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DQ GRILL & CHILL – NORTH VERNON, IN 971 N State St 2,936 SF Retail Building North Vernon, IN 47265 $715,000 ($243.53/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- ABSOLUTE NNN LEASE: Over 11 years remaining on initial 15-year Absolute NNN lease with an attractive 10% rental escalations every 5 years
- SEASONED SALES LOCATION: Successfully open and operating for decades with an attractive 4.12% Rent to Sales Ratio (YE 2024)!
- TRAFFIC COUNTS: Excellent visibility/access on N State St, the market’s prime north/south corridor with traffic counts of 23,298 CPD!
- TENANT | GUARANTORS: MJB Management Group, LLC is a multi-brand food service operator with a portfolio that includes 2 Dairy Queen & 1 Denato’s Pizza
- STRONG INTRINSIC VALUE: Priced below replacement cost with replaceable rents!
- 2025 DEMOGRAPHICS: Total Population (5MI): 16,270| Average Household Income (1MI): $79,714
EXECUTIVE SUMMARY
(Building & Land) Fee Simple
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,936 SF
Building Class
C
Year Built
1995
Price
$715,000
Price Per SF
$243.53
Cap Rate
6.50%
NOI
$46,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.50 AC
Zoning
C
AMENITIES
- Restaurant
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 40-09-33-120-014.001-004 | Improvements Assessment | $112,800 |
| Land Assessment | $84,600 | Total Assessment | $197,400 |
PROPERTY TAXES
Parcel Number
40-09-33-120-014.001-004
Land Assessment
$84,600
Improvements Assessment
$112,800
Total Assessment
$197,400
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DQ GRILL & CHILL – NORTH VERNON, IN | 971 N State St
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