Family Dollar Tree – Turtle Lake, WI
Fortis Net Lease is pleased to present this newly expanded 10,500 SF. Family Dollar/Dollar Tree combo store located in Turtle Lake, Wisconsin. The Family Dollar store has been established in this location since 2006 (and ranked in the top 1/3 of all Family Dollar stores in WI!) and recently signed a new ten (10) year Double Net (NN) Lease for a Family Dollar/Dollar Tree combo store, which included a SF expansion. The new lease offers four (5 year) options each with a $0.50 PSF 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 Strong Grade.
This Family Dollar/Dollar Tree combo store is highly visible as it is strategically positioned on the corner of Western Blvd. and US Highway 8 which sees 10,679 cars per day. The ten mile population from the site is 10,097 and growing, and the three mile average household income is $57,338 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 $98,595.
INVESTMENT HIGHLIGHTS
• Brand New 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
• Minneapolis-St Paul Market Area
• Four (5 Year) Options | $0.50 PSF Increase at Each Option
• New Family Dollar/Dollar Tree Combo Store Concept | Expanded Store Footprint in late 2022
• Converted from Family Dollar Store (Performed in the Top Third Tier of all Family Dollar Stores in Wisconsin!)
• Three Mile Household Income $57,338
• Ten Mile Population 10,097 and Growing
• 10,679 Cars Per Day on US Highway 8
• Investment Grade Dollar Store with “BBB” Credit Rating
• Only Dollar Store Serving Community Within 12 Miles
• Less than 1 Mile From St. Croix Casino Turtle Lake
• 1.3 Miles From Turtle Lake High School With 115+ Students
Instate Broker of Record: Brian Brockman | Bang Realty