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Family Dollar | Dollar Tree - New 2022 Construction

3011 N Woodruff Rd, Weidman, MI 48893

Listing Price: $1,761,024

Cap Rate
6.35%
Tenant Name
Family Dollar | Dollar Tree
Years Remaining On Lease
10.1
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$167.72
Lease Type
Double Net
Rent Per Square Feet
$10.65

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar | Dollar Tree located at 3011 North Woodruff Road*** in Weidman, Michigan. Anticipated Delivery Date is set for June 30th, 2022, with rent set to commence on or before 90 days after June 30th, 2022. This 10,500-squarefoot building has an entrance directly off West Weidman Road. Family Dollar | Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year lease with four five-year options to renew. Family Dollar | Dollar Tree is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree acquired Family Dollar, Inc in July 2015. Together they are considered the nation’s largest small box discount retailer, operating over 16,000 stores nationwide. Family Dollar operates under a landlord friendly net-lease structure. As a result, freestanding Family Dollar retail stores provide an attractive combination of a long-term lease and a growing market concept that continues to capture value conscious shoppers, which boosts store productivity. Family Dollar | Dollar Tree’s relatively small footprint allows the company to open new stores in rural areas and small towns, as well as in large urban neighborhoods. With the stores uniformly laid out and stocked, store managers are able to focus on providing good customer service. This concept for a self-serve, cash and carry neighborhood discount store in low to middle income neighborhoods. The subject property is well-positioned between North Woodruff Road and West Weidman Road in the Weidman commercial district. This Family Dollar | Dollar Tree benefits from its ability to serve local residents as it is one of only three dollar stores within a ten-mile radius. Weidman is an unincorporated community located in Isabella County, 173 miles northwest of Detroit and 15 miles northwest of Mount Pleasant. This Family Dollar | Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Investment Highlights

  • New Family Dollar | Dollar Tree Combination Store Concept
  • Lease Guarantee From Family Dollar Stores, INC
  • 10-Year Initial Double-Net Lease Term | Four Five-Year Options
  • Brand New High Quality 2022 Construction | Rent Commences: On or Before 90 days after June 30th, 2022

Exclusively Listed By

Discount

Family Dollar | Dollar Tree - New 2022 Construction

Listing Price: $1,761,024

Cap Rate
6.35%
Tenant Name
Family Dollar | Dollar Tree
Years Remaining On Lease
10.1
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$167.72
Lease Type
Double Net
Rent Per Square Feet
$10.65

Investment Highlights

  • New Family Dollar | Dollar Tree Combination Store Concept
  • Lease Guarantee From Family Dollar Stores, INC
  • 10-Year Initial Double-Net Lease Term | Four Five-Year Options
  • Brand New High Quality 2022 Construction | Rent Commences: On or Before 90 days after June 30th, 2022

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar | Dollar Tree located at 3011 North Woodruff Road*** in Weidman, Michigan. Anticipated Delivery Date is set for June 30th, 2022, with rent set to commence on or before 90 days after June 30th, 2022. This 10,500-squarefoot building has an entrance directly off West Weidman Road. Family Dollar | Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year lease with four five-year options to renew. Family Dollar | Dollar Tree is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree acquired Family Dollar, Inc in July 2015. Together they are considered the nation’s largest small box discount retailer, operating over 16,000 stores nationwide. Family Dollar operates under a landlord friendly net-lease structure. As a result, freestanding Family Dollar retail stores provide an attractive combination of a long-term lease and a growing market concept that continues to capture value conscious shoppers, which boosts store productivity. Family Dollar | Dollar Tree’s relatively small footprint allows the company to open new stores in rural areas and small towns, as well as in large urban neighborhoods. With the stores uniformly laid out and stocked, store managers are able to focus on providing good customer service. This concept for a self-serve, cash and carry neighborhood discount store in low to middle income neighborhoods. The subject property is well-positioned between North Woodruff Road and West Weidman Road in the Weidman commercial district. This Family Dollar | Dollar Tree benefits from its ability to serve local residents as it is one of only three dollar stores within a ten-mile radius. Weidman is an unincorporated community located in Isabella County, 173 miles northwest of Detroit and 15 miles northwest of Mount Pleasant. This Family Dollar | Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Exclusively Listed By

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