Listed by Franklin Street Atlanta
$1,558,065
Family Dollar
Details
Property Type Retail
Sub Type Grocery Store, Storefront
Square Footage 10,500
Cap Rate 7.75%
NOI $120,750
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN+
Lease Expiration 02/27/2034
Broker Co-Op Yes
Year Built 2024
Acreage 1.160
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 02/29/2024
Center Of Town | Central TN | Newer Construction
Marketing description
Franklin Street is pleased to present this Family Dollar store in Lobelville, Tennessee. Lobelville is situated in Perry County in western Tennessee along the Buffalo River, a tributary of the Tennessee River. The property is located on North Main Street, a North-South thoroughfare that goes right through historic downtown Lobelville and connects the town to I-40, less than 10 miles from the property. The town was originally founded as a trading post on the Buffalo River by French Trader Henri de Lobel. Lobelville serves as a crucial transfer point for the Tennessee Gas Pipeline Company, with the operator serving as the oldest continuously operating business in town, dating back to 1943. Family Dollar sits on the main retail corridor of Lobelville and is less than a mile from the town's elementary school. One of the few national tenants in the area, Family Dollar fills several needs for local residents and fits the bill of the tertiary markets that the combo store concept targets. The combo stores have over 1,200 stores open, with hundreds of markets identified for future sites. The combo store format is one that Dollar Tree, the parent company, plans to stay committed to for rural tertiary markets. This new construction Family Dollar Tree Store is on a newly executed NNN lease, with the landlord only responsible for the roof and structure. Other retailers the immediate area include Dollar General, the US Postal Office, Lobelville Liquor and Wine, Bold Wine Coffee Bar, Piggly Wiggly Xpress, and Marathon Gas.
Investment highlights
- Newer 2024 Construction Family Dollar with a 10-Year Initial Term In Place
- Proven Market: Tertiary Markets like Lobelville are Target Markets for the Family Dollar Tree Combo Stores with Comp Sales that Exceed 20%, Providing Higher Gross Profit Margins
- NNN Lease with Minimum Landlord Responsibilities; Only Responsible for Roof and Structure
- Average Household Income of $83,223 within a 5-Mile Radius; Ideal Demographics for the Family Dollar Tree Model
- Dollar Tree Acquired Family Dollar in 2015; Allowed for the Inception of the Dollar Store Model to be able to Better Compete with Dollar Generals in Tertiary Markets
- Four 5-Year Options with $0.50 PSF Increases at Each Option
- Limited Competition: Dollar General and Piggly Wiggly Xpress are the Only Other Discount Store Options in the Immediate Vicinity
Listing Contacts
Listed by Franklin Street Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,750.00
$10,062.50/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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