FD – St Louis
Fortis Net Lease is pleased to present this 9,100 SF Family Dollar store located in St. Louis, MO. The property is encumbered with a NN Lease, leaving limited landlord responsibilities, with five years remaining. The lease was recently renewed for an additional five years and contains Five (5) Yr. Options to renew, each with a rental rate increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BB+”, which is classified as Strong. The building recently had major upgrades, the store is open with rent having commenced in October 2006.
This Family Dollar is highly visible and as it is strategically positioned on Virginia Ave. The five mile population from the site exceeds 256,500 while the one mile average household income exceeds $34,500 per year, making this location ideal for an 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 an Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one the nation’s top dollar stores. List price reflects an 8.87% cap rate based on NOI of $28,829.
• Recently Extended NN Lease
• 5 Years Remaining | Five (5 Year) Options
• One Mile Household Income $34,566
• Five Mile Population Exceeds 256,500
• Strong BB+ Grade Credit Rating
• Major MSA Family Dollar Offering
• Recent Major Upgrades
• Strong Tenant Commitment to Site
Instate Record of Broker: Adam Blue | Area Real Estate Advisors | License #: 2002027677