Family Dollar

401 Lake Avenue, Elyria, OH 44035

$1,863,125

Cap Rate 8.00%

Views: 184 DOM: 387 Updated: 10.30.24 Posted: 10.31.23 Status: Active

Summary

Price $1,863,125	Built/Renov 2011	Tenant Family Dollar
Cap Rate 8.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 8,320	Lease Start 07-01-2012	#Units 8,359
Price/SF $223.93	Expiration 06-30-2027	Tenant Type Dollar/Discount
NOI $149,050	R. Term 2.7	Ownership Fee Simple
Rent/SF $17.91	Increases 10.0%/4/yrs	Pop 5Mi 100,128
Lot/AC 0.60	Options 4/5yrs/10%	AHHI 5Mi $64,690

Robert Bender

Fortis Net Lease

Contact

Lease Highlights

Family Dollar has 2+ years remaining on its current lease term with 4 (5-year) options to extend
The lease features 10% rental increases at the start of each option period
Landlord responsible for roof, structure & parking lot
Corporate guaranteed (NASDAQ: DLTR)
Investment grade tenant (S&P: BBB)

Location Description

Family Dollar is strategically positioned, with high visibility, at the signalized, hard corner intersection of Lake Avenue and Gateway Blvd N. which see a combined 18,050+ vehicles passing by daily. It is within close proximity to many national tenants, including Target, The Home Depot, Red Lobster, Applebee’s, and more, creating a strong consumer drive to the trade area. The 5-mile radius is...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Strategically located
Dense 100M+ pop 5 mi
Top 100 MSA
Recently extended lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar Wikipedia Family Dollar Wikipedia Elyria, Ohio Zip Code 44035 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 :	9,275	53,833	104,449
2023 Total Population :	9,081	53,167	103,121
2023 Employed Civilian Pop :	3,875	24,550	47,574
2023 Total Businesses :	410	1,744	3,046
2023 Average Household Income :	$ 51,754	$ 64,371	$ 74,476
2023 Total Consumer Spending :	$ 177 M	$ 1314 M	$ 2820 M
2023 Median Age :	38	41	41
2023 Total Households :	3,911	23,379	43,520
2023 Pop Age 25+: Bachelor's Degree :	474	3,918	9,832
2023 Average Home Value :	$ 177,632	$ 158,485	$ 186,917

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lake Ave	Rush St	2001	12,550	0.11 mi
Lorain Blvd	Bath St	2001	14,000	0.12 mi
Lake Ave	W River Rd N	2001	15,600	0.15 mi
W River Rd N	Lake Ave	2014	3,934	0.17 mi
Fremont Street	Lorain Blvd	2021	2,483	0.20 mi
Foster Ave	Madison St	2001	1,650	0.22 mi
Lowell St	Railroad St	2001	4,100	0.22 mi
Franklin Ave	Foster Ave	2001	2,500	0.23 mi
Lake Ave	Neufer Ct	2001	14,150	0.25 mi
West River Road North	Erie St	2021	3,434	0.27 mi

Listing Broker

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