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Dollar General

425 IN-930, New Haven, IN 46774

Listing Price: $1,218,963

Cap Rate
6.75%
Tenant Name
Dollar General
Years Remaining On Lease
4.3
Gross SF
13,648
Guarantor
Corporate Guarantee
Rentable SF
13,648
Price/Gross SF
$89.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$6.03

Investment Overview

Marcus & Millichap is pleased to present the Dollar General located in New Haven, Indiana. The 13,648 square foot building is perfectly positioned with excellent visibility along State Road 930, with exposure to more then 24,300 vehicles per day. The building sits on about 1.39 acres in between a Goodyear Auto Service and AutoZone, as well as adjacent to Arby’s and PNC Bank. There is a large Kroger anchored shopping center down the street that helps draw strong daytime traffic to this area, in addition to the other nearby retailers like Walgreens, McDonald’s, Burger King, and Papa John’s. Dollar General signed a 10-year original lease which commenced March 26, 2011 and was set to expire on March 31, 2021. In April 2017, four years before the expiration of the original lease term, Dollar General elected to exercise their first renewal option extending the lease expiration to March 31, 2026. Dollar General’s decision to exercise their first renewal option, almost four years early, is a clear indication of their success and commitment to this location. There are currently 4.5 years remaining on the lease, with four, five-year renewal options available. There are 10 percent rent increases in each of the renewal options, providing a landlord with a hedge against future inflation. The lease is classified as triple net, with the tenant responsible for the real estate taxes, the HVAC, the insurance and reimburses a fixed amount for common area maintenance. New Haven is just 5.7 miles outside of downtown Fort Wayne, which is the second largest city in Indiana, with a population exceeding 263,880 people. The property benefits from the dense demographics (106,000+ people within five miles), and its proximity to downtown Fort Wayne, New Haven, and I-469.

Investment Highlights

  • 2011 Remodel to Dollar General Prototype | Original 10-Year Triple Net Lease Commenced in March 2011
  • First Renewal Option was Exercised Four Years Early (in June 2017) Extending the Lease to March 31, 2026
  • Dollar General's Early Renewal is a Clear Indication of their Success & Commitment to this Location
  • 106,735 People within 5-Miles | 24,324 VPD on State Road 930
  • Large Footprint Store Aligns with Dollar General's Efforts to becoming Health Care Destinations Offering Telemedicine, Prescription Delivery/Pick-up & Mail Order Prescription
  • 10% Rent Increases Every 5 Years | Perfect Hedge Against Future Inflation
  • Four, Five-Year Renewal Options Available
  • 5.7 Miles Outside Fort Wayne (2nd Largest City in Indiana with Population Exceeding 263,880 People)

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Dollar General

Listing Price: $1,218,963

Cap Rate
6.75%
Tenant Name
Dollar General
Years Remaining On Lease
4.3
Gross SF
13,648
Guarantor
Corporate Guarantee
Rentable SF
13,648
Price/Gross SF
$89.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$6.03

Investment Highlights

  • 2011 Remodel to Dollar General Prototype | Original 10-Year Triple Net Lease Commenced in March 2011
  • First Renewal Option was Exercised Four Years Early (in June 2017) Extending the Lease to March 31, 2026
  • Dollar General's Early Renewal is a Clear Indication of their Success & Commitment to this Location
  • 106,735 People within 5-Miles | 24,324 VPD on State Road 930
  • Large Footprint Store Aligns with Dollar General's Efforts to becoming Health Care Destinations Offering Telemedicine, Prescription Delivery/Pick-up & Mail Order Prescription
  • 10% Rent Increases Every 5 Years | Perfect Hedge Against Future Inflation
  • Four, Five-Year Renewal Options Available
  • 5.7 Miles Outside Fort Wayne (2nd Largest City in Indiana with Population Exceeding 263,880 People)

Investment Overview

Marcus & Millichap is pleased to present the Dollar General located in New Haven, Indiana. The 13,648 square foot building is perfectly positioned with excellent visibility along State Road 930, with exposure to more then 24,300 vehicles per day. The building sits on about 1.39 acres in between a Goodyear Auto Service and AutoZone, as well as adjacent to Arby’s and PNC Bank. There is a large Kroger anchored shopping center down the street that helps draw strong daytime traffic to this area, in addition to the other nearby retailers like Walgreens, McDonald’s, Burger King, and Papa John’s. Dollar General signed a 10-year original lease which commenced March 26, 2011 and was set to expire on March 31, 2021. In April 2017, four years before the expiration of the original lease term, Dollar General elected to exercise their first renewal option extending the lease expiration to March 31, 2026. Dollar General’s decision to exercise their first renewal option, almost four years early, is a clear indication of their success and commitment to this location. There are currently 4.5 years remaining on the lease, with four, five-year renewal options available. There are 10 percent rent increases in each of the renewal options, providing a landlord with a hedge against future inflation. The lease is classified as triple net, with the tenant responsible for the real estate taxes, the HVAC, the insurance and reimburses a fixed amount for common area maintenance. New Haven is just 5.7 miles outside of downtown Fort Wayne, which is the second largest city in Indiana, with a population exceeding 263,880 people. The property benefits from the dense demographics (106,000+ people within five miles), and its proximity to downtown Fort Wayne, New Haven, and I-469.

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