FAMILY DOLLAR | PENSACOLA, FLORIDA

Purchase Price
$1,120,000
Location
1110 Gulf Beach Highway
Cap Rate
7.67%
Annual Rent
$86,000.04
Building Size
9,180 SF
Land Area
1.37 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
6.58 Years
LEASE EXPIRATION
12/31/2026
Renewal Options
Five (5) - Five (5) Year
RENT INCREASES
At Options
Parking
26 Spaces
Year Built
2006
APN
50-2S30-5020-001-010; 002-010
Traffic Counts
29,000 VPD

INVESTMENT HIGHLIGHTS

 

FAMILY DOLLAR CORPORATE GUARANTEED LEASE:

  • Approximately 6.50 Years Remaining in the Lease Term
  • 2007 Construction
  • 9,180 SF Building | $9.36 PSF
  • Five (5) - Five (5) Year Options
 

NN+ LEASE:

  • Landlord Responsibilities Limited to: Roof, Structure, Parking Lot Repairs (in Excess of $5,000 Per Occurrence)
  • Tenant is Responsible for: Repair/Replacement of HVAC Units, Parking Lot Repairs Less Than $5,000 Per Occurrence, Restriping the Parking Lot, Landscape Maintenance, Trash Removal, Exterior Lights & Parking Lot Lights
 

RARE CORPORATE GUARANTEE - FAMILY DOLLAR STORES, INC.:

  • Lease is Guaranteed by Family Dollar Stores, Inc.
  • New Family Dollar Leases are Typically Guaranteed by a Subsidiary of Family Dollar Stores, Inc.
 

H2 STORE REMODEL SLATED FOR 2020:

  • Family Dollar Has Committed to Making $150,000 of Improvements to the Subject Property Toward Improving the Store Layout
 

LOCATION:

  • Strategically Located at the NWC of Gulf Beach Highway (State Highway 292) and Patton Drive
  • Traffic Counts: Gulf Beach Highway (25,000 Vehicles Per Day)
  • Traffic Counts: Patton Drive (4,000 Vehicles Per Day)
  • Access from Gulf Beach Highway & Patton Drive

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