Join Our Email List

x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

Submit Your 1031 Exchange Requirements

x

Family Dollar, Navarre, FL

Family Dollar

FL, USA

Price $1,780,000
Cap Rate
NOI $103,993
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof and Structure
Rental Increases 5% Rental Increases After Year 10 and Every Five Years
Year Built 2017
Building Size 8,320 SF
Lot Size 1.54 Acres (67,082 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Florida-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

CORPORATE GUARANTEED LEASE TO INVESTMENT GRADE TENANT WITH STRONG FINANCIALS
» Long-term lease guaranteed by Family Dollar Stores, Inc.
» Company operates over 13,000 stores and has annual sales of over $18 billion
» Rated “BBB-” by Standard & Poor’s

ABSOLUTE TRIPLE NET LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year initial term with six five-year option periods
» Scheduled rental increases of 5% after Year 10 and every five years thereafter, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing the ideal investment opportunity for an out-of-area investor

HIGH-TRAFFIC LOCATION WITH STRONG CUSTOMER BASE
» Located at the signalized hard corner of East Bay Boulevard and Highway 87, with excellent visibility and access to 30,600 vehicles per day
» Within walking distance of Navarre High School, which has a total enrollment of 2,200 students
» Close proximity to beaches along Santa Rosa Sound and the Gulf of Mexico, popular among both residents and tourists
» High average household income of $82,080 within a five-mile radius

NEW 2017 CONSTRUCTION
» Built in 2017 to tenant’s exact specifications
» New building, limiting near-term deferred maintenance or capital costs


Property Description

SOLD

The property is located at the signalized hard corner of East Bay Boulevard and Highway 87, with excellent visibility and access to 30,600 vehicles per day. Highway 87 provides convenient access to Navarre’s primary retail corridor. Notable tenants located near the property include Walmart Supercenter, Winn-Dixie, McDonald’s, CVS, Publix, Walgreens, Ace Hardware, Tom Thumb, O’Reilly Auto Parts, AT&T, and many others.

The property is conveniently located amongst Navarre’s residential neighborhoods and is close to schools and popular recreational areas. Navarre High School is located within walking distance of the property and has a total enrollment of 2,200 students. The property is also close to the beaches that line Santa Rosa Sound and the Gulf of Mexico. The beaches are popular among both residents and tourists. The community of Navarre Beach is also nearby. Navarre Beach has recently experienced a major uptick in development projects, with several large hotels under construction. The property also benefits from an affluent customer base; the average household income within a five-mile radius is $82,080.

Contact Us About This Property

Mike Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link