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Views: 125 DOM: 112 Updated: 08.01.24 Posted: 08.01.24 Status: Active

Summary

Price $1,317,000
Built/Renov 2016
Tenant Family Dollar
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 8,320
Lease Start 06-01-2016
#Units 8,359
Price/SF $158.29
Expiration 05-31-2031
Tenant Type Dollar/Discount
NOI $95,500
R. Term 6.6
Ownership Fee Simple
Rent/SF $11.48
Increases 10.0%/5/yrs
Pop 5Mi 24,062
Lot/AC 0.96
Options 6/5yrs/10%
AHHI 5Mi $59,486

Lease Highlights

  • Family Dollar has 6+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located at the signalized, hard corner intersection of South Scales Street and Richardson Drive, with two points of ingress and egress and access to a combined daily traffic count of 14,300 vehicles. The property benefits from limited competition, as only one other dollar store serves the trade area. The immediate area is surrounded by well-known national tenants...

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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 : 4,482 16,349 24,437
2024 Total Population : 4,553 16,488 24,618
2024 Employed Civilian Pop : 1,706 6,406 9,771
2024 Total Businesses : 320 834 979
2024 Average Household Income : $ 59,724 $ 57,318 $ 62,758
2024 Total Consumer Spending : $ 109 M $ 381 M $ 613 M
2024 Median Age : 45 44 45
2024 Total Households : 2,034 7,378 10,844
2024 Pop Age 25+: Bachelor's Degree : 712 1,740 2,319
2024 Average Home Value : $ 202,832 $ 199,007 $ 247,132
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Scales St Hickory St 2004 12,000 0.02 mi
2670 Richardson Dr 2022 10,027 0.09 mi
South Scales Street Guilford St 2022 8,305 0.14 mi
2512 Center St 2022 1,281 0.16 mi
Maiden Ln 2022 3,049 0.23 mi
Spruce St 2022 5,184 0.30 mi
2536 Triplett St 2022 4,305 0.47 mi
W Harrison St 2022 4,162 0.54 mi
South Scales Street Woodrow St 2022 6,386 0.56 mi
Barnes Street Richardson Dr 2022 6,659 0.62 mi

Listing Broker

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