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Family Dollar, Canton, MS

Family Dollar

MS, United States

Price $1,650,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases After Year 10 and Every 5 Years Thereafter
Year Built 2017
Building Size 9,180 SF
Lot Size 0.69 Acres (30,000 SF)
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 RENTAL INCREASES TO LONG-STANDING TENANT
» 15-year initial term with six five-year option periods
» Scheduled rental increases of 10% after Year 10 and every five years thereafter, providing a hedge against inflation
» Family Dollar has operated at this location for over 20 years and recently rebuilt the building in 2017, demonstrating long-term commitment to the location

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 CENTRAL CANTON
» Excellent hard corner location in downtown Canton
» Close proximity to Nissan auto assembly plant, the largest employer in Madison County, with 6,000 employees
» Surrounded by residential neighborhoods, providing a strong customer base

PRIME JACKSON MSA LOCATION
» Madison County has the highest per capita income in Mississippi
» The median household income for Madison County is 60% higher than the state median
» Madison County’s population growth rate is the highest among the five counties in the Jackson metropolitan area

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the hard corner of North Liberty Street and North Street, with excellent access and visibility to 11,000 vehicles per day. The property is centrally located a block from downtown Canton, which is the location of Canton’s central business district and the city’s historic courthouse, which is visited by a number of tourists each year. The property is close to several major retailers, including Subway, Citi Trends, McAlister’s Deli, Piggly Wiggly, Fred’s, H&R Block, and AutoZone. Other nearby tenants include Walmart Supercenter, Tractor Supply Company, McDonald’s, NAPA Auto Parts, Cato, MetroPCS, Aaron’s, and many others.

Several major employers are located near the property, including Peco Foods, with 1,300 employees, and Nissan, with 6,000 employees. Nissan is the largest employer in Madison County and the third
largest employer in the Jackson metropolitan area. A large industrial park is also located near the property. Three schools are located within walking distance of the property, with a total enrollment of nearly 2,000 students. Additionally, the property is close to a number of homes and residential neighborhoods, which will be served by Family Dollar.

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