Listed by Matthews
$1,188,436
Family Dollar
Details
Property Type Retail
Sub Type Storefront
Square Footage 9,082
Net Rentable (SqFt) 9,082
Cap Rate 8.50%
NOI $101,017
Tenancy Single
Brand/Tenant Family Dollar
Lease Type Absolute NNN
Lease Expiration 03/31/2031
Remaining Term 5
Rent Bumps Yes
Lease Options Six, 5-Year Options Remaining
Year Built 2015
Buildings 1
Stories 1
Acreage 1.170
Investment Type Net Lease
Lease Commencement 07/14/2014
Ground Lease No
Ownership Fee Simple
Corporate Tenant | Absolute NNN | Passive Value-Add Investment
Investment highlights
- Corporate Tenant - The lease is signed by Family Dollar Stores of Michigan, Inc. Family Dollar operates over 7,100 locations across the country with a reported revenue of ~$13B in the last Fiscal Year.
- Absolute NNN – This is a rare absolute NNN lease for Family Dollar with zero landlord responsibilities, offering 100% passive income to a prospective purchaser.
- Passive Value-Add Investment — This asset represents an ideal play for an investor seeking high-yield, low-risk corporate income in the short term, paired with the long-term upside of inheriting a well-maintained, freestanding commercial building.
- Attractive Increase Schedule - 10% rental increases in each of the Six, 5-year options, which is beneficial to an owner as it increases their annual cash flow and helps hedge against inflation.
- Essential Retail - Family Dollar stores often serve as community "essential retail anchors" in secondary and tertiary markets where discount retail is mission-critical for local consumers.
- These locations can be less susceptible to e-commerce disruption relative to non-essentials retail.
- Recession Resistant Tenant - Discount retail historically performs well during economic uncertainty, benefitting from resilient demand as consumers seek value and affordable essentials.
- Dollar store tenants often see consistent traffic due to price-sensitive consumer demographics.
- Excellent Regional Transit Logistics: The site is positioned less than two miles from regional interstate highway access. Additionally, the local Muskegon Area Transit System (MATS) feeds fixed-route bus lines directly through the immediate Broadway hub, facilitating continuous consumer and employee mobility straight to the property.
- Massive Municipal Infrastructure Inflow: The property stands to benefit heavily from the $1.78 million Broadway Avenue Road Reconstruction project. This major multi-phase municipal initiative provides extensive road resurfacing, full sidewalk/curb replacement, new underground storm water systems, and complete main utility upgrades directly outside the storefront.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$101,017.08
$8,418.09/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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