1310 W Morton St - Freestanding FOR SALE


Oakland City, IN 47660
$800,000 USD
614-306-7852
1310 W Morton St, Oakland City, IN for Sale
$800,000 USD
Freestanding - FOR SALE
1/2
null | 8.25% Cap Rate

1310 W Morton St
Oakland City, IN 47660


HIGHLIGHTS

  • Low in-place rent of $4.00/SF
  • Attractive acquisition basis of $48.51/SF, below replacement cost
  • 16,492 SF building on 1.95 acres; remodeled in 2021
  • Prominent W. Morton Street frontage with pylon signage
  • Projected 9.3% population growth within three miles through 2030
  • Located near Oakland City University, I-69 and Toyota Motor Manufacturing Indiana

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$49 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.95 AC

LAND SF

84,942 SF

ZONING

-

APN/PARCEL ID

26-13-24-100-001.551-007

ASK ABOUT THIS PROPERTY

Jake CarterEquity, LLCMore Info
614-306-7852

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Jake CarterEquity, LLCMore Info
614-306-7852

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.