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Family Dollar

3757 East New York Street, Indianapolis, IN 46201

$440,082

Cap Rate 8.50%

Views: 48 DOM: 155 Updated: 07.26.24 Posted: 06.19.24 Status: Active

Summary

Price $440,082
Built/Renov 1950
Tenant Family Dollar
Cap Rate 8.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,580
Lease Start 10-01-2018
#Units 8,359
Price/SF $41.60
Expiration 09-30-2028
Tenant Type Dollar/Discount
NOI $37,407
R. Term 3.10
Ownership Fee Simple
Rent/SF $3.54
Increases 0.0%/0/yrs
Pop 5Mi 256,081
Lot/AC 0.72
Options 6/5yrs/7.89%
AHHI 5Mi $71,743

Isaiah Harf
Northmarq
Contact

BJ Feller
Northmarq
Contact

Lease Highlights

  • Family Dollar has 4+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features fluctuating increases at the start of options 1 and 2, 10% at the start of each remaining option period
  • Favorable NN+ lease with landlord responsible for all exterior and structural portions of the building
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the signalized hard corner intersection of E New York Street and N Sherman Drive, two primary thoroughfares, with access to a combined daily traffic count of 19,000 vehicles. The property is situated in a dense retail corridor surrounded by well-known national tenants including Shell, Kroger, Ross, McDonald’s, Dunkin’, O’Reilly, AutoZone, CVS, and...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Dense 200M+ pop 5 mi

  • Top 100 MSA

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Family Dollar Wikipedia Family Dollar Wikipedia Indianapolis, Indiana Zip Code 46201 Broker Site Page

Documents

Download OM

Maps

  • 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 stores...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 19,691 116,619 260,939
2024 Total Population : 19,602 114,922 256,168
2024 Employed Civilian Pop : 9,083 58,126 125,719
2024 Total Businesses : 444 5,160 12,623
2024 Average Household Income : $ 54,826 $ 80,204 $ 75,082
2024 Total Consumer Spending : $ 388 M $ 3670 M $ 7345 M
2024 Median Age : 35 35 34
2024 Total Households : 7,910 51,533 109,859
2024 Pop Age 25+: Bachelor's Degree : 1,740 17,657 34,656
2024 Average Home Value : $ 161,975 $ 244,244 $ 235,506
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Sherman Dr E Market St 2009 11,587 0.09 mi
N Sherman Dr E Vermont St 2009 11,392 0.10 mi
E New York St N Gale St 2015 6,160 0.15 mi
E New York St N Chester Ave 2009 6,290 0.20 mi
E Washington St N Ewing St 2016 17,953 0.23 mi
E Michigan St N Chester Ave 2009 5,921 0.29 mi
North Lasalle Street E New York St 2021 2,550 0.36 mi
E Washington St S Dearborn St 2013 18,122 0.44 mi
N Sherman Dr E 9th St 2009 10,850 0.45 mi
S Sherman Dr Avon Ave 2009 9,638 0.49 mi

Listing Broker

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