Dollar General – New Middletown, IN
We are pleased to present this 2023 BTS, 10,640 SF. Dollar General plus store located in New Middletown, Indiana – Part of the Louisville Market. The property offers a Fifteen (15)Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (5 year) options to renew, each with a 10% rental rate increase. 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 planning to commence construction soon with rent & store opening planned for October 2023.
This Dollar General is highly visible as it is strategically positioned on New Middletown-Elizabeth Road which sees 1,589 cars per day. It is the only dollar store serving the community! The ten mile population from the site is 58,589 while the three mile average household income $75,084 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 6.65% cap rate based on NOI of $106,522.08.
• Brand New 15 Year Absolute NNN Lease
• Part of the Louisville Market Area
• Zero Landlord Responsibilities
• 2023 BTS Construction | Concrete Parking Lot
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $75,084
• Ten Mile Population 58,5891,589 Cars Per Day on New Middletown-Elizabeth Road
• Investment Grade Dollar Store | BBB Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• The Only Dollar Store Serving the Community!
Instate Broker of Record: Brian Brockman | Bang Realty