6030 In-16Monticello, IN 47960

For Sale
$1,199,500

High-yield NNN investment; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a 9,363 square foot Dollar General located at 6030 IN-16, Monticello, IN 47960. The property boasts a prime corner lot (2.475 acres) with high visibility along Indiana Highway 16 in a popular Indiana resort area, situated midway between Chicago and Indianapolis. Built in 2018, this absolute NNN leased property offers a remaining lease term of 8.6 years, extending to June 30, 2033, with five additional five-year renewal options, each including a 10% rent increase. The tenant, Dollar General, is credit-rated and backed by a corporate guarantee, ensuring a secure investment. The property's strong financial performance is reflected in its 6.75% cap rate and a Net Operating Income (NOI) of $80,970, with an asking price of $1,199,500 ($128.11 per square foot). The property is currently 100% occupied. Available documentation includes a Phase 1 environmental report and an ALTA survey. This is a single-tenant, absolute NNN lease investment.

Highlights

  • $1,199,500 asking price for a 9,363 SF Dollar General.
  • Absolute NNN lease with a credit-rated corporate guarantee.
  • 8.6 years remaining on the lease, expiring 06/30/2033, with renewal options.
  • 6.75% cap rate and $80,970 annual NOI.
  • Located on a 2.475-acre lot in Monticello, Indiana, on IN-16.
  • 100% occupancy.

Property Details for 6030 In-16

Property type
Other retail properties, Individual retail properties
Square Feet
9,363 SF
Lot Size (sq. ft)
107,811 SF

Location Insight

City
Monticello
County
White
State
Indiana
Latitude
40.883788707222
Longitude
-86.755163864779
6030 In-16, Monticello, Indiana

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6030 In-16
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