Family Dollar – Cameron, LA
Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Cameron, LA. The property is encumbered with an NN Lease, leaving limited landlord responsibilities. There is 1 year and 6 months remaining on the primary term. The lease contains 5 (5 year) options to renew, 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. the store is currently open with rent having commenced in 2003.
This Family Dollar is highly visible as it is strategically positioned on Cameron, LA which sees 3,551 cars per day. The ten mile population from the site is 1,022 while the three mile average household income is $41,071 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 8.20% cap rate based on NOI of $57,310.
• NN+ Lease | Landlord Responsibilities (Roof, Structure & Lot)
• 5 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• Concrete Parking Lot
• Three Mile Household Income $41,071
• Ten Mile Population 1,022
• 3,551 VPD on Marshall St
• Corporate Guarantee with “BBB-” Credit Rating