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Views: 28 DOM: 70 Updated: 05.05.24 Posted: 03.07.24 Status: Active

Summary

Price $1,836,200
Built/Renov 2015
Tenant Family Dollar
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 8,320
Lease Start 10-08-2015
#Units 8,206
Price/SF $220.70
Expiration 09-30-2030
Tenant Type Dollar/Discount
NOI $128,534
R. Term 6.4
Ownership Fee Simple
Rent/SF $15.45
Increases 10.0%/1/yrs
Pop 5Mi 204,598
Lot/AC 1.37
Options 6/5yrs/10%
AHHI 5Mi $75,824

Lease Highlights

  • Family Dollar has 6+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • 10% rental escalation in 2025 brings cap rate to 7.70%
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the signalized, hard corner intersection of 15th Street and 32nd Ave E, with access to a daily traffic count of 11,800 vehicles. Additionally, the property is conveniently situated just off US Highway 301, which boasts a traffic count of 35,500 VPD and leads directly north to Tampa. The site is located in a dense corridor, and tenants in the area...

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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 : 11,330 96,871 202,250
2023 Total Population : 11,240 97,698 204,598
2023 Employed Civilian Pop : 4,358 40,105 87,706
2023 Total Businesses : 229 4,065 8,830
2023 Average Household Income : $ 55,270 $ 63,349 $ 75,824
2023 Total Consumer Spending : $ 178 M $ 2161 M $ 5682 M
2023 Median Age : 31 40 45
2023 Total Households : 3,675 38,896 85,999
2023 Pop Age 25+: Bachelor's Degree : 410 8,282 23,590
2023 Average Home Value : $ 165,313 $ 219,074 $ 296,029
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
15th Street East 34th Ave E 2022 11,800 0.17 mi
United States Highway 301 30th Ave E 2005 25,500 0.25 mi
15th St E United States Hwy 301 2001 8,100 0.35 mi
United States Highway 301 15th St E 2005 27,000 0.37 mi
26th Ave E 15th St E 2019 3,600 0.41 mi
20th St E 2022 31,500 0.46 mi
30th Avenue East 21st St E 2022 6,600 0.51 mi
15th St E 44th Ave E 2005 11,600 0.55 mi
38th Avenue East 20th St E 2022 950 0.57 mi
9th Street East 23rd Ave E 2022 8,400 0.67 mi

Listing Broker

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