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Family Dollar, Lake Park, GA

Family Dollar

GA, United States

Price $1,755,500
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases After Year 10 and Every 5 Years Thereafter
Year Built 2016
Building Size 9,100 sq. ft.
Lot Size 0.97 Acres (42,180 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

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENTAL INCREASES
» The lease is guaranteed for by Family Dollar Stores, Inc.
» Scheduled rental 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
HIGH-TRAFFIC LOCATION IN LAKE PARK’S PRIMARY RETAIL CORRIDOR
» Located just off of Interstate 75 – 44,660 AADT
» Located on the main arterial between downtown Lake Park and the Interstate 75 corridor
» Excellent location in Lake Park’s primary retail corridor, with close proximity to Lake Park Plaza, the largest retail center in the area surrounding Lake Park
BRAND NEW 2016 CONSTRUCTION
» Built to tenant’s exact specifications
» High-quality construction, featuring the latest Family Dollar design and store concepts
RELOCATION SITE
» Tenant has operated successfully in market for decades
» Tenant has transitioned from an in-line shop space to free-standing building

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on Lakes Boulevard, the major arterial connecting downtown Lake Park and Highway 41 to the Interstate 75 corridor, with excellent visibility and access to 10,330 vehicles per day. Access to Interstate 75 is one-half of a mile from the site down Lakes Boulevard; the highway boasts a traffic count of 44,660 vehicles per day. The property benefits from its close proximity to Lake Park’s primary retail centers. Winn- Dixie, Chick-fil-A, Taco Bell, and other major retailers are within walking distance of the site. Additionally, Lake Park Plaza is approximately a third of a mile from the property. Lake Park Plaza, anchored by Bealls Outlet, features 45 stores and is the largest retail center in the area surrounding Lake Park.

Several hotels and inns are near the property, including Motel 6, Quality Inn, Hampton Inn, and Travelodge. Tourists are drawn to Lake Park for its many lakes that provide opportunities for fishing, boating, sailing, and other recreational activities. A number of popular lakes are located near the property, as is the Francis Lake Golf Course. The semiprivate, 18-hole golf course is open year-round. The golf course is bordered by residential communities, which will be served by Family Dollar.

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