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17622562
17622563

3021 NW 19th St, Fort Lauderdale, FL 33311

TD
FL FL BK3344615
TD Commercial Group
CA
FL FL SL3382569
TD Commercial Group
Listed by TD Commercial Group
$2,300,000
1172 days on market
Updated 5 days ago

Family Dollar – Fort Lauderdale, FL

Details
Property Type Retail
Sub Type Pharmacy/Drug, QSR/Fast Food (+1)
Square Footage 8,257
Cap Rate 6.20%
NOI $142,674
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 05/31/2032
Remaining Term 7
Rent Bumps Yes
Lease Options 6 x 5 year renewal
Price per SqFt $279
Broker Co-Op Yes
Class A
Year Built 2016
Lot Size (SqFt) 37,897
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 06/01/2016
Occupancy Date 06/01/2016
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange

Family Dollar | Fort Lauderdale, FL | For Sale or Lease | Abs NNN | 7 Yrs Remaining | 200k in 3-Mi

Marketing description

TD Commercial Group is pleased to exclusively offer the sale or lease of this freestanding 8,257 SF retail building situated on approximately 0.87 acres in dense infill Fort Lauderdale, Florida. The property is currently leased to Family Dollar under an original 15-year Absolute Triple Net (NNN) lease with approximately 7 years of primary term remaining, plus option periods. The lease is corporate-guaranteed by Family Dollar Stores, Inc., a subsidiary of investment-grade Dollar Tree, Inc. (NASDAQ: DLTR).

A UNIQUE DUAL OPPORTUNITY — FOR SALE OR FOR LEASE

While Family Dollar continues to honor its corporate-guaranteed rent obligation in full, the store is no longer operating at this location. This creates a rare opportunity for investors and operators alike:

• Net-Lease Investors acquire immediate, passive, corporate-guaranteed cash flow with zero landlord responsibilities through the remainder of the primary term.

• Value-Add & Opportunistic Buyers collect rent today while marketing the space to a replacement tenant or pursuing redevelopment of the 0.87-acre infill parcel.

• Owner-Users & Tenants may engage directly regarding sublease, assignment, or future occupancy of this high-visibility South Florida retail box.

PREMIER SOUTH FLORIDA LOCATION

The property is centrally located in Fort Lauderdale — "The Yachting Capital of the World" — along a busy east-west thoroughfare in close proximity to the Atlantic Ocean. Surrounded by dense residential rooftops and a strong regional shopping atmosphere, the site benefits from over 200,000 people within a 3-mile radius and easy access to I-95 and Florida's Turnpike. Florida's no-state-income-tax environment continues to drive population, business, and investment migration to the region.

BUILDING & SITE

Built in 2016 exclusively for Family Dollar, the 8,257 SF freestanding building sits on a ~0.87-acre (37,897 SF) parcel with strong visibility and access. Ideal backfill uses include discount retail, grocery, medical/urgent care, fitness, automotive, daycare, dollar-store competitors, or quick-service restaurant concepts, subject to existing lease terms and zoning.

Please contact the listing team for the Offering Memorandum, lease abstract, financials, and a confidential discussion regarding sale pricing and lease terms.

Investment highlights

  • Available For Sale or For Lease — Maximum Buyer/User Flexibility
  • Corporate-Guaranteed Family Dollar Lease — Rent Paid Through Lease Expiration
  • 7 Years Remaining on Original 15-Year Absolute NNN Lease
  • Tenant Has Vacated — Backfill, Owner-User & Redevelopment Upside
  • Investment-Grade Parent: Dollar Tree, Inc. (NASDAQ: DLTR)
  • 8,257 SF Freestanding Building Built 2016 on 0.87 Acres
  • Dense Infill Fort Lauderdale Location — 200,000+ People in 3 Miles
  • South Florida / Miami MSA — No State Income Tax
  • Zero Landlord Responsibilities — Truly Passive Income

Listing Contacts

TD
FL FL BK3344615
TD Commercial Group
CA
FL FL SL3382569
TD Commercial Group
Listed by TD Commercial Group

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$142,674.00
$11,889.50/mo

Valuation Metrics

0
DSCR
6.2%
Cap Rate
6.2%
ROI

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Additional Information

Name
Ted Dowding
License
FL BK3344615
Brokerage
TD Commercial Group
Brokerage Phone
8589997431
Title
Real Estate Broker
Brokerage Address
200 South Andrews Avenue
Name
Carlos Alonso
License
FL SL3382569
Title
Florida
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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