Family Dollar – Vicksburg, MS
Fortis Net Lease is pleased to present this 2020 BTS, 9,180 SF. freestanding Family Dollar store located in Vicksburg, Mississippi. The property is secured with a 10-year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease has 6 (5 year) options to renew, each with a 5% rental rate increase. The lease is corporately guaranteed by Dollar Tree Stores, Inc. which holds a credit rating of “BBB-” which is classified as Investment Grade. The store has been open and operating successfully with rent having commenced in March of 2020.
This Family Dollar is highly visible as it is strategically positioned on the corner of Belva Drive and Highway 61 which sees 16,000 cars per day. The store is accessible from both streets. The ten mile population from the site is 31,835 while the three mile average household income is $71,691 per year, making this location ideal for a 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 of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $100,980.
INVESTMENT HIGHLIGHTS
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• 6 (5 Year) Options to Renew | 5% Rental Rate Increase at Each
• Concrete Parking Lot | 5.5 Years Remaining
• Corner Location | Accessible From Both Streets
• Three Mile Household Income $71,691
• Ten Mile Population 31,835
• 14,764 Cars Per Day on Highway 61
• Corporate Guarantee with “BBB-” Credit Rating
• Located on a Main Thoroughfare | Next to Warrenton Elementary School