Absolute NNN Family Dollar
9.50% CAP | Location Sells Alcohol & Tobacco | Only Liquor Store/C-Store In Town
Marketing description
Surmount is pleased to present the exclusive listing for a Family Dollar located at 205 North Chestnut Street, Wenona, Illinois 61377. The site consists of roughly 8320 rentable square feet of building space on an estimated 1.84-acre parcel of land. This Family Dollar is subject to a 14-year Triple Net (NNN) lease, which commenced 3/12/2015. The current annual rent is $87,810 and has scheduled increases of 10.00% Every 5 Years.
Investment highlights
Rare Absolute Triple-Net (NNN) Lease | Zero (0) Landlord Responsibilities | The property is subject to an absolute triple-net lease with zero landlord responsibilities, offering truly passive income to a prospective purchaser.
Ten Percent (10.00%) Rental Increases Every Five (5) Years And In Options | Hedge Against Inflation | The lease of the subject property features ten percent rental escalations every five years and in the tenant's six, five-year option periods.
Original 15-Year Lease | 2015 Build-To-Suit Construction | Approximately Four (4) Years Remaining | Approximately four years remain on the tenant's original fifteen-year lease that began in 2015 at this property specifically built to meet the tenant's needs.
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