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Family Dollar | Interstate Location 640 Humboldt Ave

8,028 SF Retail Building Wells, NV 89835 £858,432 (£107/SF) 9% Net Initial Yield

Investment Highlights

  • The subject property has a lower rent which equates to a lower price point of $1,088,000.
  • This Family Dollar is located directly off Interstate 80 in Wells, NV. Wells is located in the northeast corner of the state.

Executive Summary

LOWER RENT & PRICE POINT
• The subject property has a lower rent which equates to a lower price point of $1,088,000.

INTERSTATE LOCATION
• This Family Dollar is located directly off Interstate 80 in Wells, NV. Wells is located in the northeast corner of the state.
• I-80 is a major east-west interstate that connects Wells to Reno, NV.
• Wells High school and elementary school is less than half a mile from this Family Dollar.
• Wells Municipal Airport is located 3 miles from this Family Dollar.

NEVADA IS A TAX FREE STATE
• Nevada is one of nine income tax free states.

CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2012 and extended the lease for an additional 5 years.
• Family Dollar exercised their first option period in April 2022 which extended the lease through March 2027.
• There are 3 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension speaks to Family Dollar's confidence and dedication to this market & location.
• Tenant is responsible for Parking Lot Restriping, Landscaping, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include Parking Lot, Roof & Structure.
• There are 10% rent increases in each of the remaining four, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion

Attachments

OM - Family Dollar - Wells, NV

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,028 SF
Building Class
B
Year Built
2011
Price
£858,432
Price Per SF
£107
Net Initial Yield
9%
NOI
£77,243
Tenancy
Single
Number of Floors
1
Building FAR
0.29
Land Acres
0.63 AC
Zoning
TC
Frontage
157 ft on Humboldt Ave

Amenities

  • Corner Lot
  • Pylon Sign
  • Signage
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PROPERTY TAXES

Parcel Number 002-661-004 Improvements Assessment £299,354
Land Assessment £9,603 Total Assessment £308,957

PROPERTY TAXES

Parcel Number
002-661-004
Land Assessment
£9,603
Improvements Assessment
£299,354
Total Assessment
£308,957
(702) 215-7100

  • Listing ID: 31536070

  • Date on Market: 17/04/2024

  • Last Updated:

  • Address: 640 Humboldt Ave, Wells, NV 89835

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Family Dollar | Interstate Location | 640 Humboldt Ave
(702) 215-7100 x

Family Dollar | Interstate Location | 640 Humboldt Ave

Cameron Glinton

(702) 215-7100

(702) 215-7100

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