Family Dollar – Waveland, MS
Fortis Net Lease is pleased to present this 8,500 SF. freestanding Family Dollar store located in Waveland, 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 2011.
This Family Dollar is highly visible as it is strategically positioned on the hard corner of Kiln Waveland Cutoff Road and Highway 90 which sees 19,993 cars per day. The five mile population from the site is 24,763 while the one mile average household income is $42,559 per year, making this location ideal for a Family Dollar. This area is seeing steady growth with the 5 mile population growth rate at 4.91%. 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 $91,650.08.
• 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 $42,559
• Five Mile Population 24,763 | Expected 4.91% Growth
• 19,993 Cars Per Day on Highway 90
• Corporate Guarantee with “BBB-” Credit Rating
• Only 5 Miles From Hollywood Casino & Resort Gulf Coast
Instate Broker of Record: Mathew Laborde | Elifin | License # 21862