Family Dollar – Laurel, MS
Fortis Net Lease is pleased to present this 7,250 SF. freestanding Family Dollar store located in Laurel, Mississippi. 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 February 2015.
This Family Dollar is highly visible as it is strategically positioned on the signalized corner of Sawmill Road (which sees 9,090 cars per day) and Mason Street (which sees 6,201 cars per day). The site can conveniently be accessed from both streets. The five mile population from the site is 29,729 while the one mile average household income is $45,375 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 $102,080.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Signalized Hard Corner Location | Accessible From Both Streets
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• Three Mile Household Income $45,375
• Five Mile Population 29,729
• 9,090 Cars Per Day on Sawmill Road
• 6,201 Cars Per Day on Mason Street
• Corporate Guarantee with “BBB-” Credit Rating
• Across the Street From 350,000 SF Sawmill Square Mall
Instate Broker of Record: Mathew Laborde | Elifin | License # 21862