Family Dollar
Double Net Investment - Discount Retailer in Well-Located Former Drug Store Box
Marketing description
FAMILY DOLLAR - 1810 Maplewood Ave, Flint, MI 48506 Don't miss out on this prime investment opportunity! Located in Flint, Michigan, this property boasts an 8.25% CAP rate and a corporate-guaranteed lease backed by Family Dollar, a well-known discount retailer.
With a strong credit profile and essential goods offering, Family Dollar ensures stable income and tenant demand. Featuring a double net lease structure, this property minimizes landlord responsibilities while providing a solid NOI of $90,000. The strategically situated 10,170 SF building on 1.24 acres was quickly backfilled by Family Dollar, showcasing strong real estate fundamentals. The below-market rent offers long-term sustainability, and six five-year renewal options provide potential for extended cash flow.
Benefiting from its established location with dense surrounding populations and solid household counts, this property on Maplewood Avenue presents a lucrative opportunity for investors looking for a resilient and income-producing asset.
Investment highlights
Corporate Guaranteed Lease - Backed by Family Dollar, a nationally recognized discount retailer and subsidiary of Dollar Tree, Inc. (NASDAQ: DLTR), operating over 8,000+ locations nationwide
Proven Tenant with Strong Credit Profile - Family Dollar serves a necessity-based customer segment, offering essential goods at affordable price points, making it resilient across economic cycles
Successful Backfill of Former Drugstore - Property was previously occupied by a national drugstore and was quickly backfilled by Family Dollar, demonstrating strong real estate fundamentals and tenant demand
Double Net (NN) Lease Structure - Tenant reimburses taxes, insurance, and CAM, providing stable income with limited landlord exposure
Minimal Landlord Responsibilities - Landlord responsibility limited primarily to structure and roof, with tenant handling day-to-day operations and maintenance
Low Rent Basis - Below-market rent enhances long-term sustainability and reduces risk of tenant default or vacancy
Strong Demographics Supporting Discount Retail - Dense surrounding population with solid household counts and income levels that align well with Family Dollar’s core customer base and business model
Long-Term Upside with Options - Lease features six (6) five-year renewal options, providing potential for extended cash flow and long-term hold strategy
Established Location in Flint, MI - Positioned on Maplewood Avenue with accessibility to surrounding residential neighborhoods, supporting consistent foot traffic
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