Dollar General | Cloverdale Dr
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Dollar General Cloverdale Dr
10,566 SF Retail Building Crawfordsville, IN 47933 $2,031,109 ($192/SF) 6.70% Cap Rate
Investment Highlights
- Brand New 15 Year Absolute NNN Lease
- Hard Corner Location
- 5% Rent Bumps Every 5 Years!
- 2024 BTS Construction | Upgraded Architectural Design
- 12,118 Cars Per Day | Surrounded by Residential
- Dollar General Guaranty
Executive Summary
Fortis Net Lease is pleased to present this brand new 10,566 SF. Dollar General store located in Crawfordsville, Indiana. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 Year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is on track to finish construction & open for business in November 2024.
This Dollar General is highly visible as it is strategically positioned on the hard corner of Cloverdale Drive and Highway 136 seeing 12,118 cars per day! The 5 mile population from the site is 23,674 and the 3 mile average household income is $64,663 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.70% cap rate based on the NOI of $136,084.32.
Instate Broker of Record: Brian Brockman | Bang Realty
This Dollar General is highly visible as it is strategically positioned on the hard corner of Cloverdale Drive and Highway 136 seeing 12,118 cars per day! The 5 mile population from the site is 23,674 and the 3 mile average household income is $64,663 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.70% cap rate based on the NOI of $136,084.32.
Instate Broker of Record: Brian Brockman | Bang Realty
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
10,566 SF
Building Class
C
Year Built
2024
Price
$2,031,109
Price Per SF
$192
Cap Rate
6.70%
NOI
$136,084
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.50 AC
Zoning
C-1 - Commercial
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 54-10-04-111-018.000-030 | Improvements Assessment | $0 |
| Land Assessment | $40,500 | Total Assessment | $40,500 |
PROPERTY TAXES
Parcel Number
54-10-04-111-018.000-030
Land Assessment
$40,500
Improvements Assessment
$0
Total Assessment
$40,500
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Dollar General | Cloverdale Dr
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