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2828 Central Avenue - Dollar General, Lake Station, IN

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2828 Central Avenue - Dollar General

Lake Station, IN 46405-2204 - Indiana Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2010
Building Size:9,014 SF Land Area:1.27 AC (55,321 SF)
For Sale Price:$1,169,729 Price/SF:$129.77
Cap Rate:7.00 %
Parking:Free Surface spaces are available; Ratio of 2.47/1,000 SF
Features:Pylon Sign, Signage

Sale Notes:
9 Years of Base Lease Term Remaining
Dollar General’s base lease term expires March 31, 2025, followed by four, five-year renewal options
Rental Escalations
3% rental increase beginning in year 11, as well as 10% rental escalations at the beginning of each option
Corporate Guarantee
Guaranteed by Dollar General Corporation (S&P: BBB/Stable), with revenues of $20.37 billion, net income of $1.17 billion, and a net worth of $5.38 billion
NNN Lease w/Limited LL Responsibility
Landlord responsibilities limited to capital expenses to roof, structure and parking lot (fixed reimbursement)
Chicago MSA Acquisition Opportunity
Property is approximately 30 miles from Chicago-Proper and dense Chicago Neighborhoods
Excellent Access & Transportation
Near multiple modes of transportation, including I-90, I-65, and I-80/94 (144k+ combined VPD)
Ideal Dollar-Store Demographics
49k population and $52k+ HH income within a 3-mile radius

Stan Johnson Company
Brandon Duff
(312) 240-0162

Bradley Feller
(312) 240-0194

Isaiah Harf
(312) 777-2437

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