Equity is pleased to present the opportunity to acquire a 16,492 square foot Family Dollar located at 1310 W. Morton Street in Oakland City, Indiana. The property is offered for $800,000, representing an 8.25% capitalization rate and an attractive acquisition basis of $48.51 per square foot.
Family Dollar Stores of Indiana, LLC occupies the property under an NN lease with annual base rent of $65,968, or just $4.00 per square foot, and a corporate guaranty from Family Dollar Stores, Inc. The lease extends through November 30, 2028 and includes four automatic five-year extension periods with scheduled rent increases.
The 1.95 acre property was remodeled in 2021 and features prominent frontage along W. Morton Street, pylon signage, and convenient access. The surrounding trade area benefits from Oakland City University, proximity to Interstate 69 and Toyota Motor Manufacturing Indiana, and projected 9.3% population growth within three miles through 2030.