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DOM: 97 Updated: 02.19.24 Posted: 10.05.23 Status: Sold 01.10.24

Summary

Price $1,475,000 $1,785,600
Built/Renov 2005
Tenant Family Dollar
Cap Rate 8.47% 7.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,180
Lease Start 01-01-2024
#Units 8,206
Price/SF $160.68 $194.51
Expiration 12-31-2033
Tenant Type Dollar/Discount
NOI $124,992
R. Term 8.7
Ownership Fee Simple
Rent/SF $13.62
Increases 0.0%/0/yrs
Pop 5Mi 6,114
Lot/AC 0.53
Options 0/0yrs
AHHI 5Mi $64,217

Lease Highlights

  • Family Dollar has occupied this location since 1979 with over 40 years of operating history
  • Tenant recently signed a 10-year lease extension for this location that takes effect on January 1, 2024
  • This Family Dollar location has a strong sales history that has consistently grown year-over-year and reached nearly $1.85M in 2022; tenant will pay percentage rent for year-end 2023
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease

Location Description

Family Dollar is situated on West Screven Street (U.S. 84/State Route 38), which sees a daily traffic counts of 14,400 vehicles. Quitman serves as the main thoroughfare passing through the city, and it is where the subject property is located. Additionally, the property is conveniently situated right next to a McDonald's drive-thru and in close proximity to several national and regional...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Family Dollar
  • Guarantor:Corp T and Rated
  • Company:Dollar Tree, 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 : 3,094 5,103 6,064
2023 Total Population : 3,130 5,164 6,143
2023 Employed Civilian Pop : 1,090 1,852 2,195
2023 Total Businesses : 152 224 232
2023 Average Household Income : $ 52,488 $ 58,323 $ 61,457
2023 Total Consumer Spending : $ 58 M $ 102 M $ 129 M
2023 Median Age : 42 42 42
2023 Total Households : 1,257 1,969 2,357
2023 Pop Age 25+: Bachelor's Degree : 217 424 534
2023 Average Home Value : $ 175,182 $ 186,879 $ 186,478
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Screven Street S Quincy St 2021 15,400 0.13 mi
West Screven Street S Quincy St 2018 14,000 0.13 mi
South Laurel Street W Battle St 2021 380 0.17 mi
Thomasville Rd N Perry St 2005 15,620 0.18 mi
W Stephens St 2004 1,181 0.34 mi
Barwick Road W Bartow St 2021 2,980 0.35 mi
N Walker St Thomasville Rd 2005 410 0.36 mi
West Stephens Street N Walker St 2021 590 0.39 mi
West Stephens Street N Walker St 2019 580 0.39 mi
W Battle St S Walker St 2004 343 0.39 mi

Listing Broker

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