Family Dollar – Thoreau, NM
Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Thoreau, New Mexico – located in an Opportunity Zone! This store was rebuilt in 2015 & completely brand new! The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. Tenant is responsible for the HVAC system. There are 5 years remaining on the primary term as there was recently a 5 year extension -proving the success and commitment to this site. 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 has been operating successfully since since July 2008. It performs in the top 1/3 of all Family Dollar stores in the state.
This Family Dollar is highly visible as it is strategically positioned off of I-40 which sees 20,010 cars per day, on NM-371 which sees 4,124 cars per day. It is conveniently located on the main thoroughfare surrounded by local schools, residential, & other retailers. The 10 mile population from the site is 3,945 while the 3 mile average household income is $41,524 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 $77,170. Owner is a license New Mexico Real Estate Broker.
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Recently Extended Primary Term Proving Commitment to the Site
• Located in an Opportunity Zone!
• 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
• 5 Years Remaining on Primary Term
• 3 Mile Household Income $41,524
• 10 Mile Population 3,945
• 4,124 VPD on NM-371
• Quick & Convenient Access to I-40 | 20,010 VPD
• Corporate Guarantee with “BBB-” Credit Rating
• Essential Retailer | On Main Thoroughfare
• Store Operates in the Top 1/3 of all Family Dollars in the State!
• Tenant is Responsible for the HVAC System
Instate Broker of Record: Brian Brockman | Bang Realty