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302 N Nappanee St
Elkhart, IN 46514
Dollar General · Retail Property For Sale
Property Facts
About 302 N NAPPANEE ST , ELKHART, IN 46514
Fortis Net Lease is pleased to present this 9,002 SF. Dollar General store located in Elkhart, Indiana. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently open with rent having commenced in August 2017. This Dollar General is highly visible as it is strategically positioned on the corner of Fulton Street and N. Nappanee St. which sees 28,132 cars per day. The five mile population from the site is 104,458 while the three mile average household income is $52,889 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.30% cap rate based on NOI of $97,966.68. Instate Broker of Record: Maurice G. Harbert | Realty World Harbert Company, Inc. | License # C088900146
Property Taxes
| Parcel Number | 20-06-06-301-012.000-012 | Improvements Assessment | $1,160,400 |
| Land Assessment | $87,600 | Total Assessment | $1,248,000 |
Property Taxes
