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Family Dollar

989 Main Street, West Warwick, RI 02893

$1,785,621

Cap Rate 8.00%

Views: 114 DOM: 234 Updated: 10.18.24 Posted: 05.01.24 Status: Active

Summary

Price $1,785,621
Built/Renov 2017
Tenant Family Dollar
Cap Rate 8.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,400
Lease Start 07-01-2018
#Units 8,359
Price/SF $212.57
Expiration 06-30-2028
Tenant Type Dollar/Discount
NOI $142,849
R. Term 3.6
Ownership Fee Simple
Rent/SF $17.01
Increases 5.0%/4/yrs
Pop 5Mi 126,789
Lot/AC 0.83
Options 7/5yrs/5%
AHHI 5Mi $121,737

Todd Tremblay
Horvath & Tremblay: MA
Contact

Bob Horvath
Horvath & Tremblay: MA
Contact

Lease Highlights

  • Family Dollar has 3+ years remaining on the current else term with 7 (5-year) options to extend
  • The lease features 5% rental increases every 5 years and a 10% increase in Option 7
  • 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 Main Street and Maple Avenue, the area’s primary commercial and commuter corridor, with access to a robust combined daily traffic count of 28,900 vehicles. The property boasts outstanding frontage and visibility and is within 1 mile of municipal offices, the West Warwick Civic Center, and several area...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Strong demographics

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Family Dollar Wikipedia Family Dollar Wikipedia West Warwick, Rhode Island Zip Code 02893 Broker Site Page

Documents

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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
2028 Total Population : 13,563 59,790 125,551
2023 Total Population : 13,444 59,422 125,130
2023 Employed Civilian Pop : 7,440 31,685 65,786
2023 Total Businesses : 304 2,052 5,156
2023 Average Household Income : $ 81,472 $ 96,507 $ 116,532
2023 Total Consumer Spending : $ 422 M $ 2122 M $ 5200 M
2023 Median Age : 40 43 45
2023 Total Households : 5,999 25,649 52,228
2023 Pop Age 25+: Bachelor's Degree : 1,376 8,755 20,143
2023 Average Home Value : $ 295,820 $ 345,025 $ 379,341
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Main Street Highland St 2018 10,809 0.02 mi
East Main Street 2018 11,639 0.08 mi
Pike Street 2018 9,263 0.08 mi
Sunrise Avenue 2018 6,706 0.26 mi
E Main St Elm St 2003 1,000 0.27 mi
Woodside Avenue 2018 6,706 0.30 mi
Clyde Street 2018 6,706 0.35 mi
Providence Street Legion Way 2018 19,541 0.37 mi
Legion Way 2018 11,639 0.54 mi
Archambault Avenue 2018 3,577 0.54 mi

Listing Broker

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