Dollar General Anchored Two Tenant Center
52303 Emmons Road, South Bend, IN, USA Map
Listing Price $464,573
| Status | Closed |
| Lease Type | N/A |
| Property Type | Retail |
| CAP Rate | 8.49% |
| GLA (Sq. Ft.) | 13,680 |
| NOI | $39,437 |
| Lease Term Remaining | 6 Years (Dollar General) / 3 Years (Sunrise Bookkeeping) |
| Increases | $300/mo. in Option (Dollar General) / 2% in Options (Sunrise Bookkeeping) |
| Options | 1 x 5 Years (Dollar General) / 2 x 3 Years (Sunrise Bookkeeping) |
| State (BOR) | IN |
| Broker of Record | Josh Caruana |
| License # (BOR) | RB14034355 |
| Close Date | Nov 9, 2023 |
Investment Highlights
- Tenant Dollar General (NYSE: DG) Currently
Features a Stable Credit Rating of Baa2 (Stable)
from Moody’s and BBB (Stable) from S&P - Traffic Counts on Darden Road (2,540 VPD), a
Half Mile off of Cleveland Road (22,299 VPD),
and One Mile From Indiana SR 933 (10,905 VPD)
(Source: LandVision, CoStar, 2022) - Thriving Community with an Average Household
Income of Over $86,000 within Three Miles of the
Subject Asset, as of 2022 - Subject is Seven Miles from South Bend
International Airport, Serving Over 364 Thousand
Passengers Annually (flysbn.com) - Parks and Outdoor Recreational Facilities Nearby
Include: Arlington Swim Club, Warren Golf Course,
Notre Dame Stadium, Burk Golf Course, Pinhook
Park, Wheelock Park, and More - Subject is Four Miles from Downtown South Bend
with a Population of 103,353 (2021)
Investment Overview
Subject is a 13,680 Square-Foot Two Tenant Retail/Office Building with Anchor Dollar General on a 1.5-Acre Lot with Ample Parking and Easy Ingress/Egress. Modified Gross Lease with Six Years Remaining for Dollar General, who has Operated at the Location Since 1999 and Includes Rental Increases in Options
