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Views: 156 DOM: 407 Updated: 11.17.24 Posted: 11.10.23 Status: Active

Summary

Price $1,610,000
Built/Renov 2023
Tenant Family Dollar | Dollar Tree
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 16,100
Lease Start 04-06-2023
#Units 1,200
Price/SF $100.00
Expiration 04-30-2033
Tenant Type Dollar/Discount
NOI $112,700
R. Term 8.4
Ownership Fee Simple
Rent/SF $7.00
Increases 0.0%/9/yrs
Pop 5Mi 4,521
Lot/AC 1.64
Options 5/5yrs
AHHI 5Mi $82,241

Lease Highlights

  • Brand-new 2023 construction
  • Family Dollar | Dollar Tree has 8+ years remaining on the current lease term with 5 (5-year) options to extend
  • Lease features $0.50/SF rental increases at the start of each option
  • Corporate guaranteed lease (NASDAQ: DLTR)
  • Investment grade tenant ( S&P: BBB)

Location Description

Dollar Tree and Family Dollar is strategically located off the signalized, hard corner intersection of Northumberland Hwy and Richmond Road, averaging 9,000 combined vehicles daily. The asset has excellent visibility via street frontage and multiple points of access, providing ease and convenience for customers. Additionally, it is located at a bus stop, across from US Post Office, and next to...

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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 : 236 2,173 4,458
2023 Total Population : 240 2,200 4,521
2023 Employed Civilian Pop : 84 801 1,671
2023 Total Businesses : 43 106 149
2023 Average Household Income : $ 56,868 $ 83,649 $ 82,241
2023 Total Consumer Spending : $ 5 M $ 74 M $ 147 M
2023 Median Age : 43 50 50
2023 Total Households : 98 996 2,005
2023 Pop Age 25+: Bachelor's Degree : 8 260 546
2023 Average Home Value : $ 190,625 $ 344,448 $ 328,934
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SR 712 Commerce Rd 2020 140 0.09 mi
SR 758 Commerce Rd 2020 250 0.09 mi
Northumberland Highway Factory Ln 2021 9,000 0.14 mi
SR 758 Factory Ln 2020 150 0.14 mi
Richmond Road Beechwood Dr 2021 6,100 0.19 mi
Richmond Rd Beechwood Dr 2016 6,100 0.19 mi
SR 750 Cedar Ln 2020 140 0.31 mi
Harryhogan Road Ruritan Ln 2020 1,100 0.40 mi
Harryhogan Road Mattaponi Rd 2021 1,300 0.40 mi
Northumberland Hwy Supply Ln 2016 7,100 0.47 mi

Listing Broker

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