FAMILY DOLLAR | ALBANY, NEW YORK

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
Six (6) - Five (5) Year
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

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