Family Dollar – Estancia, NM
Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Estancia, New Mexico – located in an Opportunity Zone in the Albuquerque Market! The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. Tenant is responsible for HVAC system. There are 5 years remaining on the primary term as there was recently a 5 year extension – proving the success and commitment to this site. The lease contains 4 (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 and has been operating successfully since July 2008.
This Family Dollar is highly visible as it is strategically positioned on 5th Street which sees 3,911 cars per day. It is conveniently located on the main thoroughfare through town, next to the High School & across the street from Estancia Municipal Airport. The 10 mile population from the site is 3,029 while the 3 mile average household income is $46,605 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 7.50% cap rate based on NOI of $61,732.20. Owner is a licensed New Mexico Real Estate Broker.
INVESTMENT HIGHLIGHTS
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Albuquerque Market Area
• Recently Extended Primary Term Proving Commitment to the Site
• Located in an Opportunity Zone!
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• 5 Years Remaining on Primary Term
• 3 Mile Household Income $46,605
• 10 Mile Population 3,029
• 3,911 VPD on 5th Street
• Corporate Guarantee with “BBB-” Credit Rating
• Essential Retailer | On Main Thoroughfare
• Adjacent to Estancia High School
• Tenant Responsible for HVAC System
Instate Broker of Record: Brian Brockman | Bang Realty