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Views: 232 DOM: 137 Updated: 11.01.24 Posted: 08.06.24 Status: Active

Summary

Price $835,578
Built/Renov 2022
Tenant Family Dollar
Cap Rate 9.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,000
Lease Start 01-27-2002
#Units 8,359
Price/SF $104.45
Expiration 12-31-2026
Tenant Type Dollar/Discount
NOI $75,202
R. Term 2.0
Ownership Fee Simple
Rent/SF $9.40
Increases 10.0%/2/yrs
Pop 5Mi 82,248
Lot/AC 0.77
Options 1/5yrs/10%
AHHI 5Mi $71,195

Lease Highlights

  • Family Dollar has been operating in this location since 2002
  • The tenant has 2+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features a 10% rental increase at the start of the remaining option period
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the signalized, hard-corner intersection of NW Sheridan Road and NW Smith Avenue, with access to a combined daily traffic count of 27,837 vehicles. The property is in proximity to three major thoroughfares for the area, including Interstate 44 (37,500 VPD), Highway 62 (29,000 VPD), and NW Cache Rd (37,600 VPD). Additionally, it is less than one mile...

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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
2029 Total Population : 10,316 51,516 81,983
2024 Total Population : 10,450 51,968 82,248
2024 Employed Civilian Pop : 4,011 18,723 31,423
2024 Total Businesses : 400 2,417 3,221
2024 Average Household Income : $ 54,592 $ 60,821 $ 71,195
2024 Total Consumer Spending : $ 204 M $ 1088 M $ 2003 M
2024 Median Age : 33 32 32
2024 Total Households : 4,182 20,035 31,609
2024 Pop Age 25+: Bachelor's Degree : 722 4,360 7,783
2024 Average Home Value : $ 134,321 $ 151,223 $ 175,502
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NW Sheridan Rd NW Smith Ave 2003 21,200 0.08 mi
NW Sheridan Rd 2021 14,700 0.09 mi
NW Lincoln Ave NW 22nd St 2003 1,531 0.13 mi
NW 22nd St 2021 1,300 0.15 mi
Northwest Sheridan Road 2019 1,700 0.16 mi
Northwest Smith Avenue NW 19th St 2021 1,400 0.30 mi
NW Ozmun Ave 2021 2,300 0.34 mi
NW Ozmun Ave 2021 3,200 0.35 mi
NW 23rd St 2021 870 0.37 mi
NW 21st Pl 2021 1,400 0.39 mi

Listing Broker

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