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813 E. Marion St
Converse, IN 46919
Asking Price
$1.60M
Cap Rate
8.5%
Asset Type
Convenience Store Retail
Class
Class B
What's Special
2024 Build | 8-Years Remaining on Lease <ul><li>2024 build-to-suit construction for Family Dollar</li><li>±8 years remaining on an initial 10-year lease</li><li>Four, 5-year renewal options all of which include a $5,250 ($0.50/SF) rent increase</li><li>Corporately guaranteed lease</li><li>Average household income of $88,198 annually within a 10-mile radius</li><li>Converse is located ±11 miles East of Marion and ±20 miles Southwest of Kokomo</li><li>In 2025, Family Dollar was acquired by private equity investors (Brigade Capita
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NOI
$80,000
Cap Rate
5.00%
DSCR
0.84
Underwater
Cash-on-Cash
-3.12%
Monthly Payment
$7,914.472
Annual Cash Flow
$-14,973.669
