Family Dollar – St. Louis, MO
Fortis Net Lease is pleased to present this 12,750 SF. freestanding Family Dollar store located in St. Louis, Missouri. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease has 2 (5 year) options to renew remaining (each with a rental rate increase) after Family Dollar already extended their term previously. 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 has been open and operating successfully with rent having commenced in January of 2001.
This Family Dollar is highly visible as it is strategically positioned on Gravois Avenue which sees 17,284 cars per day. The five mile population from the site is 310,138 while the three mile average household income is $68,454 per year, making this location ideal for a Family Dollar. The five mile consumer spending is $3.059 Billion. 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 $22,190.82.
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• 2 (5 Year) Options to Renew | Rental Rate Increase at Each
• Commitment to Site | Extended Lea
• Concrete Parking Lot
• Three Mile Household Income $68,454
• Five Mile Population 310,138
• Five Mile Consumer Spending $3.059 Billion
• 17,284 Cars Per Day on Gravois Avenue
• Corporate Guarantee with “BBB-” Credit Rating
• Surrounded by Residential & Major National Tenants
• St. Louis MSA
Instate Broker of Record: Adam Blue | Elevate Property Advisors | License # 2014008174