Tenant is 100% responsible for all expenses, including taxes, CAM, Insurance, roof and structure.

NEAR 4.6M SQUARE FOOT GENERAL MOTORS ASSEMBLY PLANT
• The subject property is located less than 5 miles from a 4.6 million square foot General Motors manufacturing plant that supports 4,363 employees.
• Employees at Fort Wayne Assembly build more than 1,300 trucks each day, assisted by over 2,200 robots.
• General Motors has invested $1.9 Billion in it’s Fort Wayne operation. The facility has paid its employees over $400 million in taxable wages, and donated over $600K to local Fort Wayne nonprofits.

POSITIONED NEAR 2 MAJOR INTERSTATES (60,748 VPD)
• This Dollar General is located less than 3 miles from I-469 (24,714 VPD) which connects Zanesville directly to downtown Fort Wayne
• The property is also located less than 5 miles from I-69 (36,034 VPD).

AFFLUENT FORT WAYNE SUBURB WITH ATTRACTIVE 10.76% GROWTH
• Zanesville, an affluent and growing suburb, with the average household income of $108,040, and 10.76% growth within 5 miles, is located 15 miles south of Fort Wayne, IN and is part of the MSA.
• Fort Wayne has an estimated population of 264,488 and is the second largest city in Indiana and the 77th most populated city in the U.S.
• Fort Wayne ’s economy is based upon distribution, transportation and logistics, healthcare, professional and business services, leisure and hospitality, financial services, and the defense industry.
• The city is beginning a multi-phase development to convert its riverfront into a vibrant tourist and retail area.
• Fort Wayne is home to Indiana University Fort Wayne (13,459 students) and Purdue University Fort Wayne (14,326 students).
• Fort Wayne is the county seat of Allen County.

INVESTMENT GRADE TENANT (S&P: BBB) W/ 20,000 LOCATIONS
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 20,000 locations and plans to open 800 stores in 2024.
• Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion

Investment Highlights

  • Low Rent & Price Point
  • 10-Year Corporate NNN Lease
  • Near 4.6M Square Foot General Motors Assembly Plant
  • Positioned Near 2 Major Interstates (60,748 VPD)
  • Affluent Fort Wayne Suburb With Attractive 10.76% Growth
  • Investment Grade Tenant (S&P: BBB) W/20,000 Locations

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Discount

Dollar General (Fort Wayne MSA)

Listing Price: $1,131,000

Cap Rate
7.00%
Tenant Name
Dollar General
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
7,545
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.49

Investment Highlights

  • Low Rent & Price Point
  • 10-Year Corporate NNN Lease
  • Near 4.6M Square Foot General Motors Assembly Plant
  • Positioned Near 2 Major Interstates (60,748 VPD)
  • Affluent Fort Wayne Suburb With Attractive 10.76% Growth
  • Investment Grade Tenant (S&P: BBB) W/20,000 Locations

Investment Overview

LOW RENT & PRICE POINT • This Dollar General has a low rent which equates to a low price point of $1.1 million 10-YEAR CORPORATE NNN LEASE • The subject property has been here since 2019 and has just under 10 years left on its 15-year corporate NNN lease. • There are 10-percent rent increases in each of the five, 5-year option periods. • The Tenant is 100% responsible for all expenses, including taxes, CAM, Insurance, roof and structure. NEAR 4.6M SQUARE FOOT GENERAL MOTORS ASSEMBLY PLANT • The subject property is located less than 5 miles from a 4.6 million square foot General Motors manufacturing plant that supports 4,363 employees. • Employees at Fort Wayne Assembly build more than 1,300 trucks each day, assisted by over 2,200 robots. • General Motors has invested $1.9 Billion in it’s Fort Wayne operation. The facility has paid its employees over $400 million in taxable wages, and donated over $600K to local Fort Wayne nonprofits. POSITIONED NEAR 2 MAJOR INTERSTATES (60,748 VPD) • This Dollar General is located less than 3 miles from I-469 (24,714 VPD) which connects Zanesville directly to downtown Fort Wayne • The property is also located less than 5 miles from I-69 (36,034 VPD). AFFLUENT FORT WAYNE SUBURB WITH ATTRACTIVE 10.76% GROWTH • Zanesville, an affluent and growing suburb, with the average household income of $108,040, and 10.76% growth within 5 miles, is located 15 miles south of Fort Wayne, IN and is part of the MSA. • Fort Wayne has an estimated population of 264,488 and is the second largest city in Indiana and the 77th most populated city in the U.S. • Fort Wayne ’s economy is based upon distribution, transportation and logistics, healthcare, professional and business services, leisure and hospitality, financial services, and the defense industry. • The city is beginning a multi-phase development to convert its riverfront into a vibrant tourist and retail area. • Fort Wayne is home to Indiana University Fort Wayne (13,459 students) and Purdue University Fort Wayne (14,326 students). • Fort Wayne is the county seat of Allen County. INVESTMENT GRADE TENANT (S&P: BBB) W/ 20,000 LOCATIONS • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 20,000 locations and plans to open 800 stores in 2024. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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