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31639356
31639357

602 Division St, Biloxi, MS 35390

MG
PA RS287470
CBRE - Philadelphia Suburban
MS
PA RS297166
CBRE - Philadelphia Suburban
CBRE - Philadelphia Suburban
Listed by CBRE - Philadelphia Suburban
$886,666
61 days on market
Updated 61 days ago

Family Dollar | Biloxi, MS

Details
Property Type Retail
Sub Type Storefront, Discount Store
Square Footage 7,980
Cap Rate 9%
NOI $79,800
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Term 7
Lease Expiration 12/30/2031
Remaining Term 5.6
Lease Options 3
Price per SqFt $111
Year Built 1989
Acreage 0.550
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/31/2024

9% Cap | 30+ Year Operating History | Brand New Roof w/ Warranty

Investment highlights

INVESTMENT GRADE CREDIT

Dollar Tree/Family Dollar is an investment-grade credit tenant rated BBB- by Standard & Poor's.

INTERSTATE LOCATION

The site is located less than a mile from I-110, which sees 57,000 vehicles per day.

LIMITED COMPETITION

This location is the only dollar store east of Kessler Air Force Base and is an in-town walkable location surrounded by numerous neighborhoods.

RECENT CAPITAL IMPROVEMENTS

The Property recently underwent significant capital improvements, including a new silicone roof coating, which comes with a 10-year manufacturer’s warranty

ESTABLISHED TENANT

Family Dollar has occupied this location since 1989, with over 30 years of operating history.

1+ MILE FROM BEAU RIVAGE RESORT & CASINO

Family Dollar is located 1.3 miles from the Beau Rivage Resort & Casino, the South's only MGM Resort and the largest Four Diamond resort in the Southeast.

IDEAL DOLLAR STORE DEMOGRAPHICS

The demographic area has average household incomes ranging from $52,700 in the 1-mile radius and $69,100 in the 3-mile radius.

+2 MILES FROM KEESLER AIR FORCE BASE

The subject property is located approximately 2 miles from Keesler Air Force Base, the single largest employer on the Mississippi Gulf Coast, training more than 28,000 students annually.

Listing Contacts

MG
PA RS287470
CBRE - Philadelphia Suburban
MS
PA RS297166
CBRE - Philadelphia Suburban
CBRE - Philadelphia Suburban
Listed by CBRE - Philadelphia Suburban

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$79,800.00
$6,650.00/mo

Valuation Metrics

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DSCR
9%
Cap Rate
9%
ROI

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