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Family Dollar | Healthy Rent to Sales Ratio

1244 E McDevitt Ave, Jackson, MI 49203

Listing Price: $806,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
8,050
Lease Type
Double Net
Rent Per Square Feet
$9.01

Investment Overview

LOW RENT & PRICE POINT STORE WITH HEALTHY RENT TO SALES RATIO
• The subject property has a low rent that equates to a low price point of $806,000.
• This store has a healthy rent to sales ratio. Reach out to agent for store sales.

LOCATED DIRECTLY OFF HIGHWAY 127 (22,022 VPD)
• This property is located on E McDevitt Ave (10,383 VPD), directly off Hwy 127 (22,022 VPD).

JACKSON, MI
• Jackson is located one hour west of Detroit and is the county seat of Jackson County.
• A major employer in the city is CMS Energy which provides natural gas and electrical services to much of Michigan and has its international headquarters in the city.
• Other major employers are Henry Ford Health Systems and the Eaton Corporation.
• Colleges and Universities in Jackson include Jackson College, Baker College, and Spring Arbor University.
• An additional 15 higher education institutions are within one hour of Jackson.

RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2007 and recently extended the lease for 5 years.
• Family Dollar exercised their second lease extension in January 2023 which extended the lease through December 2027 and increased the rent 10%.
• There are 3.75 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 = $1,500), taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include Roof & Structure and Parking Lot (repairs > $1,500).
• There are 10% rent increases in each of the remaining five, 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

  • Low Rent & Price Point Store With Healthy Rent To Sales Ratio
  • Located Directly Off Highway 127 (22,022 VPD)
  • Jackson, MI
  • 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 | Healthy Rent to Sales Ratio

Listing Price: $806,000

Cap Rate
9.00%
Tenant Name
Family Dollar
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
8,050
Lease Type
Double Net
Rent Per Square Feet
$9.01

Investment Highlights

  • Low Rent & Price Point Store With Healthy Rent To Sales Ratio
  • Located Directly Off Highway 127 (22,022 VPD)
  • Jackson, MI
  • Recently Extended Corporate NN Lease With Dollar Tree
  • Investment Grade Tenant

Investment Overview

LOW RENT & PRICE POINT STORE WITH HEALTHY RENT TO SALES RATIO • The subject property has a low rent that equates to a low price point of $806,000. • This store has a healthy rent to sales ratio. Reach out to agent for store sales. LOCATED DIRECTLY OFF HIGHWAY 127 (22,022 VPD) • This property is located on E McDevitt Ave (10,383 VPD), directly off Hwy 127 (22,022 VPD). JACKSON, MI • Jackson is located one hour west of Detroit and is the county seat of Jackson County. • A major employer in the city is CMS Energy which provides natural gas and electrical services to much of Michigan and has its international headquarters in the city. • Other major employers are Henry Ford Health Systems and the Eaton Corporation. • Colleges and Universities in Jackson include Jackson College, Baker College, and Spring Arbor University. • An additional 15 higher education institutions are within one hour of Jackson. RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE • This Family Dollar has been operating at this location since 2007 and recently extended the lease for 5 years. • Family Dollar exercised their second lease extension in January 2023 which extended the lease through December 2027 and increased the rent 10%. • There are 3.75 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 = $1,500), taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include Roof & Structure and Parking Lot (repairs > $1,500). • There are 10% rent increases in each of the remaining five, 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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