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32450575
32450576

5055 10th Avenue North, Greenacres, FL 33463

JL
GA 326804
Northmarq - Nashville
Listed by Northmarq - Nashville
$2,398,000
23 days on market
Updated 23 days ago

Family Dollar

Details
Property Type Retail
Sub Type Storefront
Square Footage 9,245
Cap Rate 6.5%
NOI $155,836
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type Absolute NNN
Lease Expiration 03/31/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options Six (6), Five (5) Year Option Periods
Year Built 2016
Acreage 1.640
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/2017
Ground Lease No

Rare Absolute NNN Lease | High Traffic and Dense Location | Rent Increases

Marketing description

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Family Dollar located in Greenacres, Florida (the “property”). The rare absolute NNN lease provides investors with a stable, passive income stream. A rare 10% rent increase occurs in less than a year in April 2027. The property consists of a 9,245-square-foot freestanding building on a large 1.64-acre parcel of land. Florida is also one of the select few states that does not have a state income tax.

The Property is strategically located in a dense trade area, on a signalized corner with traffic counts of over 69,000 cars per day. Part of Palm Beach County, Greenacres benefits from a robust population of over 362,000 residents and an average household income of $106,000 within a 5-mile radius. The adjacent John I. Leonard High School has an enrollment of more than 3,200 students and brings in consistent and steady foot traffic to the store. The demographics are ideal for a Family Dollar store location and have allowed the store to grow a large, loyal customer base.

Investment highlights

  • Rare Absolute NNN Lease
  • Top-Ranked National Tenant
  • High-Density Area with Strong Demographics
  • Attractive Rent Increases in Base Term & Options
  • Busy Intersection with High Traffic Counts
  • Tax-Free State
  • Essential Retailer - Recession Proof
  • Adjacent to Large High School

Listing Contacts

JL
GA 326804
Northmarq - Nashville
Listed by Northmarq - Nashville

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$155,836.00
$12,986.33/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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