91 Central Ave, Johnstown, PA 15902 For Sale

Matthews is pleased to exclusively offer for sale a single-tenant Family Dollar property located at 91 Central Ave in Johnstown, Pennsylvania. This net lease investment features a recent 10-year lease extension with a substantial 22% rent increase, demonstrating Family Dollar's strong commitment to this location and market. The property benefits from a 19-year operating history at this site and is corporately guaranteed by Family Dollar, now backed by Brigade Capital Management, Macellum Capital Management, and Arkhouse Management Co following their July 2025 acquisition.

The investment offers an attractive 8.00% cap rate with approximately 10 years remaining on the current lease term, plus two 5-year renewal options. The lease includes built-in 10% rent increases every 5 years, with the next increase scheduled for 2031 that will boost the cap rate to 8.80% at the current list price. The property features an extremely healthy rent-to-sales ratio of 4.40%, and Family Dollar is responsible for all expenses except roof, structure, and parking lot replacement under the NN lease structure.

The property is strategically positioned in Johnstown, located 65 miles east of Pittsburgh, serving a 3-mile population of 39,248 residents and a 5-mile population of 60,348 residents with an average household income of $83,873 annually. Family Dollar operates over 8,000 locations across 46 states and has demonstrated resilience through economic cycles as a necessity-based retailer, benefiting from increased demand during periods of inflation and consumer trade-down.