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2931 Portage Avenue - Dollar General, South Bend, IN

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2931 Portage Avenue - Dollar General

South Bend, IN 46628 - Greater South Bend Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2009
Building Size:9,014 SF Land Area:1.59 AC (69,260 SF)
For Sale Price:$960,000 Price/SF:$106.50
Cap Rate:7.00 %
Parking:Free Surface spaces are available; Ratio of 4.99/1,000 SF

Sale Notes:
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire the NN Leased Dollar General ( The Property ) located in South Bend, Indiana. The Property, built in 2009 is 9,014 square feet and is situated on 1.59 acres of land.

The property is subject to a corporate backed 15-year NN Lease, with roughly 8 years remaining. The property features attractive rental renewal options for three(3) successive periods of five(5) years each.

The Property is located within a dense regional retail trade corridor centered between South Bend International Airport to the west and the University of Notre Dame to the east. The Property is within close proximity to many national tenants including Walmart Supercenter, Supermarket, Walgreens, and ALDI.
Due to the close proximity to the University, the Dollar General is in a high traffic residential area with numerous apartment buildings and housing. The Indian Springs Apartments & Townhomes, a 568 unit apartment complex, is located immediately north of the subject property, while Maple Lane Apartments and Executive Suites, housing 498 units, is directly to the west. The University of Notre Dame residence halls house approximately 6,400 students, and the four family housing villages on campus house more than 600 married and graduate students. This Dollar General serves as a primary retailer for grocery and everyday items for the local residents.

Marcus & Millichap Inc
Brett Chetek
(314) 889-2500

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