Listed by Encore Real Estate Investment Services
$1,025,000
Family Dollar
Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 10,170
Cap Rate 8.78%
NOI $90,000
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Term 10.2
Lease Expiration 09/30/2029
Remaining Term 3.2
Rent Bumps Yes
Lease Options (6) Five Year Options
Price per SqFt $101
Year Built 1997
Buildings 1
Stories 1
Acreage 1.240
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/01/2019
Double Net Investment - Discount Retailer in Well-Located Former Drug Store Box
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
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,000.00
$7,500.00/mo
Valuation Metrics
0
DSCR
8.78%
Cap Rate
8.78%
ROI
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