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Family Dollar, Prichard, AL

Family Dollar

AL, United States

Price $1,613,200
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases Beginning in Year 10 and Every 5 Years Thereafter
Year Built 2016
Building Size 9,180 sq. ft.
Lot Size 1.15 Acres (50,094 sq. ft.)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG-TERM LEASE WITH SCHEDULED RENT INCREASES
» 15-year initial term with six five-year option periods
» The lease is guaranteed by Family Dollar Stores, Inc. – rated “BB” by S&P
» Scheduled rent increases of 10% after year 10 and every 5 years thereafter, providing a hedge against inflation
ABSOLUTE TRIPLE NET LEASE
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management
» Ideal investment opportunity for an out-of-area investor
BRAND NEW CONSTRUCTION
» Building was built in 2016 to tenant’s exact specifications
» Features latest Family Dollar prototype
RELOCATION SITE IN MOBILE MSA
» Family Dollar is relocating from another Prichard location where they operated successfully for years
» Family Dollar has an established customer base in the area and is committed to staying in the Mobile MSA
» Located just north of Mobile, the largest city in the central Gulf Coast region
» Mobile is the cultural and economic center of the central Gulf Coast
» Largest municipality between New Orleans, Louisiana and St. Petersburg, Florida

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on Saint Stephens Road, a major arterial, with excellent access and visibility to 23,410 vehicles per day. Access to Interstate 65, which boasts a traffic count of 70,930 vehicles per day, is located half a mile from the site. The property is located near several major retailers and shopping centers. Tenants in the immediate area include Church’s Chicken, Circle K, John Deere, Love’s Travel Stop, Domino’s Pizza, McDonald’s, and Burger King. A retail center anchored by Food For Less and CVS is a mile and a half northwest of the property. Additionally, a large shopping center featuring Food For Less, Shoe Show, MetroPCS, and Cricket Wireless, among others, is located just over a mile southeast of the property. Several schools are near the site. The schools are part of the Mobile County Public School System, the largest school system in Alabama and the largest employer in the region. Additionally, the property is surrounded by residential neighborhoods, which will be served by Family Dollar.
Family Dollar is relocating from a successful Prichard location where they operated successfully for years. The previous Family Dollar site was located within a retail center. Family Dollar has an established customer base in the Prichard area and is committed to operating in the Mobile MSA.

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