Family Dollar/Dollar Tree – Pennington, AL
Fortis Net Lease is pleased to present this built to suit 10,500 SF Dollar Tree & Family Dollar Hybrid store located in Pennington, AL. The property is encumbered with a ten (10) year double net lease, leaving minimal landlord responsibilities. The lease contain four (5) year options to renew, each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BBB-”which is classified as investment grade.
This Store is highly visible as it is strategically positioned in the heart of Pennington at Old Lock Rd and Main St.
The store is located within 2 miles from multiple warehouses averaging over 500,000 square feet of space and just 1.9 Miles from Georgia Pacific Paper Mill that has been in operation since 1959.
The five mile population is nearly 1,000with the three mile average household income of nearly $55,000.
This investment will offer a new owner 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 6.20% cap rate based on NOI of $104,055.
• 2 Miles from Georgia Pacific Paper Mill!
• Located in the Heart of Pennington
• New Dual Tenant Concept | Brand New Lease
• Combo Stores See 20% Increase in Revenue!
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• Four- (5 Yr) Options | $0.50 Rental Rate Increase
• Investment Credit Tenant | Standard & Poor’s: ‘BBB-‘
• Three Mile Average Household Income Nearly $55,000
• The Store Out Positions Other Retailers
Instate broker of record: Brian Brockman | Bang Realty