FD – Gaston, NC
Fortis Net Lease is pleased to present this 8,320 SF Family Dollar store located in Gaston, NC. The property is encumbered with an NN Lease, leaving minimal landlord responsibilities. The lease has 5% rent escalations in each of the 6, 5 year option periods. The lease is corporately guaranteed by Dollar Tree, Inc., which holds a credit rating of “BBB-“, which is classified as Investment Grade. The store is open with rent having commenced in 7/1/2018.
This Family Dollar is highly visible as it is strategically positioned on Lawrencville Rd with traffic count over 6,900 vehicles per day. Located nearby Lake Gaston, one of the biggest lake spots for weekenders and nice houses on the North side so all the traffic going to the North side of the lake comes down past the FD. The five mile population exceeds 22,500 and the two mile average household income exceeds $47,000 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.
• Original 10 Year Lease with 9.5 Years Remaining
• NN Lease | Minimal Landlord Responsibility
• Centrally Located within Community
• Gaston is Part of the Roanoke Rapids MSA
• Five Mile Population 22,691
• 40% of the US Population Within a Day Drive From Subject Property
• Two Mile Average Household Income $47,327
• Six (6), Five (5) Year Option Periods
• 5% Rent Increase at Each Option
• Brand New Built to Suit Construction in 2018
Instate Broker of Record: James Wilson | Pulliam Properties | License # C3903