FAMILY DOLLAR | ALBANY, NEW YORK
INVESTMENT SUMMARY
Purchase Price
$2,160,136
Location
28 Broadway
Cap Rate
5.85%
Annual Rent
$126,367.92
Building Size
8,320 SF
Land Area
1.04 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
8.25 Years
LEASE EXPIRATION
06/30/2029
Renewal Options
RENT INCREASES
CPI Every 3 Years (6% Max)
Parking
34 Spaces
Year Built
2015
APN
012603 55.17-1-37.1
Traffic Counts
10,660 VPD
INVESTMENT HIGHLIGHTS
FAMILY DOLLAR LEASE:
- Approximately 8.25 Years Remaining in the Initial 15 Year Lease Term
- 2015 Construction - 8,320 SF
- Six (6) - Five (5) Year Option Periods
A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
RARE LEASE STRUCTURE - RENT INCREASES EVERY 3 YEARS:
- CPI-Based Rental Increases Every 3 Years During Initial Lease Term and Option Periods
PROXIMITY TO OTHER MAJOR CITIES:
- Hartford, Connecticut | 113 Miles
- New York City, New York | 153 Miles
- Manchester, New Hampshire | 162 Miles
- Providence, Rhode Island | 163 Miles
- Boston, Massachusetts | 170 Miles
- Philadelphia, Pennsylvania | 233 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 5,460 Residents
- 1-Mile Average Household Income = $81,408
- 3-Mile Population = 84,202 Residents
- 3-Mile Average Household Income = $74,803
- 5-Mile Population = 209,696 Residents
- 5-Mile Average Household Income = $82,335
TENANT:
- Dollar Tree, Inc. (NASDAQ: DLTR) Features Investment Grade Credit (BBB) by Standard & Poor's
- 15,685 Stores Across 48 States and Five Canadian Provinces as of December 31, 2020
- Ranked #131 on Fortune 500 List
CREDIT RATING UPGRADE - DECEMBER 2020:
- Standard & Poor's Recently Upgraded Dollar Tree's Credit Rating to BBB
- Standard & Poor's Credits the Upgrade to Dollar Tree's Resilient Performance Throughout 2020's Government-Imposed Shutdowns, its Aggressive Debt Reduction Since Acquiring Family Dollar in 2015, and its Ongoing Store Renovations and Merchandising Improvements