Catylist ID:
#30825137
| 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. |
Attachments & Media
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 |
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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