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Family Dollar, Titusville, FL

Family Dollar

FL, USA

Price $1,941,700
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN
Rental Increases 5% Rental Increases After Year 10 and Every 5 Years Thereafter
Year Built 2017
Building Size 8,320 SF
Lot Size 2.18 Acres (94,961 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENTAL INCREASES
» Long-term lease guaranteed by Family Dollar Stores, Inc. (NYSE: “DLTR”)
» 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

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

EXCELLENT LOCATION NEAR INTERSTATE 95 AND THE KENNEDY SPACE CENTER
» Convenient access to Interstate 95 (33,000 AADT), a heavily trafficked highway providing access to Miami, Jacksonville, and other metropolitan areas
» Near the Kennedy Space Center (8,500 employees and 1.5 million visitors a year) and Eastern Florida State College (over 15,500 students)
» Less than a mile away from Oak Park Elementary School, James Madison Middle School, and Astronaut High School, with a combined enrollment of over 2,440 students

NEW 2017 CONSTRUCTION
» Built in 2017 to tenant’s exact specifications
» Located near a signalized intersection, allowing for excellent visibility and access
» Features the latest Family Dollar store prototype

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on the signalized hard corner of North Singleton Avenue and Dairy Road, which have a combined traffic count of 15,190 vehicles per day. Dairy Road provides convenient access to U.S. Highway 1, a high-traffic highway that experiences a traffic count of 20,000 vehicles per day, and Interstate 95, with a traffic count of 33,000 vehicles per day. Both U.S. Highway 1 and Interstate 95 run along the East Coast from Florida all the way up through Maine, ending at the Canadian border.

The property benefits from its proximity to Dairy Plaza Shopping Center, anchored by Winn-Dixie. Additional national retailers near the site include Domino’s Pizza, Kangaroo Express, Walgreens, Tires Plus, Ace Hardware, O’Reilly Auto Parts, and McDonald’s. The property is within walking distance of Oak Park Elementary School and James Madison Middle School, which have a combined enrollment of over 1,375 students. It is also a short drive away from Eastern Florida State College, which sees a course enrollment of more than 25,000 students across its four campuses in Brevard County. The property is located near Titusville’s healthcare region, which includes Parrish Cancer Center, a 210-bed acute care hospital, and Consulate Health Care, a 120-bed skilled nursing center. The Kennedy Space Center, which employs 8,500 people and attracts over 1.5 million visitors a year, is located 17 miles south of the site. Arthur Dunn Airport is also close by, as is the Cocoa Beach Softball Spring Training complex.

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