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Family Dollar, Jacksonville, NC

Family Dollar

NC, USA

Price $1,690,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases in Year 11 and At The Beginning
Year Built 2016
Building Size 8,320 sq. ft.
Lot Size 2.05 Acres (89,298 sq. ft.)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG TERM LEASE WITH SCHEDULED RENT INCREASES
» The lease is guaranteed for 15 years 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
» 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
» Located on hard corner, allowing for great visibility and access
» Features latest Family Dollar prototype

LOCATED IN DESIRABLE JACKSONVILLE MARKET
» Forbes ranked Jacksonville the fifth-fastest growing small city in the U.S. in 2014
» Demographically, Jacksonville is the youngest city in the U.S. – average age of 22.8 years old
» Future job growth in Onslow County over the next ten years is projected to be over 34%

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the hard corner of Pony Farm Road and Burgaw Highway, with 17,000 vehicles per day directly in front of the site. Pony Farm Road connects directly to Wilmington Highway, which boasts a traffic count of 34,000 vehicles per day. Nearby retailers include Dunkin’ Donuts, Advance Auto Parts, Walgreens, Walmart Supercenter, Food Lion, and many others.

The property benefits from its close proximity to Marine Corps Bases Air Station New River and Camp Lejeune, which are three and ten miles from the property, respectively. These military bases are the largest employers in the region and are home to over 144,000 military personnel, military family members, and civilian employees, providing a strong customer base for Family Dollar. Additionally, the property is located near multiple residential neighborhoods and is in a prime position to benefit from future growth in Jacksonville, one of the nation’s fastest growing cities.

Contact Us About This Property

Mike Form
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