FAMILY DOLLAR | COEBURN, VIRGINIA
INVESTMENT SUMMARY
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
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