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Views: 93 DOM: 198 Updated: 08.30.24 Posted: 03.02.24 Status: Active

Summary

Price $1,452,680
Built/Renov 2012
Tenant Family Dollar
Cap Rate 8.10%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,180
Lease Start 05-27-2011
#Units 8,359
Price/SF $158.24
Expiration 03-31-2027
Tenant Type Dollar/Discount
NOI $117,667
R. Term 2.6
Ownership Fee Simple
Rent/SF $12.82
Increases 10.0%/3/yrs
Pop 5Mi 217,535
Lot/AC 0.93
Options 6/5yrs/10%
AHHI 5Mi $74,131

Lease Highlights

  • Family Dollar has 3 years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Corporate guarantee (NASDAQ: DLTR)
  • Investment grade tenant (S&P: BBB)

Location Description

Family Dollar is strategically located at a signalized, hard corner intersection on Lamar Avenue, with access to 33,479 vehicles passing by daily. The property is a freestanding out-parcel to a neighborhood shopping center, boasting national tenants such as DaVita Dialysis, Dollar Tree, Citi Trends, and more. Furthermore, it is strategically situated in a dense residential area with close...

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Maps

  • 1 Mile
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  • 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 : 11,745 77,892 216,070
2023 Total Population : 11,664 78,405 217,535
2023 Employed Civilian Pop : 4,275 32,616 93,558
2023 Total Businesses : 213 2,757 9,743
2023 Average Household Income : $ 42,694 $ 60,091 $ 74,131
2023 Total Consumer Spending : $ 183 M $ 1718 M $ 5929 M
2023 Median Age : 40 35 37
2023 Total Households : 4,877 32,522 91,449
2023 Pop Age 25+: Bachelor's Degree : 624 8,499 28,870
2023 Average Home Value : $ 136,935 $ 210,071 $ 265,929
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lamar Ave Southwall St 2003 35,160 0.10 mi
Pendleton St Flora Ave 2008 4,612 0.32 mi
Sharpe Avenue Galveston St 2022 3,598 0.46 mi
Dunn Avenue Labelle St 2022 1,989 0.46 mi
US 78 E Zarola Cir 2021 37,228 0.46 mi
Lamar Avenue Labelle St 2022 31,993 0.46 mi
Kimball Avenue Catherine St 2022 4,281 0.54 mi
Labelle Street Henley Dr 2022 3,231 0.56 mi
Semmes Street Barron Ct 2022 5,774 0.65 mi
Cherokee Boulevard S Prescott St 2022 2,455 0.65 mi

Listing Broker

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