Listed by Exclusive Realty
$723,172
Family Dollar - Development Opportunity
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 10,920
Cap Rate 8.70%
NOI $62,916
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Term 25.8
Lease Expiration 12/30/2026
Remaining Term 0.4
Lease Options 5 (5) Year Options
Pro-Forma Cap Rate 9.90%
Pro-Forma NOI $71,614
Price per SqFt $66
Year Built 2001
Buildings 1
Parking Spaces 40 spaces
Parking per 1,000 SqFt 3.66
Investment Type Core
Tenant Credit Corporate Guarantee
Lease Commencement 03/07/2001
Retail | 8.70% CAP | 10,920 SqFt
Marketing description
Exclusive Realty is pleased to present this exceptional investment opportunity in Lake Station, IN: a meticulously-maintained Family Dollar store with a NN lease. With a strong performance history and consistent returns, this property offers a compelling investment. Additionally, the .79 acres of vacant land provides value-add potential. Strategically positioned and ideal for a 1031 exchange, seize this opportunity to enhance your portfolio.
Investment highlights
- The property boasts new HVAC units installed in 2020, ensuring efficient climate control, and a newly paved parking lot in 2022, providing a fresh and appealing look to the site.
- With .79 acres of vacant land available, valued at $50,000 based on sales comps, there is an excellent opportunity for expansion, redevelopment, or income generating projects.
- Family Dollar, a renowned tenant, has demonstrated its commitment to the site through extensive H2 renovations in 2022, reflecting their belief in the location's success. The store is a strong performer, consistently meeting or exceeding sales expectations. The renovations brought the store up to date for Family Dollar desired present store format and costs tens of thousands of dollars. The landlord absorbed some of the costs taking a rent reduction with the rent increasing 18 percent in 2026. Forward looking rent shall still be far below any new store rents.
- The property enjoys a strategic location with high visibility and convenient access, attracting a steady flow of customers. The engaged community and customer base contribute to the property's success, fostering a loyal customer following.
Listing Contacts
Listed by Exclusive Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$62,916.00
$5,243.00/mo
Valuation Metrics
0
DSCR
8.7%
Cap Rate
8.7%
ROI
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