820 Trail Ridge RdAlbion, IN 46701

Property Details for 820 Trail Ridge Rd

Year built

2003

Construction

WOOD

Lot size

1.04 AC

Property size (Sq ft)

8,920 SF

Property type

Retail space

APN

57-13-18-400-012.000-002

APU

571318400012000002

Description

This exceptional investment opportunity presents a fee-simple, Class A, 9,100 square foot Dollar General convenience store located at 820 Trail Ridge Rd, Albion, Indiana, 46701. The property sits on a 1.04-acre lot and is zoned CG (Commercial General). Currently operating under a Net Net (NN) lease with a remaining term of 3.2 years (expiring January 30, 2028), this single-tenant property boasts 100% occupancy. Built in 2004, the building has consistently performed well, evidenced by three consecutive five-year lease renewals by Dollar General. The asking price is $750,000, translating to $82.42 per square foot. The property features ample parking and is situated in a high-traffic area with a favorable demographic profile. Potential exists for lease term extensions beyond the current expiration date. This is a strong investment opportunity due to the established tenant, long lease history, and prime location within Albion, Indiana. The property offers a secure and lucrative return for years to come.

• CAP approach

  CAP return

  Valuation

  6%

  $2,466,193

  6.5%

  $2,276,486

  7%

  $2,113,880

• Comparable approach

  Method

  Valuation

  Relative Method

  $961,472

  Geo Method

  $442,600

• Alternative Use

  Use

  Valuation

  Residential

  $1,920,301

  Hospitality

  $1,758,986

  Educational

  $1,463,455

  Medical

  $1,513,786

  Retail

  $2,276,486

Location Insight

City

Albion

County

Noble

State

Indiana

Latitude

41.4071

Longitude

-85.4215

CBSA code

28340

CBSA name

KENDALLVILLE, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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