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813 E Marion St 10,500 SF Retail Building Converse, IN 46919 $1,599,706 ($152.35/SF) 8.50% Cap Rate
Investment Highlights
- Brand-new 2024 build-to-suit construction specifically for Family Dollar, delivering modern facilities with minimal near-term capital needs.
- Four (4), 5-year renewal options, each with a $5,250 annual rent increase ($0.50/SF), ensuring predictable cash flow growth.
- Average household income of $86,954 annually within a 10-mile radius, supporting consistent essential retail demand.
- ±8.25 years remaining on an initial 10-year lease, providing strong income visibility and stability.
- Full corporate guarantee from Family Dollar (Dollar Tree, Inc.), offering investment-grade credit quality and payment reliability.
- Converse is located ±11 miles east of Marion and ±20 miles southwest of Kokomo, placing the property in an accessible, growing submarket.
Executive Summary
Broker of Record
Kyle Matthews
License # RB17001213, RC52200195 (IN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # RB17001213, RC52200195 (IN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,500 SF
Building Class
C
Year Built
1925
Price
$1,599,706
Price Per SF
$152.35
Cap Rate
8.50%
NOI
$135,975
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.00 AC
Parking
19 Spaces (1.81 Spaces per 1,000 SF Leased)
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Family Dollar began in 1959 as a discount variety store chain and grew from a neighborhood retail concept into a nationwide business serving everyday shopping needs. The company focuses on affordable family essentials and carries food and beverages, paper products, health and beauty supplies, pet food, home products, apparel and accessories, seasonal goods, and electronics. Family Dollar supports convenient value shopping through national brands, private-label items, and digital savings tools across the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
20/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 52-16-32-100-049.000-011 | Improvements Assessment | $839,200 |
| Land Assessment | $20,500 | Total Assessment | $859,700 |
Property Taxes
Parcel Number
52-16-32-100-049.000-011
Land Assessment
$20,500
Improvements Assessment
$839,200
Total Assessment
$859,700
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813 E Marion St
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