Family Dollar

1015 Heiskell Avenue, Knoxville, TN 37921

$1,776,613

Cap Rate 7.50%

Views: 141 DOM: 149 Updated: 09.20.24 Posted: 04.23.24 Status: Sold 09.20.24

Summary

Price $1,776,613	Built/Renov 2024	Tenant Family Dollar
Cap Rate 7.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 8,320	Lease Start 08-28-2014	#Units 8,359
Price/SF $213.54	Expiration 06-30-2029	Tenant Type Dollar/Discount
NOI $133,246	R. Term 4.5	Ownership Fee Simple
Rent/SF $16.02	Increases 6.0%/2/yrs	Pop 5Mi 166,896
Lot/AC 1.00	Options 6/5yrs/6%	AHHI 5Mi $56,994

Robby Pfeiffer

Marcus & Millichap

Contact

Lease Highlights

Family Dollar has 4+ years remaining on the current lease term with 6 (5-year) options to extend
The lease features rental increases every 3 years, based on CPI not to exceed 6%
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located off Interstate 275, with access to a high daily traffic count of 60,735 vehicles. The property is surrounded by well-known national tenants, including Chevrolet, Publix, Food City, Aldi, and more. Additionally, the University of Tennessee, with an enrollment of over 28,000 students, and the University of Tennessee Medical Center are located just 3 miles...

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Key Features

Build to suit
Near major nationals
Freeway close
Top 100 MSA
Income tax free state
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar Wikipedia Family Dollar Wikipedia Knoxville, Tennessee Zip Code 37921 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Family Dollar
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:8,359
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 :	7,172	82,201	172,011
2023 Total Population :	7,046	80,864	168,413
2023 Employed Civilian Pop :	2,818	36,995	79,806
2023 Total Businesses :	245	4,149	7,928
2023 Average Household Income :	$ 41,954	$ 56,832	$ 66,549
2023 Total Consumer Spending :	$ 95 M	$ 1677 M	$ 4196 M
2023 Median Age :	32	32	35
2023 Total Households :	2,562	33,338	71,697
2023 Pop Age 25+: Bachelor's Degree :	720	9,115	21,867
2023 Average Home Value :	$ 203,646	$ 253,394	$ 282,367

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
HEISKELL AVE.	Johnston St	2021	12,707	0.04 mi
	Heiskell Ave	2021	2,745	0.14 mi
	Heiskell Ave	2021	3,669	0.15 mi
	Heiskell Ave	2021	4,682	0.21 mi
	I- 275	2021	4,691	0.21 mi
I- 275	Heiskell Ave	2005	59,570	0.31 mi
Heiskell Avenue	Heiskell Ave	2018	14,897	0.34 mi
HEISKELL AVE.	Heiskell Ave	2021	18,868	0.35 mi
I- 275	Hwy 25W	2005	61,490	0.38 mi
Bruhin Rd	Hiawassee Ave NE	2005	10,901	0.44 mi

Listing Broker

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