Family Dollar (Dark) – Bushnell, IL
Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar store located in Bushnell, Illinois. Family Dollar is dark (not operating) but still paying rent under the lease. 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. The store completed construction in June 2023.
This Family Dollar 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 store. This investment will offer a new owner much potential for a new tenant in a desirable location in a newer construction building. List price reflects a 10.75% cap rate based on NOI of $123,375.
INVESTMENT HIGHLIGHTS
• Family Dollar is Dark but Still Paying Rent
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• 2023 BTS Construction
• 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
• Corporate Guaranty
• 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: Brian Brockman | Bang Realty