105 Division StRemington, IN 47977

Property Details for 105 Division St

Year built

2013

Construction

TYPE NOT SPECIFIED

Lot size

0.45 AC

Property size (Sq ft)

8,840 SF

Zone code

BUFF

Property type

Retail space

APN

37-02-30-000-009.054-003

APU

370230000009054003

Description

This exceptional investment opportunity presents a freestanding Dollar General Plus store, number 13100, located at 105 W Division St, Remington, IN 47977. The property boasts 8,840 square feet on a 0.45-acre lot and is situated in a prime location near a popular Interstate 65 exit, conveniently positioned between Indianapolis and Chicago. The single-tenant, 100% occupied property operates under a Net Net Net (NNN) lease with a remaining term of 10 years, commencing January 31, 2012. The lease includes three, five-year options with a 10% rental increase in each. The current annual net operating income (NOI) is $84,744, representing a 6.00% capitalization rate on the asking price of $1,412,400. This Dollar General Plus store is larger than a traditional location, featuring expanded cooler/freezer capacity for increased perishable inventory. The strong demographics within a 5-mile radius, boasting an average household income of $73,026, further enhance the investment's appeal. The corporate-guaranteed lease ensures minimal landlord responsibilities, making this a low-maintenance, high-return investment. The property is a one-story building. Dollar General Corporation holds a "BBB" rating from S&P. This location represents a relocation and expansion of an existing store, demonstrating the company's commitment to the Remington community. The property is approximately a 90-minute drive from Chicago.

• CAP approach

  CAP return

  Valuation

  6%

  $4,176,158

  6.5%

  $3,854,916

  7%

  $3,579,564

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,901,553

  Geo Method

  $2,901,553

• Alternative Use

  Use

  Valuation

  Residential

  $3,251,766

  Hospitality

  $2,978,600

  Educational

  $2,478,160

  Medical

  $2,563,388

  Retail

  $3,854,916

Location Insight

City

Remington

County

Jasper

State

Indiana

Latitude

40.7656

Longitude

-87.1528

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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