Family Dollar | Dollar Tree – Bushnell, IL
Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Bushnell, Illinois. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store is currently under construction and on track for a rent start date in late June 2023.
This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned on the corner of Cole Street and Smith Street which sees 2,686 cars per day. It sits across the street from a new Dollar General Market store on the main thoroughfare through the city. The ten mile population from the site is 7,090 while the three mile average household income is $55,315 per year, making this location ideal for a Family Dollar | Dollar Tree store. 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 | Dollar Tree store. 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 6.50% cap rate based on NOI of $123,375.
• Dual Concept Stores See a 20% Increase in Revenue
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• 2023 BTS Construction | Late June 2023 Rent Start
• Four (5 Year) Options | $0.50 PSF Rental Rate Increase
• Corner Location | Concrete Parking Lot
• Across From Brand New Dollar General Market
• On Main Thoroughfare
• Investment Credit Tenant | Standard & Poor’s: ‘BBB-‘
• 2,686 Cars Per Day at Cole Street and Smith Street
• 3 Mile Average Household Income $55,315
• 10 Mile Population 7,090
Instate Broker of Record: Eli Schultz | Fortis Net Lease