FAMILY DOLLAR | HOUSTON, TEXAS

Purchase Price
$1,200,000
Location
4917 N. Shepherd Drive
Cap Rate
6.25%
Annual Rent
$75,000.00
Building Size
9,180 SF
Land Area
0.69 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
6 Years
LEASE EXPIRATION
12/31/2026
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
10% at Options
Parking
37 Spaces
Year Built
2006
APN
1232630010001
Traffic Counts
29,722 VPD

INVESTMENT HIGHLIGHTS

 

FAMILY DOLLAR CORPORATE LEASE:

  • 6+ Years Remaining in the Current Term
  • 2006 Construction - 9,180 SF
  • Three (3) - Five (5) Year Option Periods with 10% Rental Increases
  • Corporately Guaranteed by Family Dollar Stores, Inc.
 

RECENT LEASE EXTENSION | RECENT H2 REMODEL:

  • In December 2020, Tenant Extended the Lease Early Through December 31, 2026
  • Tenant Recently Completed the H2 Remodel to the Subject Property
 

NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:

  • Landlord Responsibilities Limited to Roof & Parking Lot
  • Tenant is Responsible for Maintaining, Repairing & Replacement of HVAC Units
  • Tenant is Responsible for Reimbursing the Landlord for the Maintenance & Repair of the Exterior Areas (Re-Striping of the Parking, Service and Access Areas; Minor Pot Hole Repairs; Resealing of the Parking Areas; Landscaping and Irrigation Costs; Trash Removal for the Parking, Service and Access Areas; Graffiti Removal; Repainting of the Exterior of the Building (But Not More Frequently Than Once Every 4 Years); Repairs of the Parking Area Lights and Light Standards; Utility Charges for Lighting of the Parking, Service and Access Areas; Water Charges for Landscaping; Sweeping; Snow Removal. ***Reimbursement is Capped at 105% of the Amount Paid by Tenant in the Prior Lease Year
 

LOCATION:

  • Traffic Counts of Approximately 29,722 Vehicles Per Day
  • Strong Retail Synergy with Adjacent AutoZone
  • Subject Property is Located Approximately 8.5 Miles from Downtown Houston
 

PROXIMITY TO OTHER MAJOR CITIES:

  • Austin, Texas | 165 Miles
  • San Antonio, Texas | 197 Miles
  • Dallas, Texas | 239 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile = 14,640 Residents; $92,904 Average Household Income
  • 1-Mile Annual Population Growth = 1.11% (5.56% Over the Next 5 Years)
  • 3-Mile = 134,217 Residents; $97,079 Average Household Income
  • 3-Mile Annual Population Growth = 1.22% (6.12% Over the Next 5 Years)
  • 5-Mile = 371,119 Residents; $96,211 Average Household Income
  • 5-Mile Annual Population Growth = 1.26% (6.33% Over the Next 5 Years)

Offering MemoranduM

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