Family Dollar – Pascagoula, MS

$962,778
Price
$86,650
Noi
9.0%
Cap Rate
8,500
Leasable Area
2013
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 8,500 SF. freestanding Family Dollar store located in Pascagoula, Mississippi. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. 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 operating with rent having commenced in June 2013.

This Family Dollar is highly visible as it is strategically positioned on the hard corner of Eden Street and Ingalls Avenue which sees 9,460 cars per day. The five mile population from the site is 34,260 while the one mile average household income is $58,583 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 9.0% cap rate based on NOI of $86,650.

INVESTMENT HIGHLIGHTS
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• 2 Points of Ingress and Egress
• Hard Corner Location
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• Concrete Parking Lot
• One Mile Household Income $58,583
• Five Mile Population 34,260
• 9,460 Cars Per Day on Ingalls Avenue
• Corporate Guarantee with “BBB-” Credit Rating

 

Instate Broker of Record: Mathew Laborde | Elifin | License #21862