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Views: 73 DOM: 137 Updated: 11.02.24 Posted: 08.06.24 Status: Active

Summary

Price $1,171,282
Built/Renov 2006/2024
Tenant Family Dollar
Cap Rate 7.65%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,180
Lease Start 01-01-2007
#Units 8,359
Price/SF $127.59
Expiration 12-31-2033
Tenant Type Dollar/Discount
NOI $89,603
R. Term 9.0
Ownership Fee Simple
Rent/SF $9.76
Increases 10.0%/8/yrs
Pop 5Mi 4,614
Lot/AC 0.69
Options 2/5yrs/10%
AHHI 5Mi $63,922

Lease Highlights

  • Tenant recently extended lease (June 2024) through December 2033
  • The lease features 10% rental escalations at the start of each 2 (5-year) option period
  • Newly resurfaced parking lot to superior condition (Summer 2024)
  • Rare percentage rent clause | Provides sales reports (Contact broker for more details)
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the signalized, hard-corner intersection of E Cherokee Avenue and N Willow Street, with access to a combined daily traffic count of 3,800 vehicles. The property is in proximity to well-known national tenants including Homeland Grocery, Bomgaars Supply, Ascension Healthcare, Sonic Drive-In, and more. Additionally, it is further enhanced by limited...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2029 Total Population : 2,861 4,006 4,573
2024 Total Population : 2,881 4,042 4,614
2024 Employed Civilian Pop : 1,191 1,622 1,871
2024 Total Businesses : 190 210 215
2024 Average Household Income : $ 61,382 $ 61,663 $ 63,922
2024 Total Consumer Spending : $ 66 M $ 95 M $ 112 M
2024 Median Age : 40 41 41
2024 Total Households : 1,187 1,695 1,930
2024 Pop Age 25+: Bachelor's Degree : 217 329 403
2024 Average Home Value : $ 179,631 $ 189,359 $ 202,355
*ESRI data is presented for informational purposes only

Listing Broker

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