FD – Kansas City – NN
Fortis Net Lease is pleased to present this 10,300 SF Retro-Fit Family Dollar store located in Kansas City, KS. The property is encumbered with a NN Lease, leaving limited landlord responsibilities. The landlord is responsible for capital repair and replacement to the roof, structure, and parking lot. Tenant is responsible for Taxes, Insurance, and Common Area Maintenance. This newer 9 year lease (7.5 Years Remaining) contains six five (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BB+”, which is classified as Strong.
This Family Dollar is highly visible as it is strategically positioned on Kansas Ave. The five mile population from the site exceeds 213,000 while the one mile median household income exceeds $29,000 per year, making this location ideal for an Family Dollar. The one mile population is expected to increase by an additional 3.43% by 2021. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of an Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one the nation’s top dollar stores. List price reflects a 7.50% cap rate based on NOI of $145,154. Kansas broker of record, Adam Blue, Area Real Estate Advisors.
• NN Lease Limited Landlord Responsibilities
• 9 Year Term | Six (5 Year) Options
• One Mile Household Income $29,921
• Five Mile Population Exceeds 213,000
• Strong BB+ Grade Credit Rating
• Rare Major Dollar Store MSA Offering
• Ideal Family Dollar Demographics
• 3.43% One Mile Pop Growth by 2021