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Family Dollar, Piedmont, AL

Family Dollar

AL, United States

Price $1,433,750
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 8,320 sq. ft.
Lot Size 1.2 Acres (52,272 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

CORPORATE GUARANTEED 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

HARD CORNER LOCATION IN RETAIL CORRIDOR
» Excellent hard corner location on heavily-trafficked U.S. Highway 278
» U.S. Highway 278 is Piedmont’s primary retail corridor
» Close proximity to major national tenants, including CVS Pharmacy, AutoZone, H&R Block, and McDonald’s
» Family Dollar is relocating from an older store and has an established customer base in the area

BRAND NEW 2016 CONSTRUCTION
» Features latest Family Dollar prototype
» Built to tenant’s exact specifications
» Brand new building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the hard corner of Haslam Street and U.S. Highway 278, with excellent access and visibility to 9,900 vehicles per day. U.S. Highway 278 is Piedmont’s primary retail corridor, with several major retailers located near the property. Tenants in the area include Huddle House, AutoZone, McDonald’s, CVS Pharmacy, and many others. The property benefits from its close proximity to Piedmont’s largest employers. Bennet Lumber and Industrial Resin Recycling are within walking distance of the property. Additionally, the 140-acre Nances Creek Industrial Park is less than a mile east of the property down U.S. Highway 278. The park is home to several large industrial companies, including CVG and Garcy Manufacturing. Additionally, the property is surrounded by residential neighborhoods, which will be served by Family Dollar.

Family Dollar is relocating from an older store in Piedmont, where they have operated successfully for years. Family Dollar has an established customer base in the area and is committed to operating in the Piedmont, Alabama submarket.

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