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Family Dollar | Across From Home Depot

10130 W Seven Mile Rd, Detroit, MI 48221

Listing Price: $1,614,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
2.7
Guarantor
Corporate Guarantee
Rentable SF
9,180
Lease Type
Double Net
Rent Per Square Feet
$15.82

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 30th out of 297 Family Dollars in the state.

ADJACENT TO 3RD MOST VISITED HOME DEPOT IN MICHIGAN
• The subject property is adjacent to a Home Depot that sees 965.5K customers per year.
• This Home Depot is the 3rd most visited Home Depot in Michigan and is in the top 97%. (Placer.ai)
• It ranks in the top 89% in the country.

SUPERIOR DEMOS: 5 MILE POPULATION: 415,125
• This Family Dollar is positioned in a dense residential infill with 415,125 people in a 5 mile radius.
• There are 169,033 households within 5 miles of this store.

HIGH TRAFFIC COUNTS (19,350 VPD)
• Located off Hwy 10 (80,060 VPD) on W Seven Mile Rd which sees 19,350 vehicles per day.

RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2012 and recently extended the lease for 5 years.
• Family Dollar exercised the first option period in 2022 which extended the lease through January 2027 and increased the rent 10%.
• There are about 3 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension and rent increase speak to Family Dollar's confidence and dedication to this market & location.
• Tenant is responsible for parking lot repairs/replacement ( = $1,000), taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include Roof & Structure and parking lot repairs/ replacement ( > $1,000)
• There are 10% rent increases in each of the remaining three, 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)
  • Adjacent To 3rd Most Visited Home Depot In Michigan
  • Superior Demos: 5 Mile Population: 415,125
  • 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 | Across From Home Depot

Listing Price: $1,614,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
2.7
Guarantor
Corporate Guarantee
Rentable SF
9,180
Lease Type
Double Net
Rent Per Square Feet
$15.82

Investment Highlights

  • Top Performing Family Dollar (Top 90% Location)
  • Adjacent To 3rd Most Visited Home Depot In Michigan
  • Superior Demos: 5 Mile Population: 415,125
  • 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 30th out of 297 Family Dollars in the state. ADJACENT TO 3RD MOST VISITED HOME DEPOT IN MICHIGAN • The subject property is adjacent to a Home Depot that sees 965.5K customers per year. • This Home Depot is the 3rd most visited Home Depot in Michigan and is in the top 97%. (Placer.ai) • It ranks in the top 89% in the country. SUPERIOR DEMOS: 5 MILE POPULATION: 415,125 • This Family Dollar is positioned in a dense residential infill with 415,125 people in a 5 mile radius. • There are 169,033 households within 5 miles of this store. HIGH TRAFFIC COUNTS (19,350 VPD) • Located off Hwy 10 (80,060 VPD) on W Seven Mile Rd which sees 19,350 vehicles per day. RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE • This Family Dollar has been operating at this location since 2012 and recently extended the lease for 5 years. • Family Dollar exercised the first option period in 2022 which extended the lease through January 2027 and increased the rent 10%. • There are about 3 years remaining on a corporate guaranteed NN lease with Dollar Tree. • This extension and rent increase speak to Family Dollar's confidence and dedication to this market & location. • Tenant is responsible for parking lot repairs/replacement ( = $1,000), taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include Roof & Structure and parking lot repairs/ replacement ( > $1,000) • There are 10% rent increases in each of the remaining three, 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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