Family Dollar – Kinder, LA
Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Kinder, Louisiana. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. There are 10 years remaining on the primary term. 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 with rent having commenced in September 2015.
This Family Dollar is highly visible as it is strategically positioned on 1st Avenue which sees 5,532 cars per day, just a short distance off of Highway 165 which sees 8,227 cars per day. It is also located only 5 miles from the largest casino resort in Louisiana, Coushatta Casino Resort. The ten mile population from the site is 11,221 while the three mile average household income is $59,810 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 $92,757.
• Absolute NNN Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• Concrete Parking Lot
• Three Mile Household Income $59,810
• Ten Mile Population 11,221
• 5,532 VPD on 1st Ave
• 8,227 VPD on Highway 165
• Corporate Guarantee with “BBB-” Credit Rating
• Only 5.4 Miles From Coushatta Casino Resort – the Largest Casino Resort in the State
Instate Broker of Record: Mathew Laborde | Elifin | License # 21802