Family Dollar – Birmingham, AL

$1,516,428
Price
$106,150
Noi
7.0%
Cap Rate
8,400
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

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.

INVESTMENT HIGHLIGHTS
• 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