FD – Weleetka, OK
Fortis Net Lease is pleased to present this 8,320 SF Family Dollar store located in Weleetka, OK. The property is encumbered with an absolute NNN Lease, leaving zero landlord responsibilities. The lease contains a 10% rental increase in year 11 and contains additional six five (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Family Dollar Stores, Inc., which is owned by Dollar Tree Corporation and holds a credit rating of “BB+”, which is classified as Strong.
This Family Dollar is highly visible as it is strategically positioned on Main St. The ten mile population from the site exceeds 6,500 while the two mile median household income exceeds $38,000 per year, making this location ideal for an Family Dollar.
The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 6.60% cap rate based on NOI of $87,098.04.
• NNN Lease Zero Landlord Responsibilities
• 15 Year Term | Six (5 Year) Options
• Two Mile Household Income $38,088
• Ten Mile Population Exceeds 6,500
• Strong BB+ Grade Credit Rating
• Ideal Family Dollar Demographics
• Only Dollar Store in the City