Family Dollar | Dollar Tree
Retail | 7.00% CAP | 10,500 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a newer construction freestanding Family Dollar investment property located at 21 Head Drive in Cleveland, Alabama (the “Property”). Family Dollar has 7+ years remaining on their lease with five (5), 5-year renewal options. The lease features attractive 5% rent increases at the start of each renewal option.
The Property enjoys excellent frontage and visibility along AL Route 160, the area’s primary commercial and commuter corridor. Family Dollar is one of the main shopping destinations in Cleveland, along with a Dollar General Market and S&S Foods (Grocery store). Family Dollar is adjacent to the intersection (rotary) of AL Routes 160 and 79 and is 0.7 miles from US Highway 231. Positioned in the center of town, the Property is convenient to residential neighborhoods, Cleveland Elementary, Middle and High Schools, and area businesses. Cleveland is 8 miles northwest of Oneonta, which offers retail and dining amenities, schools and employment opportunities and a hospital. Additionally, Family Dollar is approximately 38 miles from Birmingham.
Investment highlights
NEWER CONSTRUCTION: The newer construction Family Dollar has 7+ years remaining on their lease with five (5), 5-year renewal options.
MINIMAL LANDLORD RESPONSIBILITIES: Family Dollar reimburses 100% of real estate taxes and insurance and takes care of common area maintenance. The Landlord is responsible for the roof, structure, and parking lot replacement.
SCHEDULED RENT INCREASES: The lease calls for attractive 5% rent increases at the start of each of the five (5), 5-year renewal options providing the investor with an attractive hedge against inflation.
CORPORATE LEASE: The Family Dollar lease is guaranteed by Family Dollar Stores, Inc. On March 25, 2025, Dollar Tree, Inc entered into a definitive agreement to sell the Family Dollar business to Brigade and Macellum for a purchase consideration of $1.0 Billion. The sale was finalized on July 7, 2025. Family Dollar operates approximately 8,200 stores across 46 U.S. states
E-COMMERCE RESISTANT RETAILER: Family Dollar is an internet-resistant retailer because it offers low-cost, everyday essentials that customers often need immediately, making quick, in-person purchases more practical than waiting for online delivery, especially in remote, rural areas.
TRAFFIC COUNTS: More than 4,900 vehicles pass the Property each day along AL Route 160. Additionally, more than 9,300 vehicles pass through the adjacent roundabout
DEMOGRAPHICS: Approximately 6,400 people live within 5-miles of the Property with an average household income of $86,532. More than 30,700 people live within 10-miles of the Property with an average household income of $85,553.
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