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Family Dollar Tree | New Construction 2023

500 S Mable St, Pinconning, MI 48650

Listing Price: $1,875,000

Cap Rate
7.00%
Tenant Name
Family Dollar Tree
Years Remaining On Lease
9.3
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$178.57
Lease Type
Double Net
Rent Per Square Feet
$12.50

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar Tree located at 500 S Mable Street in Pinconning, Michigan. Family Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year lease with four five-year options to renew. Each option will contain a $0.50 per square-foot rent increase. Family 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 16,300 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 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 on the corner of Mable and Fifth Street, at the center of town with two ingress/egress points. Mable Street (M-13) is the town’s main artery connecting to Bay City and Standish. Fifth Street, also Pinconning Road, connects to Interstate-75/US-23, providing locals and tourists easy highway access. Pinconning Road also leads to Bay County Pinconning Park, a popular destination on Saginaw Bay offering miles of boardwalks and trails, sandy beaches, a 62-site campground, log cabin rentals, kayak rentals, observation towers and decks, and endless wildlife and bird viewing opportunities. The park also has a boat launch for access to prime walleye fishing on the bay.

Pinconning is a community located in the Great Lakes Bay Region of Michigan, north of Bay City and Midland. Pinconning is dubbed as the “Gateway To The North” and is well known for it’s local Pinconning Cheese and Cheese Shops. There are 35,651 full-time residents with an average household income of nearly $67,000 within a 15-mile radius of the asset.

This Family Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Investment Highlights

  • New Construction Family Dollar Tree Combination Store Concept | 2023 Build-To-Suit
  • "Family Dollar Stores, INC." Lease Entity - Publicly-Traded (NYSE: DLTR / S&P: BBB) | Largest Small Box Discount Retailer in the U.S.
  • 10-Year Initial Double-Net Lease Term | Four Five-Year Options
  • Rent Increases: $0.50/SF in Each Option
  • Main & Main Location at Signalized Intersection | Two Ingress/Egress Points | Combined 16,458 VPD
  • Pinconning Famously Known as the "Cheese Capital of Michigan" for it's Local Pinconning Cheese & Cheese Shops
  • Two Miles from Bay County Pinconning Park & Saginaw Bay | Boardwalks, Tails, Beach, Campsites, Cabin & Kayak Rentals
  • 20 Miles North of Bay City

Exclusively Listed By

Discount

Family Dollar Tree | New Construction 2023

Listing Price: $1,875,000

Cap Rate
7.00%
Tenant Name
Family Dollar Tree
Years Remaining On Lease
9.3
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$178.57
Lease Type
Double Net
Rent Per Square Feet
$12.50

Investment Highlights

  • New Construction Family Dollar Tree Combination Store Concept | 2023 Build-To-Suit
  • "Family Dollar Stores, INC." Lease Entity - Publicly-Traded (NYSE: DLTR / S&P: BBB) | Largest Small Box Discount Retailer in the U.S.
  • 10-Year Initial Double-Net Lease Term | Four Five-Year Options
  • Rent Increases: $0.50/SF in Each Option
  • Main & Main Location at Signalized Intersection | Two Ingress/Egress Points | Combined 16,458 VPD
  • Pinconning Famously Known as the "Cheese Capital of Michigan" for it's Local Pinconning Cheese & Cheese Shops
  • Two Miles from Bay County Pinconning Park & Saginaw Bay | Boardwalks, Tails, Beach, Campsites, Cabin & Kayak Rentals
  • 20 Miles North of Bay City

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar Tree located at 500 S Mable Street in Pinconning, Michigan. Family Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year lease with four five-year options to renew. Each option will contain a $0.50 per square-foot rent increase. Family 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 16,300 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 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 on the corner of Mable and Fifth Street, at the center of town with two ingress/egress points. Mable Street (M-13) is the town’s main artery connecting to Bay City and Standish. Fifth Street, also Pinconning Road, connects to Interstate-75/US-23, providing locals and tourists easy highway access. Pinconning Road also leads to Bay County Pinconning Park, a popular destination on Saginaw Bay offering miles of boardwalks and trails, sandy beaches, a 62-site campground, log cabin rentals, kayak rentals, observation towers and decks, and endless wildlife and bird viewing opportunities. The park also has a boat launch for access to prime walleye fishing on the bay. Pinconning is a community located in the Great Lakes Bay Region of Michigan, north of Bay City and Midland. Pinconning is dubbed as the “Gateway To The North” and is well known for it’s local Pinconning Cheese and Cheese Shops. There are 35,651 full-time residents with an average household income of nearly $67,000 within a 15-mile radius of the asset. This Family Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Exclusively Listed By

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