FAMILY DOLLAR | COEBURN, VIRGINIA

Purchase Price
$1,205,000
Location
202 Front Street East
Cap Rate
9.00%
Annual Rent
$108,500.00
Building Size
8,400 SF
Land Area
1.74 Acres (75,794 sf)
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
4.5 Years
LEASE EXPIRATION
06/30/2024
Renewal Options
Six (6) - Five (5) Year
RENT INCREASES
10% at Options
Parking
31 Spaces
Year Built
2014
APN
51195C02550
Traffic Counts
4,510 VPD

INVESTMENT HIGHLIGHTS

 

FAMILY DOLLAR CORPORATE GUARANTEED LEASE:

  • Approximately 4 Years Remaining in the Initial 10 Year Lease Term
  • 2014 Upgraded Construction (Brick Front Exterior)
  • Six (6) – Five (5) Year Options with 10% Rent Increases
 

NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:

  • Landlord Responsibilities Limited to Roof and Parking Lot
  • Tenant is Responsible for Maintaining, Repairing & Replacement of HVAC Units
  • Tenant Responsible for Lawn and Landscape Maintenance (Snow & Trash Removal), Repairing Parking Area Lights; and Restriping the Parking Lot
  • Tenant is Responsible for Parking Lot Repairs Until the Aggregate Costs Equal $2,500.00 in any Lease Year
 

RELOCATION STORE  | 2019 STORE REMODEL:

  • In 2014, Family Dollar Relocated to its Current Location from an Older Location Down the Street - Signifying Their Commitment to the Coeburn Market
  • In January 2019, Family Dollar Celebrated its Grand Re-Opening After Extensive Renovations at the Sole Cost and Expense of Family Dollar
 

PROXIMITY TO OTHER MAJOR CITIES:

  • Kingsport, Tennessee | 40 Miles – 1 Hour Drive
  • Bristol, Virginia | 54 Miles – 1 Hour Drive
  • Johnson City, Tennessee | 63 Miles – 1 Hour: 20 Minute Drive
 

TENANT:

  • Dollar Tree, Inc. (NASDAQ: DLTR) Features Investment Grade Credit (BBB-) by Standard & Poor’s
  • 15,262 Stores in 48 States as of November 2019
  • Ranked #135 on the Fortune 500 List
  • High Growth Tenant – in 2019 Family Dollar/Dollar Tree Plans to Open 550 New Stores and Have Identified the Additional Market Opportunities to Support a Total of at Least 26,000 Stores Across North America

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