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Updated: 12.21.23 Posted: 09.06.23 Status: Sold

Summary

Price $1,608,000
Built/Renov 2022
Tenant Family Dollar | Dollar Tree
Cap Rate 7.15%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,500
Lease Start 07-22-2022
#Units 8,206
Price/SF $153.14
Expiration 07-31-2032
Tenant Type Dollar/Discount
NOI $114,975
R. Term 7.2
Ownership Fee Simple
Rent/SF $10.95
Increases 0.0%/8/yrs
Pop 5Mi 4,406
Lot/AC 1.03
Options 5/5yrs
AHHI 5Mi $61,740

Lease Highlights

  • New 2022 construction
  • Family Dollar | Dollar Tree currently has over 8 years remaining on the current lease term with 5 (5-year) options to extend
  • Lease features $0.50 PSF/Year rental increase at the beginning of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Family Dollar Stores, Inc. (NASDAQ: DLTR)

Location Description

This newly constructed Family Dollar | Dollar Tree is strategically located at the hard corner intersection of US Highway 1 and Easton Street with access to 3,600 vehicles per day. The site benefits from its location along the main thoroughfare in and out of town and its close proximity to the downtown area. Neighboring national/credit tenants include Dollar General and Phillips 66 gas and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Family Dollar | Dollar Tree
  • Guarantor:Corp T and Rated
  • Company:Family Dollar Stores, Inc.
  • # Units:8,206
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock:NASDAQ: DLTR

About Tenant

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount stores...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 824 1,233 1,595
2023 Total Population : 838 1,242 1,601
2023 Employed Civilian Pop : 310 476 611
2023 Total Businesses : 40 61 64
2023 Average Household Income : $ 58,479 $ 61,745 $ 63,655
2023 Total Consumer Spending : $ 17 M $ 26 M $ 35 M
2023 Median Age : 43 44 45
2023 Total Households : 321 482 618
2023 Pop Age 25+: Bachelor's Degree : 57 94 127
2023 Average Home Value : $ 114,192 $ 132,341 $ 147,379
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Memphis Street A St 2019 890 0.46 mi
Captain Otho Butler Memorial Highway Co Rd 3700 2019 3,600 0.76 mi
Captain Otho Butler Memorial Highway Ns371 Rd 2019 2,900 0.83 mi
State Hwy 1 Francis Rd 2003 4,300 1.20 mi
Gerty Road 2019 420 1.35 mi
State Hwy 48 Long Dr 2003 950 1.62 mi
Francis Road 2019 500 1.71 mi

Listing Broker

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