1900 S Anderson St - Drug Store FOR SALE


Elwood, IN 46036
$3,773,000 USD
646-370-1883
1900 S Anderson St, Elwood, IN for Sale
$3,773,000 USD
Drug Store - FOR SALE
1/15
null | 6.5% Cap Rate

1900 S Anderson St
Elwood, IN 46036


OVERVIEW

Dollar General Market is a supermarket prototype that is double the size of a typical DG Market, serving regional hub communities as a traditional full-service grocery store and Dollar General store. Subject Dollar General Market is a build-to-suit for DG constructed in 2005. There are only three other supermarket prototype Dollar General Market stores located in Indiana, and the Elwood store ranks as the #1 performing store in the state and top 90% in the country according to Placer.ai. Prior to the commencement of Dollar General’s second renewal option period, DG proposed a 10-year renewal. In addition, DG also installed a brand new HVAC system at its own expense in 2026. These are clear signals that subject store is a high-performing asset to DG and its long-term commitment to this site. Elwood sits in the heart of Madison County, which is part of the Indy-Carmel-Anderson MSA, 20-30 miles northeast of Noblesville and Indy, a major growth engine in tech and logistics sectors. This positioning gives the city exceptional access to major metropolitan markets while maintaining the advantages of a smaller community. Elwood’s greatest asset is its strategic position within Indiana’s industrial corridor, and the city’s major employers are over 84-year-old manufacturers whose products and operations align closely with the region's well-established logistics industry. Investment highlights - 10 Year NN commenced February 1, 2026 | 4, 5-Year Option Periods - Dollar General initiated negotiations to extend its 2nd renewal option to 10 years and installed a new HVAC system in 2026 at its own expense, clearly signalling that subject store is a high-performing asset and supporting DG’s long-term commitment to this site. - No. 1-ranked Dollar General store in the state of Indiana and top 90% in the country according to Placer.ai. - Strip Center adjacent to DG Supermarket is 100% occupied and owned by a local resident. It was gut-renovated into a brand new gym, Power Barn - House of Payne, opened in 2019 and popular with locals. - A $25M development housing project at the golf course, less than one mile South from subject property (three-minute drive), will bring a mix of multi-family, single-family homes, owner-occupied units, and senior living to Elwood and even higher foot traffic to the Dollar General Market. Phase I was so successful that Phase II is already being discussed. - Elwood, Indiana is located in Madison County, which is part of the fastest-growing Indy-Carmel-Anderson MSA. 12 miles north of Noblesville and Indy, a major growth engine in tech and logistics sectors. Elwood's workforce is anchored by 80+ year old legacy manufacturers whose products and operations align closely with the region's well-established logistics industry. Investment Grade Dollar General Corporate Guarantee NYSE: DG; S&P rating ‘BBB’

FOR SALE DETAILS

PRICE

$3,773,000 USD

PRICE/SF

$136 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elwood Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

180

LAND DETAILS

LAND ACRES

3.1 AC

LAND SF

135,036 SF

ZONING

NEC

APN/PARCEL ID

48-04-21-100-025.000-027,48-04-21-100-027.000-027

ASK ABOUT THIS PROPERTY

Kelly HuangKelco InvestmentsMore Info
646-370-1883

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Kelly HuangKelco InvestmentsMore Info
646-370-1883

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