FAMILY DOLLAR | HOUSTON, TEXAS

Purchase Price
$1,177,777
Location
1212 Aldine Bender Rd
Cap Rate
6.75%
Annual Rent
$79,500.00
Building Size
9,180 SF
Land Area
1.09 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
7.25 Years
LEASE EXPIRATION
12/31/2027
Renewal Options
Six (6) - Five (5) Year
RENT INCREASES
10% at Options
Parking
31 Spaces
Year Built
2008
APN
1309440010001
Traffic Counts
23,006 VPD

INVESTMENT HIGHLIGHTS

 

FAMILY DOLLAR CORPORATE LEASE:

  • 2008 Construction
  • 7.25 Years Remaining in the Lease Term
  • Six (6) - Five (5) Year Option Periods with 10% Rental Increases
 

RECENT LEASE EXTENSION | RECENT H2 REMODEL | HIGH PERFORMING LOCATION:

  • In October 2020, Tenant Extended the Lease Early Through December 31, 2027
  • Tenant Recently Completed the H2 Remodel to the Subject Property
  • In 2019, Tenant Operated at a 4.42% Rent-to-Sales Ratio
 

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 Lawn and Landscape Maintenance Including Mowing, Snow Removal, Ice Removal, Trash Removal, Repairing Parking Area Lights; and Restriping the Parking Lot
  • Tenant is Responsible for Asphalt/Concrete Repairs Made to the Parking, Service & Access in Any Lease Year up to $1,500 Per Year
 

LOCATION:

  • Traffic Counts of Approximately 23,006 Vehicles Per Day
  • Aldine Bender Road is a Six (6) Lane Road
  • Subject Property is Located Less than 7.2 Miles from George Bush Intercontinental Airport - the 14th Busiest Airport in the United States
 

PROXIMITY TO OTHER MAJOR CITIES:

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

TRADE AREA DEMOGRAPHICS:

  • 1-Mile Population = 3,477 Residents
  • 1-Mile Average Household Income = $53,926
  • 3-Mile Population = 76,481 Residents
  • 3-Mile Average Household Income = $42,592
  • 5-Mile Population = 224,801 Residents
  • 5-Mile Average Household Income = $46,971

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