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Family Dollar, Rayne, LA

Family Dollar

LA, United States

Price $1,823,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% after year 10 of the intitial term and at the beginning of every 5 year option period.
Year Built 2015
Building Size 8,320 sq. ft.
Lot Size 0.90 Acres (39,204 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

BRAND NEW 15-YEAR ABSOLUTE NNN LEASE
» Corporate Guarantee
» Scheduled Rental Increases

RELOCATION SITE

2015 CONSTRUCTION
» Corporate guaranteed lease by Family Dollar
» Scheduled rent increases of 10% after year 10 and every 5 (five) years thereafter
» Family Dollar is responsible for all taxes, insurance, and maintenance, providing a low-management investment
» Ideal investment for an out-of-state investor

RELOCATION SITE FOR STRONG NATIONAL TENANT
» Family Dollar has a long standing tenancy and established customer base in the immediate area
» Tenant has operated successfully in market for decades
» Family Dollar has a “BB” rating from Standard & Poor’s

BRAND NEW 2016 CONSTRUCTION
» Built to tenant’s specifications and features Family Dollar’s latest store concepts
» Brand new, high quality construction

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located just off of the southwest corner of West D. Street and Section Avenue in Rayne, Louisiana. The estimated traffic count on North Adams Avenue, 2 blocks away from the property is 11,000 AADT. Family Dollar relocated to this site from an older, inline store a half mile north on Section Avenue, indicated Family Dollar’s strong desire to operate in this submarket. An estimated 13,951 people reside within a five-mile radius of the subject property with an average household income of $51,662.

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