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Elwood Plaza 1900 S Anderson St 27,700 SF 59% Leased Retail Building Elwood, IN 46036 $3,771,000 ($136.14/SF) 6.50% Cap Rate
Executive Summary
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’
Property Facts
Amenities
- Pylon Sign
- Drive Thru
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite A is 1650sf and is a corner space. Suites will be built-out to tenant specifications and will be new construction from floors to roof. Rents from $10 - $30 for end cap.
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite B is the end cap with a drive through and is 1000 sf. The space will be built-out to tenant specifications and will be new construction from floors to roof.
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite C is 2600 sf but space size can be modified. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite D is 2100 sf and size can be modified. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite E is 4075 sf and additional space is available. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
| Space | Size | Space Use | Position | Available |
| A | 1,650 SF | Retail | - | Now |
| B | 1,050 SF | Retail | End Cap | Now |
| C | 2,600 SF | Retail | In-Line | Now |
| D | 2,100 SF | Retail | In-Line | Now |
| E | 4,075 SF | Retail | In-Line | Now |
A
| Size |
| 1,650 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
B
| Size |
| 1,050 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
C
| Size |
| 2,600 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
D
| Size |
| 2,100 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
E
| Size |
| 4,075 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
A
| Size | 1,650 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite A is 1650sf and is a corner space. Suites will be built-out to tenant specifications and will be new construction from floors to roof. Rents from $10 - $30 for end cap.
B
| Size | 1,050 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite B is the end cap with a drive through and is 1000 sf. The space will be built-out to tenant specifications and will be new construction from floors to roof.
C
| Size | 2,600 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite C is 2600 sf but space size can be modified. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
D
| Size | 2,100 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite D is 2100 sf and size can be modified. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
E
| Size | 4,075 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Elwood Plaza retail center is conveniently located along Hwy 13 and is being revitalized by new owner/occupier. Center is anchored by large format Dollar General Market, and owner's businesses, House of Payne fitness center and Construction and Tree Service. Available for lease is approximately 12,000 sf with a highly coveted end cap and an existing drive. Suite E is 4075 sf and additional space is available. Suites will be built-out to tenant specifications and will be new construction from floors to roof.
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,188,100 | |
| Land Assessment | $123,300 | Total Assessment | $1,311,400 |
Property Taxes
Presented by
Elwood Plaza | 1900 S Anderson St
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