x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Family Dollar, Houston, TX

Family Dollar

Price $1,804,000
Cap Rate 7.00% Return
NOI $126,302
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Excluding all Exterior and Structural Portions of the Building
Rental Increases 5% Rental Increases after Year 10 and Every Five (5) Years Thereafter
Year Built 2019
Building Size 8,320 SF
Lot Size 0.91 Acres (39,555 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288


Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Florida-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

CORPORATE GUARANTEED NET LEASE
» New 10-year lease with six five-year options
» Guaranteed by Family Dollar Stores, Inc., owned by Dollar Tree, Inc. (NASDAQ: “DLTR”)
» Scheduled rental increases, providing a hedge against inflation

HIGH-TRAFFIC LOCATION NEAR NOTABLE RETAILERS
» Excellent visibility and access to 19,495 vehicles per day directly in front of the property on Hiram Clarke Road
» Convenient access to U.S. Route 90 Alternate (92,032 AADT)
» Nearby retailers include CVS, Palais Royal, Fiesta Market, Popeyes, AutoZone, Advance Auto Parts, Home Depot, Rainbow, and Cricket Wireless, among others

RAPIDLY GROWING AREA WITH ROBUST DEMOGRAPHICS
» Ideally located within the Southwest Houston/Missouri City submarket, one of the fastest growing areas of Houston, with some of the top selling master planned communities in the country
» Core Houston location within Houston’s second loop
» 312,892 residents and nearly 100,000 daytime employees within a five-mile radius
» The population within five miles of the property— which grew by 16.7% between 2010 and 2018—is expected to increase an additional 8.3% by 2023

NEAR MAJOR EMPLOYERS AND CULTURAL AMENITIES
» Close to several of Houston’s primary business districts, including downtown Houston, the Texas Medical Center, Uptown Houston, and Greenway/Upper Kirby
» Near NRG Park, a 350-acre sports, convention, and entertainment complex that hosts over 500 events annually



Property Description

The property is strategically located on Hiram Clarke Road, with excellent visibility and access to 19,495 vehicles per day directly in front of the property. Hiram Clarke Road provides convenient access to U.S. Route 90 Alternate (92,032 AADT). Several notable retailers are located near the property, including CVS, Palais Royal, Fiesta Market, Popeyes, AutoZone, Advance Auto Parts, Home Depot, Rainbow, and Cricket Wireless, among others. Ideally located within the rapidly developing Southwest Houston/Missouri City submarket, the property benefits from a large, steadily increasing customer base. The submarket is one of the fastest growing areas of Houston, with some of the top selling master planned communities in the country. Currently, 312,892 residents live within a five-mile radius of the property. The population within five miles of the property— which grew by 16.7% between 2010 and 2018—is expected to increase an additional 8.3% by 2023.

The property is also close to major employment centers, including large industrial developments in the Southwest Houston/Missouri City submarket as well as several of Houston’s primary business districts. As a result, nearly 100,000 daytime employees work within five miles of the property, further expanding Family Dollar’s customer base.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link