Listed by Franklin Street Atlanta, Franklin Street Tampa
$1,558,065
Family Dollar
Details
APN 050 022.17
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 10,500
Cap Rate 7.75%
NOI $120,750
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 03/30/2034
Lease Options 4 Five-Year Options
Broker Co-Op Yes
Year Built 2024
Acreage 1.190
Zoning Commercial
Parking Spaces 37 spaces
Parking Per SqFt 3.52
Lease Commencement 03/22/2024
Ownership Fee Simple
Across from College | Main Highway
Marketing description
Franklin Street is pleased to present this Family Dollar store in Clifton, Tennessee. Clifton is located in Wayne County in Southwestern Tennessee along the banks of the Tennessee River. The property is located on Billy Nance Boulevard, which serves as the major thoroughfare of Clifton and connects to neighboring town Clifton-Junction. Along Billy Nance Boulevard is the Clifton Highway Brudge, the only bridge that serves Clifton across the Tennessee River and the only bridge across the river until neighboring Savannah, 20 miles south. Clifton was originally developed as a river port, and the town still revolves around the river as a localized distribution hub and a tourist attraction. The TS Stribling Museum, dedicated to the famed American writer born and raised in Clifton, and Ross Creek Landing, a Jack Nicklaus signature golf course, serve as pillars for the tourism economy of Clifton. The property is located caddy corner to Columbia State Community College, which had just over 5,000 enrolled in its most recent public figures. Family Dollar Tree continues to roll out the combo store format into rural areas of the country to help fill immediate voids for local residents. The concept has 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 tertiary markets. This new construction Family Dollar has 8.5 year remaining on the initial lease term, with the only landlord responsibilities being to the roof and structure. Other retailers in the immediate vicinity include Dollar General, Wayne County Bank, and Marathon.
Investment highlights
- Newer 2024 Family Dollar Tree with a 8-year lease in place upon commencement
- Proven Market: Tertiary Markets like Clifton are target markets for Family Dollar Tree combo stores, with comp sales that exceed 20%, providing higher gross profit margins
- NNN lease with landlord responsibilities being only roof and structure
- Average Household Income of $74,994 within a 5-mile radius; Ideal for the Combo Store demographics
- Dollar Tree acquired Family Dollar in 2015; allowed for the combo store model to better compete with Dollar General in tertiary markets
- Located just across the street from Columbia State Community College: Just over 5,000 enrolled in most recent public figures, brings consistent traffic to the area
- 4, 5-year options with $.50 PSF increases at each option
Listing Contacts
Listed by Franklin Street Atlanta, Franklin Street Tampa
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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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