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Views: 175 DOM: 99 Updated: 03.08.24 Posted: 02.08.24 Status: Active

Summary

Price $2,070,000
Built/Renov 2017
Tenant Family Dollar
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 8,400
Lease Start 07-01-2016
#Units 8,206
Price/SF $246.43
Expiration 06-30-2031
Tenant Type Dollar/Discount
NOI $139,699
R. Term 7.1
Ownership Fee Simple
Rent/SF $16.63
Increases 6.0%/2/yrs
Pop 5Mi 143,168
Lot/AC 1.14
Options 6/5yrs/6%
AHHI 5Mi $79,654

Lease Highlights

  • Family Dollar has 7+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features CPI rental increases not to exceed 6% throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the hard corner intersection of Boggy Creek Road and Morningside Drive, with a combined daily traffic count of 24,000 vehicles. The property shares adjacency with tenants such as 7-Eleven and Circle K. Furthermore, it is located across from the Landings at Boggy Creek, which boasts 310 units. This strategic location is situated 6 miles from Orlando...

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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 : 2,608 55,941 169,566
2023 Total Population : 2,366 51,945 154,071
2023 Employed Civilian Pop : 1,301 27,667 81,347
2023 Total Businesses : 31 943 2,662
2023 Average Household Income : $ 112,339 $ 98,232 $ 102,648
2023 Total Consumer Spending : $ 71 M $ 1405 M $ 4416 M
2023 Median Age : 39 36 35
2023 Total Households : 739 16,517 49,654
2023 Pop Age 25+: Bachelor's Degree : 306 6,711 20,749
2023 Average Home Value : $ 400,209 $ 357,266 $ 381,887
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Morningside Dr Boggy Creek Rd 2007 2,410 0.09 mi
Boggy Creek Road Will Hughey Rd 2022 21,000 0.10 mi
Boggy Creek Road Will Hughey Rd 2021 21,000 0.10 mi
Boggy Creek Rd Beth Rd 2012 20,700 0.23 mi
Boggy Creek Rd Beth Rd 2009 21,440 0.28 mi
Boggy Creek Rd Morningside Dr 2012 14,101 0.28 mi
Boggy Creek Rd Ward Rd 2012 22,716 0.82 mi
Boggy Creek Road Beth Rd 2019 32,500 0.90 mi
Boggy Creek Road New Hope Rd 2021 30,000 0.90 mi
Boggy Creek Road Beth Rd 2022 29,000 0.90 mi

Listing Broker

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