Family Dollar | 207 E NC 11
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Family Dollar 207 E NC 11
8,500 SF Retail Building Oak City, NC 27857 £783,299 (£92/SF) 8.14% Net Initial Yield
Investment Highlights
- 10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION)
- WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
- CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
- DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY
Executive Summary
10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION)
The subject property is a freestanding Family Dollar store operating under a 10-year corporate lease extension. It is currently operating at a Family Dollar and the tenant may convert the location to the latest Dollar Tree - Family Dollar combo store concept(2).
CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
The lease is corporately guaranteed by Family Dollar Stores, Inc., which is owned by Dollar Tree Stores, Inc. (NASDAQ: DLTR, S&P “BBB”). Family Dollar Stores, Inc. was acquired by Dollar Tree, Inc. in 2015.
WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
The subject property has limited direct competition in the immediate trade area. It’s a well-established Family Dollar situated at a 4-way signalized corner across from a Speedway fuel station.
DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY
The property has direct street frontage along NC 11 Highway, which provides direct access to regional markets including Greenville, NC. There are strong traffic counts of 5,966 VPD near the subject property.
10% RENT INCREASES EVERY 5-YEARS
The lease offers landlord-friendly rent increases of 10% at each of the 4, 5-year option periods.
The subject property is a freestanding Family Dollar store operating under a 10-year corporate lease extension. It is currently operating at a Family Dollar and the tenant may convert the location to the latest Dollar Tree - Family Dollar combo store concept(2).
CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
The lease is corporately guaranteed by Family Dollar Stores, Inc., which is owned by Dollar Tree Stores, Inc. (NASDAQ: DLTR, S&P “BBB”). Family Dollar Stores, Inc. was acquired by Dollar Tree, Inc. in 2015.
WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
The subject property has limited direct competition in the immediate trade area. It’s a well-established Family Dollar situated at a 4-way signalized corner across from a Speedway fuel station.
DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY
The property has direct street frontage along NC 11 Highway, which provides direct access to regional markets including Greenville, NC. There are strong traffic counts of 5,966 VPD near the subject property.
10% RENT INCREASES EVERY 5-YEARS
The lease offers landlord-friendly rent increases of 10% at each of the 4, 5-year option periods.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,500 SF
Building Class
C
Year Built
2011
Price
£783,299
Price Per SF
£92
Net Initial Yield
8.14%
NOI
£63,761
Tenancy
Single
Number of Floors
1
Building FAR
0.16
Lot Size
1.25 AC
Zoning
R - Commercial
Parking
20 Spaces (2.35 Spaces per 1,000 SF Leased)
Frontage
200 ft on E NC 11
PROPERTY TAXES
| Parcel Number | 1000781 | Improvements Assessment | £450,084 |
| Land Assessment | £74,641 | Total Assessment | £524,725 |
PROPERTY TAXES
Parcel Number
1000781
Land Assessment
£74,641
Improvements Assessment
£450,084
Total Assessment
£524,725
Contacts
-
John Glass -
Jason Hernandez -
Benjamin Yelm -
The Glass Group | Marcus & Millichap
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Family Dollar | 207 E NC 11
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