Dollar General

Retail-Commercial for Sale
Catylist Listing ID: 30825137
Property Subtypes: Free-Standing Building
Building Size (RSF): 9,100 SF
Gross Building Area: See Agent
Gross Land Area: 1.04 Acres
Sale Price: $750,000
Unit Price: $82.42 PSF
Property Use Type: Investment
Building Name: Dollar General
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/22/2023

Overview / Comments

Fully leased Dollar General for sale in Albion, Indiana.
The property is the original build-to-suit location where they have occupied since 2004.
The initial lease term was nine years from 2/1/2004 through1/31/2013. Since then, Dollar General has extended the lease three consecutive times with five-year extensions at each renewal, displaying a true commitment to this site.
The current lease does not expire until 1/31/2028 giving the buyer a firm five-year lease term.
In addition, Dollar General has two more five-year options to renew with increases to potentially extend the term of the lease to1/31/2038.
The lease is Guaranteed by Dollar General Corporation that operates over 18,000 stores across the United States.

Current Tenants

Tenant Business Name Dollar General
Industry Type Retail Trade
Is Renting? Yes

Additional Details

Nearest MSA: Fort Wayne
County: Noble
Tax ID/APN: 571318400012000002
Zoning: CG
Retail Clientele: General, Family, Business, Traveler
Property Visibility: Excellent
Area Description: The property is located adjacent to North Orange Street, a major north/south thoroughfare in Albion with an average daily traffic count of approximately 4,700 vehicles per day. The store is approximately one mile from the Central Noble Community Schools where there are over 500 students. Albion, Indiana, the gateway to Chain-O-Lakes State Park, is in the Northeastern portion of Indiana and is the county seat in Noble County. At the center of town is the historic landmark, Noble County Courthouse. A small-town feel at the crossroads to many major cities with affordable cost of living, makes Albion an ideal location for Dollar General. The closest Dollar General to this site is located over 8 miles away along US Hwy. 33 and no other dollar stores within the Albion MSA. Noble County has the fourth highest concentration of jobs in manufacturing in the United States.
Tenancy: Single Tenant
Number of Stories: 1
Year Built: 2004
Total Parking Spaces: 40
Zoning Description: Commercial General

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,735 5,973
Median Age: 36.62 38.68
Households: 1,320 2,175

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