Family Dollar - 109 N Washington St., Hale, MI
109 N Washington St., Hale, MI 48739
Marketing description
Constructed for Family Dollar in 2016, this is a 9180 square-foot, freestanding single-tenant retail investment property which features five (5) years of remaining lease term and a completely passive source of rental income. The lease is absolute net in structure which requires that the Tenant be responsible for all expenses, repairs, maintenance, and replacements. It features six (6) remaining five (5) year tenant renewal options with ten percent (10%) lease rate increases at the commencement of each option. The asset is located at the signalized main intersection in the quaint town of Hale, MI. and was relocated by Family Dollar from a previous, lesser market position. The "Wrap-Around" parcel has access to both main streets with exclusive pylon signage on N Washington St.
Investment highlights
- Absolute Net lease structure - Tenant responsible for all expenses, repairs, maintenance, and replacements
- Five (5) years of remaining lease term
- Six (6) remaining five (5) year tenant renewal options
- Ten Percent (10%) rent escalations every five (5) years at the commencement of each option
- Guaranteed by Family Dollar Stores, Inc.
- Located at the signalized main intersection in the quaint town of Hale, MI
- Relocated by Family Dollar from a previous, lesser market position
- Wrap-Around parcel with access to both main streets with exclusive pylon signage on N Washington St.
- Fee Simple ownership
- Net Operating Income: $126,748.08
- Offered at $1,536,000 (8.25% Capitalization Rate)
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