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Family Dollar, Seminole, OK

Family Dollar

OK, United States

Price $1,557,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases Rental increases of 10% in year 11 of the initial termand at the beginning of every 5-year option period
Year Built 2015
Building Size 8,353 sq. ft.
Lot Size 0.72 Acres (31,541 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Senior Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Senior Managing Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG TERM LEASE WITH SCHEDULED RENT INCREASES
» The lease is guaranteed for 15 years by Family Dollar Stores, Inc. (NASDAQ: “DLTR”)
» Scheduled rental increases of 10% in year 11 and at the beginning of each option period, 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

RELOCATION SITE FOR STRONG NATIONAL TENANT
» Tenant has operated successfully in market for years and is committed to operating within the Seminole, OK submarket
» Tenant has transitioned from a mid-block shop space to a hard-corner, freestanding building
» Family Dollar and its parent company, Dollar Tree, have over 13,000 locations in the U.S. and Canada
» Annual sales of over $18 billion

BRAND NEW CONSTRUCTION
» Built in 2015 to tenant’s exact specifications
» Features the latest Family Dollar store prototype
» Brand new building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located in on the hard-corner of West Strother Avenue and North Milt Phillips Avenue (U.S. Route 377), which are both major thoroughfares running through Seminole. The traffic count on North Milt Phillips Avenue near the site is 14,500 vehicles. The store is located near residential neighborhoods and complementary retailers such as McDonald’s, O’Reilly, AutoZone, Sonic, ACE Hardware, Edward Jones, Carl’s Jr., and KFC. Additional retailers located north along North Milt Phillips Avenue include Hallmark, Stage, Homeland Pharmacy, Bank of the West, Dollar General, Aaron’s, Hibbett Sports, Supercuts, Pizza Hut and AT&T. Located less than a mile south is Seminole’s downtown, from which Family Dollar relocated from an older, mid-block store, indicating Family Dollar’s strong desire to operate in Seminole. Schools in the vicinity include Seminole High School and Woodrow Wilson Elementary School, which have a combined enrollment of 1,176 students. Additionally, the 18- hole Jimmie Austin Golf Course is located just east of the property and has served the surrounding community since it first opened in 1920.

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