Listed by Matthews
$1,249,750
Family Dollar
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 8,320
Cap Rate 8%
NOI $99,980
Occupancy 100%
Tenancy Single
Lease Type NN+
Lease Expiration 03/31/2030
Remaining Term 3.8
Price per SqFt $150
Year Built 2019
Buildings 1
Stories 1
Corporate Guaranteed Family Dollar NN+ Lease in Booming Spartanburg Market
Marketing description
Soft Loan Quote:
- LTV: 70%
- Interest Rate: 6.15%-6.35%
- Term: Coterminous with lease
- Amortization: 25-Years
Investment highlights
- Corporate Guarantee: The lease features a corporate guarantee from Family Dollar Stores, Inc., providing a secure and reliable income stream from a nationally recognized credit tenant.
- Signalized Intersection: The property is ideally positioned at the signalized intersection of Cannons Campground Road and Floyd Road. This hard-corner location ensures controlled, steady traffic flow and maximizes visibility and accessibility for the store.
- Built-In Rent Growth: The lease includes six (6) 5-year extension option. Each of these option periods features a scheduled rent increase, offering an excellent hedge against inflation and built-in yield growth
- Thriving Spartanburg Market: Spartanburg is a rapidly growing economic powerhouse strategically located along the I-85 and I-26 corridors. The county recently attracted $3.5 billion in new capital investments in a single year (2025), creating over 1,000 new jobs. The local economy is driven by massive industrial and logistics operations, including the world's largest BMW manufacturing facility and South Carolina's Inland Port.
- Minimal Landlord Responsibilities: The lease features a favorable NN Lease Structure. The tenant assumes responsibility for a significant portion of operating expenses, including direct payment of utility charges and interior maintenance (including HVAC) making this a highly passive investment. The tenant reimburses the landlord for real estate taxes and property insurance.
- Proximity to Major Healthcare and Residential Growth: The property is strategically positioned across the street from the Spartanburg Medical Center—Mary Black Campus, a major 747-bed healthcare facility. Additionally, the immediate area is benefiting from booming residential development (including projects by Ryan Homes, DR Horton, and Trust Homes) and new public schools, providing a built-in and expanding customer base for the store.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$99,980.00
$8,331.67/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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