Listed by SRS Real Estate Partners McLean, SRS Real Estate Partners Newport Beach
$1,596,000
Family Dollar - Burgess, VA
Details
APN 27-(1)--217-B
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 10,532
Net Rentable (SqFt) 10,532
Cap Rate 7%
NOI $111,720
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Expiration 06/30/2033
Remaining Term 7.1
Rent Bumps Yes
Lease Options 3 (5-Year)
Price per SqFt $152
Broker Co-Op Yes
Year Built 2023
Acreage 1.570
Zoning Commercial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/22/2023
Ground Lease No
Ownership Fee Simple (Land & Building)
Family Dollar in Virginia | Northern Neck MSA | New Corp Lease | 10,532 SF Store
Marketing description
- 7 years remaining on a 10-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
- The lease is corporate signed by Family Dollar Stores of Virgina, Inc.
- 5% increases at the beginning of the options
- Low rent occupancy cost with rent of $10.60/SF
Investment highlights
- 7 Years Remaining | Corporate Guaranteed | Scheduled Rental Increases | Options To Extend
- NN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Fronting Jesse Dupont Memorial Hwy | Excellent Visibility & Access
- Limited Competition | 2023 Construction
- Virginia’s Northern Neck Commercial Hub | 10 Miles from Kilmarnock, VA | 5 Miles from Reedville
- Local Demographics Within 10-Mile Trade Area | Affluent 3-Mile
Listing Contacts
Listed by SRS Real Estate Partners McLean, SRS Real Estate Partners Newport Beach
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$111,720.00
$9,310.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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