Family Dollar Tree – Port Gibson, MS
Fortis Net Lease is pleased to present this newly extended 11,000 SF. Family Dollar | Dollar Tree combo store located in Port Gibson, Mississippi. This was a previous Family Dollar store in operation since 2004 and recently signed a new ten (10) year Double Net (NN) Lease for a Family Dollar | Dollar Tree combo store. The new lease offers 3 (5 year) options each with a 5% rental rate increase at each option. The lease is corporately guaranteed by Dollar Stores, Inc. which holds a credit rating of “BBB-”, which is classified as Investment Grade.
This Family Dollar | Dollar Tree combo store is highly visible as it is strategically positioned on US Highway 61 which sees 10,885 cars per day. The ten mile population from the site is 6,674 and growing, and the three mile average household income is $51,755 per year, making this location ideal for a Family Dollar | Dollar Tree. 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/Dollar Tree. 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 6.75% cap rate based on NOI of $77,966.04.
• Brand New 10 Year Double Net (NN) Lease
• Minimal Landlord Responsibilities
• Tenant Pays Percentage Rent Equal to 2% of Gross Sales Over a Threshold
• Three (5 Year) Options | 5% Rent Increase at Each Option
• New Family Dollar/Dollar Tree Combo Store Concept
• Converted from Family Dollar Store | In Operation Since 2004
• Proven Commitment & Success in this Market
• Three Mile Household Income $51,755
• Ten Mile Population 6,674
• 10,885 Cars Per Day on US-61
• Investment Grade Dollar Store with “BBB” Credit Rating
• Adjacent to Sonic Drive-Thru | Across From McDonald’s
Instate Broker of Record: Brian Brockman | Bang Realty