Family Dollar – Mansfield, OH
Fortis Net Lease is pleased to present this 8,008 SF. freestanding Family Dollar store located in Mansfield, Ohio. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. There are 8 years remaining on the term as the primary term was recently extended by 7 years – proving the success and commitment to this site. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase which automatically occur unless Family Dollar notifies Landlord otherwise. 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 since January 2004.
This Family Dollar is highly visible as it is strategically positioned on Lexington Avenue (Highway 42) which sees 12,748 cars per day. It is conveniently located on the main thoroughfare going into downtown Mansfield and surrounded by national tenants & residential. The five mile population from the site is 70,571 while the one mile average household income is $43,766 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 6.25% cap rate based on NOI of $74,000.08.
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Located in an Opportunity Zone!
• Recently Extended Primary Term by 7 Years | Committed to Site!
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• Concrete Parking Lot | 3 Years Remaining on Primary Term
• One Mile Household Income $43,766
• Five Mile Population 70,571
• 12,748 VPD on Lexington Avenue
• Corporate Guarantee with “BBB-” Credit Rating
• Essential Retailer | On Main Thoroughfare
Instate Broker of Record: Brian Brockman | Bang Realty