1105 38Th StMarion, IN 46953

Property Details for 1105 38Th St

Year built

2018

Construction

TYPE NOT SPECIFIED

Lot size

0.89 AC

Property size (Sq ft)

9,100 SF

Property type

Outlet malls

APN

27-07-17-304-035.001-001

APU

270717304035001001

Description

This exceptional investment opportunity presents a 9,100 square foot Dollar General convenience store in Marion, Indiana, on a 0.9-acre lot. Built in 2018, the property boasts a 15-year absolute NNN lease with a corporate guarantee from Dollar General (NYSE: DG), expiring September 30, 2033, and including five, five-year renewal options with rent bumps. The current lease provides a strong NOI of $89,852, yielding a 7.00% cap rate on the $1,283,600 asking price. The property benefits from a prime location near Indiana Wesleyan University (approximately 3,000 students) and the VA Northern Indiana Health Care System, a large healthcare campus. The property's strategic positioning also places it near various national retailers, enhancing its visibility and accessibility. The tenant is responsible for all property expenses, including taxes, insurance, and common area maintenance. This presents a low-maintenance, high-return investment with a financially sound, investment-grade corporate tenant and significant remaining lease term. The property's strong location and long-term lease make it an attractive opportunity for investors seeking stable, passive income.

• CAP approach

  CAP return

  Valuation

  6%

  $2,099,747

  6.5%

  $1,938,228

  7%

  $1,799,783

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,999,463

  Geo Method

  $2,847,925

• Alternative Use

  Use

  Valuation

  Residential

  $1,634,968

  Hospitality

  $1,497,622

  Educational

  $1,246,004

  Medical

  $1,288,856

  Retail

  $1,938,228

Location Insight

City

Marion

County

Grant

State

Indiana

Latitude

40.5238

Longitude

-85.6452

CBSA code

31980

CBSA name

MARION, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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