Family Dollar – Birmingham, AL
Fortis Net Lease is pleased to present this 8,400 SF. freestanding Family Dollar store located in Birmingham, Alabama (Birmingham is the most populous city in Alabama). This property offers a 10 year doublet Net (NN) Lease. The lease contains 6 (5 year) options to renew remaining, each with a 10% 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.
This Family Dollar is highly visible as it is strategically positioned on Gadsden Highway which sees 21,281 cars per day, just a short distance off of the I-59 exit which sees 37,362 cars per day. The site is surrounded by national retailers and on a main thoroughfare into downtown Birmingham. The five mile population from the site is 102,143 while the one mile average household income is $58,872 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 7.0% cap rate based on NOI of $106,150.
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Birmingham MSA |Most Populous City in the State
• 6 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• One Mile Household Income $58,872
• Five Mile Population 102,143
• 21,281 VPD on Gadsden Highway
• 37,362 VPD on Interstate-59
• Corporate Guarantee with “BBB-” Credit Rating
• 3 Miles from Ruffner Mountain Which Attracts 100K+ Visitors/Year
• Only 9 Miles From Downtown Birmingham
Instate Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate LLC | License #53820