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Family Dollar | Top Performing Store (Top 90%)

3480 Pierson Rd, Flint, MI 48504

Listing Price: $1,265,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
17,857
Lease Type
Double Net
Rent Per Square Feet
$6.38

Investment Overview

TOP PERFORMING FAMILY DOLLAR (TOP 90% LOCATION)
• This Family Dollar ranks in the top 90% of Family Dollar locations in the country and in Michigan (Placer.ai)
• According to Placer.ai, 75K customers visit this store per year which ranks this Family Dollar 27th out of 297 Family Dollars in the state.

INTERSTATE LOCATION (73,748 VPD)
• The subject property is located directly off Interstate 75 (73,748 VPD) on Pierson Rd (15,135 VPD).
• Surrounding national retailers on Pierson Rd include Home Depot, Kroger, ALDI, Tractor Supply, and more.

5 MILE POPULATION: 116,175
• This Family Dollar is located in a dense residential infill with 116,175 people in a 5 mile radius.

RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2014 and recently extended the lease for 5 years.
• Family Dollar exercised the first option period in October 2023 which extended the lease through September 2028 and increased the rent 10%.
• There are 4.5 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension and rent increase speak to Family Dollars 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.

Investment Highlights

  • Top Performing Family Dollar (Top 90% Location)
  • Interstate Location (73,728 VPD)
  • 5 Mile Population: 116,175
  • Recently Extended Corporate NN Lease With Dollar Tree
  • Investment Grade Tenant

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Discount

Family Dollar | Top Performing Store (Top 90%)

Listing Price: $1,265,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
17,857
Lease Type
Double Net
Rent Per Square Feet
$6.38

Investment Highlights

  • Top Performing Family Dollar (Top 90% Location)
  • Interstate Location (73,728 VPD)
  • 5 Mile Population: 116,175
  • Recently Extended Corporate NN Lease With Dollar Tree
  • Investment Grade Tenant

Investment Overview

TOP PERFORMING FAMILY DOLLAR (TOP 90% LOCATION) • This Family Dollar ranks in the top 90% of Family Dollar locations in the country and in Michigan (Placer.ai) • According to Placer.ai, 75K customers visit this store per year which ranks this Family Dollar 27th out of 297 Family Dollars in the state. INTERSTATE LOCATION (73,748 VPD) • The subject property is located directly off Interstate 75 (73,748 VPD) on Pierson Rd (15,135 VPD). • Surrounding national retailers on Pierson Rd include Home Depot, Kroger, ALDI, Tractor Supply, and more. 5 MILE POPULATION: 116,175 • This Family Dollar is located in a dense residential infill with 116,175 people in a 5 mile radius. RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE • This Family Dollar has been operating at this location since 2014 and recently extended the lease for 5 years. • Family Dollar exercised the first option period in October 2023 which extended the lease through September 2028 and increased the rent 10%. • There are 4.5 years remaining on a corporate guaranteed NN lease with Dollar Tree. • This extension and rent increase speak to Family Dollars 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.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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