Discount
Family Dollar
5364 Redbud Hwy, Honaker, VA 24260
Listing Price: $482,000
Investment Overview
TOP PERFORMING FAMILY DOLLAR WITHIN 30 MILES
• The subject property is the top performing Family Dollar within a 30 mile radius and supports 117,000 Customers per year (Placer.ai)
LOW RENT & PRICE POINT LOCATION WITH ATTRACTIVE 9.50% RETURN
• The subject property has a low rent which equates to a low price point of $482,000.
• Attractive 9.50% return on an investment grade corporate guaranteed lease with Family Dollar.
INVESTMENT GRADE TENANT (S&P: BBB)
• 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.
RECENTLY EXTENDED CORPORATE NN LEASE
• This Family Dollar has been operating successfully at this location since 2004 and recently extended the lease for an additional 5 years through June 2029 and increased the rent per the lease.
• This lease extension & rent increase speaks to Family Dollar's confidence and dedication to this market & location.
• Tenant is responsible for parking lot repairs = $1,000, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include only Roof & Structure and Parking lot repairs >$1000.
• There are 10% rent increases in each of the remaining two, 5-year option periods.
CLOSE PROXIMITY TO RETAIL CORRIDOR
• Richlands & Claypool Hill, VA are 15 miles northeast of Honaker off Highway 19 (9,700 VPD)
• National Retailers in Richlands & Claypool Hill include Lowe’s Home Improvement, Walmart, Big Lots, Food Lion, Tractor Supply, Goodwill and more.
• Clinch Valley Medical Center is located in Richlands and has 175 beds with 500 employees.
GATEWAY TO THE APPALACHIAN TRAIL | 3 MILLION VISTORS PER YEAR
• Honaker is located in the foothills of the Appalachian's and is just 25 miles from the Appalachian Trial.
• Virginia is home to the most extended section of the Appalachian trail which sees over 3 million outdoor enthusiasts per year.
• The natural beauty of the Appalachians along with the rich history of Honaker, VA makes tourism a year-round economic driver.
Investment Highlights
- Top Performing Family Dollar Within 30 Miles
- Low Rent & Price Point Location With Attractive 9.50% Return
- Recently Extended Corporate NN Lease
- Close Proximity To Retail Corridor
- Gateway To The Appalachian Trail | 3 Million Visitors Per Year
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager
Financing By
Listing Price: $482,000
Investment Highlights
- Top Performing Family Dollar Within 30 Miles
- Low Rent & Price Point Location With Attractive 9.50% Return
- Recently Extended Corporate NN Lease
- Close Proximity To Retail Corridor
- Gateway To The Appalachian Trail | 3 Million Visitors Per Year
Investment Overview
TOP PERFORMING FAMILY DOLLAR WITHIN 30 MILES • The subject property is the top performing Family Dollar within a 30 mile radius and supports 117,000 Customers per year (Placer.ai) LOW RENT & PRICE POINT LOCATION WITH ATTRACTIVE 9.50% RETURN • The subject property has a low rent which equates to a low price point of $482,000. • Attractive 9.50% return on an investment grade corporate guaranteed lease with Family Dollar. INVESTMENT GRADE TENANT (S&P: BBB) • 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. RECENTLY EXTENDED CORPORATE NN LEASE • This Family Dollar has been operating successfully at this location since 2004 and recently extended the lease for an additional 5 years through June 2029 and increased the rent per the lease. • This lease extension & rent increase speaks to Family Dollar's confidence and dedication to this market & location. • Tenant is responsible for parking lot repairs = $1,000, taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include only Roof & Structure and Parking lot repairs >$1000. • There are 10% rent increases in each of the remaining two, 5-year option periods. CLOSE PROXIMITY TO RETAIL CORRIDOR • Richlands & Claypool Hill, VA are 15 miles northeast of Honaker off Highway 19 (9,700 VPD) • National Retailers in Richlands & Claypool Hill include Lowe’s Home Improvement, Walmart, Big Lots, Food Lion, Tractor Supply, Goodwill and more. • Clinch Valley Medical Center is located in Richlands and has 175 beds with 500 employees. GATEWAY TO THE APPALACHIAN TRAIL | 3 MILLION VISTORS PER YEAR • Honaker is located in the foothills of the Appalachian's and is just 25 miles from the Appalachian Trial. • Virginia is home to the most extended section of the Appalachian trail which sees over 3 million outdoor enthusiasts per year. • The natural beauty of the Appalachians along with the rich history of Honaker, VA makes tourism a year-round economic driver.
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager