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Shopping Strip

Dollar General Plaza | Historical Occupancy | Signalized Intersection

5049 E 38th St, Indianapolis, IN 46218

Listing Price: $2,100,000

Cap Rate
8.00%
Gross SF
15,054
Rentable SF
15,054
Price/Gross SF
$139.50
Lot Size
1.12 acres
Year Built
1989

Investment Overview

Marcus & Millichap is pleased to present for sale Dollar General Plaza, a 15,054-square foot retail strip center anchored by Dollar General & Hair Plus Beauty Supply in Indianapolis, Indiana. The subject is located on a hard corner, 1.12-acre site at the signalized intersection of East 38th Street and Emerson Avenue. The property is currently 100% occupied with four service-based tenants that cater to the immediate neighborhood; Dollar General has a long-term lease in place through November 2027 and they make up approximately 60% of the gross leasable area. The three additional tenants include Swift Tax, Metro PCS Wireless and Hair Plus Beauty Supply. Hair Plus Beauty Supply has been operating at this location for over thirty years and is an original occupant of the building. They recently extended their lease through 2031. Dollar General Plaza represents a great opportunity for any investor looking to purchase a retail strip center located in a dense residential area of Indianapolis whose tenants cater to the immediate area. Positioned in a core Midwestern market experiencing population, economic & job growth, the offering generates an attractive yield on investment with minimal landlord expense exposure as three of the four tenants are responsible for the majority of the center’s annual operating expenses.

Investment Highlights

  • Core Indianapolis Midwestern Market Experiencing Economic & Population Growth
  • Dollar General Corporate Occupies Approximately 60% of Gross Leasable Area on a Long-Term Lease Through 2027 - Rental Increase Scheduled in 2023
  • Hair Plus Beauty Supply Has Occupied Space For Over Thirty Years - Recently Extended Their Lease Until 2031
  • Located at a Heavily Traveled, Signalized Intersection - East 38th Street and Emerson Avenue Experiences Approximately 35,000 VPD
  • Service Oriented Tenant Mix Catering to Neighborhood Convenience
  • Excellent Ingress/Egress, Frontage, and Visibility
  • Less Than Three Miles From Interstate 70 and Interstate 65

Exclusively Listed By

Shopping Strip

Dollar General Plaza | Historical Occupancy | Signalized Intersection

Listing Price: $2,100,000

Cap Rate
8.00%
Gross SF
15,054
Rentable SF
15,054
Price/Gross SF
$139.50
Lot Size
1.12 acres
Year Built
1989

Investment Highlights

  • Core Indianapolis Midwestern Market Experiencing Economic & Population Growth
  • Dollar General Corporate Occupies Approximately 60% of Gross Leasable Area on a Long-Term Lease Through 2027 - Rental Increase Scheduled in 2023
  • Hair Plus Beauty Supply Has Occupied Space For Over Thirty Years - Recently Extended Their Lease Until 2031
  • Located at a Heavily Traveled, Signalized Intersection - East 38th Street and Emerson Avenue Experiences Approximately 35,000 VPD
  • Service Oriented Tenant Mix Catering to Neighborhood Convenience
  • Excellent Ingress/Egress, Frontage, and Visibility
  • Less Than Three Miles From Interstate 70 and Interstate 65

Investment Overview

Marcus & Millichap is pleased to present for sale Dollar General Plaza, a 15,054-square foot retail strip center anchored by Dollar General & Hair Plus Beauty Supply in Indianapolis, Indiana. The subject is located on a hard corner, 1.12-acre site at the signalized intersection of East 38th Street and Emerson Avenue. The property is currently 100% occupied with four service-based tenants that cater to the immediate neighborhood; Dollar General has a long-term lease in place through November 2027 and they make up approximately 60% of the gross leasable area. The three additional tenants include Swift Tax, Metro PCS Wireless and Hair Plus Beauty Supply. Hair Plus Beauty Supply has been operating at this location for over thirty years and is an original occupant of the building. They recently extended their lease through 2031. Dollar General Plaza represents a great opportunity for any investor looking to purchase a retail strip center located in a dense residential area of Indianapolis whose tenants cater to the immediate area. Positioned in a core Midwestern market experiencing population, economic & job growth, the offering generates an attractive yield on investment with minimal landlord expense exposure as three of the four tenants are responsible for the majority of the center’s annual operating expenses.

Exclusively Listed By

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