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Family Dollar | Recent Lease Extension

1105 3rd Avenue, International Falls, MN 56649

Listing Price: $795,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
11,400
Lease Type
Double Net
Rent Per Square Feet
$6.27

Investment Overview

LOW RENT & PRICE POINT
• The subject property has a low rent which equates to a low price point of $795,000.

RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar Tree has been operating at this location since 2013 and recently extended the lease for an additional 5 years.
• Dollar Tree exercised their first option period and increased the rent in July 2023 which extended the lease through June 2028.
• There are over 4 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This lease extension & rent increase speaks to Dollar Tree's confidence and dedication to this market & location.
• Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include only Roof & Structure.
• There are 10% rent increases in each of the remaining four, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

INTERNATIONAL FALLS
• International falls is the county seat of Koochiching county and is located on the Rainy River directly across from Fort Frances in Ontario, Canada.
• There is a major U.S. Customs and Border Protection Port of Entry on the International Falls side of the toll bridge and a Canadian Customs entry point on the north side of the bridge.
• Nearly 900,000 vehicles cross the toll bridge each year and it is only 1 mile from this Family Dollar.
• The largest industries in International Falls, MN are Manufacturing, Retail Trade, and Health Care & Social Assistance.
• Home to Voyageurs National Park which supports over 250,000 visitors per year.

Investment Highlights

  • Low Rent & Price Point
  • Recently Extended Corporate NN Lease With Dollar Tree
  • Investment Grade Tenant
  • International Falls

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Financing By

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Family Dollar | Recent Lease Extension

Listing Price: $795,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
11,400
Lease Type
Double Net
Rent Per Square Feet
$6.27

Investment Highlights

  • Low Rent & Price Point
  • Recently Extended Corporate NN Lease With Dollar Tree
  • Investment Grade Tenant
  • International Falls

Investment Overview

LOW RENT & PRICE POINT • The subject property has a low rent which equates to a low price point of $795,000. RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE • This Family Dollar Tree has been operating at this location since 2013 and recently extended the lease for an additional 5 years. • Dollar Tree exercised their first option period and increased the rent in July 2023 which extended the lease through June 2028. • There are over 4 years remaining on a corporate guaranteed NN lease with Dollar Tree. • This lease extension & rent increase speaks to Dollar Tree's confidence and dedication to this market & location. • Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include only Roof & Structure. • There are 10% rent increases in each of the remaining four, 5-year option periods. INVESTMENT GRADE TENANT • Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB. • Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion. INTERNATIONAL FALLS • International falls is the county seat of Koochiching county and is located on the Rainy River directly across from Fort Frances in Ontario, Canada. • There is a major U.S. Customs and Border Protection Port of Entry on the International Falls side of the toll bridge and a Canadian Customs entry point on the north side of the bridge. • Nearly 900,000 vehicles cross the toll bridge each year and it is only 1 mile from this Family Dollar. • The largest industries in International Falls, MN are Manufacturing, Retail Trade, and Health Care & Social Assistance. • Home to Voyageurs National Park which supports over 250,000 visitors per year.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

Financing By

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