Family Dollar | Dollar Tree

475 Armco Road, Ashland, KY 41101

$2,239,150

Cap Rate 8.00%

Views: 120 DOM: 384 Updated: 08.06.24 Posted: 11.03.23 Status: Active 06.17.24

Summary

Price $2,239,150	Built/Renov 2023	Tenant Family Dollar \| Dollar Tree
Cap Rate 8.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 23,416	Lease Start 05-01-2023	#Units 1,200
Price/SF $95.62	Expiration 04-30-2033	Tenant Type Dollar/Discount
NOI $179,132	R. Term 8.5	Ownership Fee Simple
Rent/SF $7.65	Increases 7.0%/5/yrs	Pop 5Mi 62,067
Lot/AC 2.55	Options 3/5yrs/7%	AHHI 5Mi $64,992

Lease Highlights

Brand new 2023 construction
Family Dollar | Dollar Tree recently signed a brand new 10-year lease with 3 (5-year) options to extend
Lease features $0.50 PSF rental increase every 5 years
Corporate guarantee by Dollar Tree, Inc. (NASDAQ: DLTR)
Investment grade tenant (S&P: BBB)

Location Description

This Family Dollar/Dollar Tree store is positioned along Armco Road, with highly visibility from Winchester Avenue, a major thoroughfare that sees vehicle counts in excess of 21,483 per day. The property also sits within the area’s main retail corridor which is home to Walmart Supercenter, Dick’s Sporting Goods, TJ Maxx, Panera Bread, Chick-Fil-A, Outback Steakhouse, and numerous other...

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Key Features

New construction
New prototype
Dense retail corridor
Near major nationals
Strategically located
Major MSA
Brand new lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar | Dollar Tree Wikipedia Family Dollar Wikipedia Ashland, Kentucky Zip Code 41101 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Family Dollar | Dollar Tree
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:1,200
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,176	32,077	60,134
2023 Total Population :	4,210	32,630	61,179
2023 Employed Civilian Pop :	1,257	12,237	22,906
2023 Total Businesses :	608	1,647	2,590
2023 Average Household Income :	$ 46,080	$ 68,689	$ 71,790
2023 Total Consumer Spending :	$ 77 M	$ 834 M	$ 1580 M
2023 Median Age :	40	44	44
2023 Total Households :	1,881	13,707	24,880
2023 Pop Age 25+: Bachelor's Degree :	341	3,071	5,594
2023 Average Home Value :	$ 128,500	$ 137,612	$ 140,670

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Winchester Ave	7th St	2011	29,500	0.18 mi
Central Avenue	Ashland Mall	2021	9,098	0.31 mi
	Winchester Ave	2022	2,670	0.34 mi
US 23	Greenup Ave	2022	10,844	0.34 mi
10th Street	Greenup Ave	2018	1,488	0.39 mi
10th Street	Greenup Ave	2021	1,257	0.39 mi
Pike St	Higgins St	2001	27,470	0.44 mi
11th St	Greenup Ave	2014	2,886	0.46 mi
	11th St	2022	4,830	0.49 mi
US 60		2021	16,423	0.50 mi

Listing Broker

Gabriel Britti

Marcus & Millichap

Contact

88 Listings
12385 Views
42 Sold

Ronnie Issenberg

Marcus & Millichap

Contact

88 Listings
12385 Views
42 Sold

Gabriel Britti

Gabriel Britti, Senior Managing Director of Investments, co-founded the Issenberg Britti Group in 2009 and is a Senior Director of the National Retail Group and Associate Director of the Net Leased Properties Group of Marcus & Millichap Real Estate Investment Services. Gabriel loves what he does, has a thirst for knowledge and takes great pleasure in sharing that knowledge to advance clients towards their investment goals. Gabriel has a long list of loyal clients including some of the na

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Ronnie Issenberg

Ronnie S. Issenberg, Senior Managing Director Investments and Director National Retail Group, has been working in the Investment Real Estate Community since 1998 managing his personal portfolio of Multi Family properties and since 2005, been a member of the National Retail, Net Leased Properties and Land Divisions of Marcus & Millichap, specializing in brokerage of Single Tenant Retail and Fuel Service Assets. Mr. Issenberg earned a Bachelor of Arts and Sciences degree from the University o

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