Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Flat Rock, IN - Dollar General
3115 Old State Road 252 | Flat Rock, IN 47234
$1,448,000
Price6.25%
Cap Rate$90,497
NOI10,640
± SF Offering GLA2.91
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, newly built, corporate guaranteed, Dollar General investment property located in Flat Rock, IN. The tenant recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store with over 18,500 stores in operation. The asset, which was built in 2022, features a state-of-the-art design using the highest-grade materials and includes $125,000 in landscaping improvements.
Location
Dollar General is strategically located along Old State Road with clear visibility and access to an average of 3,400 vehicles passing by daily. Old State Road acts as a thoroughfare providing direct access onto State Highway 9 and Interstate 65. The site is a quick 38-minute drive into Downtown Indianapolis via Interstate 65, giving Flat Rock a small town feel with direct access to a major metropolitan area. The surrounding tenants include The Flat Rock Café, Precision Automotive Repair, Flat Rock AG Supply, Mossy Acres Flower Farm, and others. The asset is also located directly next to Flat Rock’s Fire Department. The surrounding regional tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure. In addition, the subject is the only variety store located within a five-mile radius, creating a large consumer draw for the site with virtually no competition. Dollar General is near numerous single-family communities, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 3,500 residents and 217 daytime employees, and the local residents boast an affluent average household of $119,833.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |