221 W School St - Freestanding FOR SALE


Leesburg, IN 46538
$1,140,506 USD
812-320-8483
221 W School St, Leesburg, IN for Sale
$1,140,506 USD
Freestanding - FOR SALE
1/5
null | 7.9% Cap Rate

221 W School St
Leesburg, IN 46538


HIGHLIGHTS

  • 4.67 Years Remaining on Absolute NNN Lease - No Landlord Responsibilities | Corporate Guaranty | Tenant Completed Interior Remodel, Showing Commitment
  • Five, 5-Year Options with 10% Rental Increases at Each Option - Great Inflation Hedge
  • Investment-Grade Tenant: Dollar General (NYSE: DG) Has 20,500+ Locations in 48 States | BBB Credit Rating by S&P

OVERVIEW

Built in 2015 | 4.67 Years Remaining on an Absolute NNN Lease – No Landlord Responsibilities | 10% Rental Increases in Each Five 5-Year Option Tenant Recently Completed an Interior Remodel, Showing Commitment to Site Lake Town Dollar General – Property is Within 10 Miles of 12 Lakes and Several Conservation Areas 3 Miles North of Downtown Warsaw – the Orthopedic Capital of the World | Home of Zimmer Biomet Holdings, Inc. (10K Employees in Warsaw and 20K Worldwide with a $17.5B Market Cap) and DePuy Synthes (~10K Employees in Warsaw and 20K Worldwide with $9.2B 2024 Revenues) | DePuy Synthes is Headquartered in Warsaw and is the Orthopedic Company of Johnson & Johnson (2024 Revenues of $88.82B) 3 Miles from IN-15/US-30 Interchange (Combined Traffic Count of 38,601 VPD) and Warsaw Municipal Airport| 47 Miles from Fort Wayne, IN Leesburg is Part of the Fast-Growing Warsaw MSA With a Population of 79,456 Leesburg and the Surrounding Area Has Been Experiencing Great Population Growth | Projected 10-Mile Population Increase from 2010 to 2030 is 8.7% | Current 10-Mile Daytime Population is 67,610 Corporate Guarantee | Dollar General (NYSE: DG) Has Over 20,500 Locations in 48 States | Investment Grade Tenant | BBB Rating by S&P

FOR SALE DETAILS

PRICE

$1,140,506 USD

PRICE/SF

$125 USD /SF

CAP RATE

7.9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General | Warsaw, IN MSA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

Commercial

APN/PARCEL ID

43-07-08-200-936.000-016

ASK ABOUT THIS PROPERTY

Damien YoderMarcus & MillichapMore Info
812-320-8483

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Damien YoderMarcus & MillichapMore Info
812-320-8483

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