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Family Dollar, Harriman, TN

Family Dollar

TN, USA

Price $1,470,620
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 1.23 Acres (53,578.8 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Senior Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

LONG TERM LEASE WITH SCHEDULED RENT INCREASES
» The lease is guaranteed for 15 years by Family Dollar Stores, Inc.
» 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

FAST-GROWING LOCATION IN HARRIMAN’S PRIMARY RETAIL CORRIDOR
» Surrounded by multiple national and regional retailers
» Roane County is the sixth largest micropolitan in Tennessee, and one of the fastest growing areas in the state

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the hard corner of Woody Avenue and Roane Street, with excellent access and visibility to 18,730 vehicles per day. Access to Interstate 40 is just over a mile from the property, down Roane Street. Interstate 40 connects Harriman to Nashville to the west and Knoxville to the east, and is the main route between the two metropolitan areas. Interstate 40 experiences a traffic count of 43,900 vehicles per day near the site.

The site benefits from its location in Harriman’s primary retail corridor. Major national and regional retailers, including Advance Auto Parts, Subaru, U.S. Cellular, and AutoZone, are located near the property. Additionally, The Emory Golf & Country Club is located directly across from the property. The property is also surrounded by residential neighborhoods, which will be served by Family Dollar.

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