Dollar General

Dollar General

12487 McKinley Hwy
Mishawaka (South Bend MSA), IN

Price: $1,429,000
Cap: 6.50%
NOI: $92,871
Building Size: 9,100 SF
Lot Size: 1.72 AC

Investment Highlights

UPGRADED CONSTRUCTION STORE
• Newer 9,100 SF build-to-suit Dollar General in Mishawaka, Indiana.
• This store has upgraded construction with Nichiha panels on the front elevation and opened in February 2018.

ATTRACTIVE SOUTH BEND MSA

• This Dollar General is located just 3.3 miles from downtown South Bend, the fourth largest city in Indiana and the county seat of St. Joseph County with a population of approximately 266,000.
• South Bend serves as the economic and cultural hub of Northern Indiana and is home to the highly ranked University of Notre Dame with a student population of approximately 12,000.

SUPERIOR LOCATION AND DEMOS
• The subject property is well located off of McKinley Hwy (15,722 +VPD) with excellent street frontage, access, and visibility.
• This property is conveniently positioned near the AM General Headquarters and assembly plant, best known for the civilian Hummer and military Humvee that is assembled in Mishawaka, Indiana.
• The property sits across from Penn High School (3,367 students) and athletic fields. Penn High School is the largest high school in the South Bend metro area and has been recognized as a 4-Star School by the Indiana Department of Education and a perennial power in state athletics with 20 state championships won.
• The 5-mile population is 97,282 and surrounding national retailers include Subway, Citgo and Marathon.

HOME TO INDIANA STATE UNIVERSITY SOUTH BEND
• Mishawaka is home to Indiana State South Bend. There are more than 8,073 actively enrolled students as IUSB, and it is the third largest campus in the Indiana State University System. It was founded in 1865 and offers over 100 undergraduate majors and more than 75 graduate and professional programs. The Princeton Review has named Indiana State as one of the “Best in the Midwest” 13 years running.

LONG TERM CORPORATE ABSOLUTE NNN LEASE
• The subject property has 13 years remaining on a new 15-year corporate guaranteed lease with Dollar General.
• Tenant 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure.
• 10% rent increase in each of the five, 5-year option periods.

INVESTMENT GRADE TENANT

• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company and is BBB investment grade rated.
• Currently over 16,000 locations in 45 states with 975 new locations expected to be opened this year.
• Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.

Don McMinn
OFFERING MEMORANDUM

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