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Family Dollar | New Construction 2024

5035 E Berry Rd, Pleasant Lake, MI 49272

Listing Price: $1,612,745

Cap Rate
7.65%
Tenant Name
Family Dollar
Years Remaining On Lease
9.8
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$153.59
Lease Type
Double Net
Rent Per Square Feet
$11.75

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate Family Dollar located at 5035 E Berry Road in Pleasant Lake, Michigan. Family Dollar (Standard & Poor’s BBB STABLE) has an initial 10-year lease with five five-year options to renew. Each option will contain a $0.50 per square-foot rent increase. Family Dollar is subject to a corporately guaranteed double-net lease with limited landlord responsibilities.

Dollar Tree, Inc., ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores that have served North America for more than 63 years. Operating under the brands Dollar Tree and Family Dollar, the company is headquartered in Chesapeake, Virginia and operates nearly 16,500 stores across the 48 contiguous states and five Canadian provinces, supported by a coast-to-coast logistics network and more than 200,000 associates. In June 2015, Dollar Tree acquired Family Dollar Stores, Inc. and its’ more than 8,200 stores, which made Dollar Tree Inc, the leading operator of discount variety retail stores.

The subject property is well-positioned on E Berry Road with high visibility, and near the corner of Bunkehill Road. Bunkehill Road serves as a direct route to Jackson, providing easy commutes for residents. E Berry Road also serves as a main road and connects to US-127 (five miles away). This Family Dollar benefits from its ability to serve local residents as it is one of only two dollar stores in town and the next nearest being eight miles away.

Pleasant Lake / Henrietta Township is a community located in Jackson County of south-central Michigan. The asset is centrally located near larger markets including Jackson (nine miles), Lansing (30 miles), and Ann Arbor (35 miles).

This Family Dollar provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Investment Highlights

  • New Construction Family Dollar Store | 2024 Build-To-Suit
  • "Family Dollar Stores of Michigan, LLC" Lease Entity | Publicly-Traded (NYSE: DLTR / S&P: BBB) | Largest Small Box Discount Retailer in the U.S.
  • 10-Year Initial Double-Net Lease Term | (5) Five-Year Options
  • Rent Increases: $0.50/SF in Each Option
  • High Visibility on E Berry Road Near Corner of Bunkehill Road (9,830 VPD Combined) | Bunkehill Road Provides a Direct Route to Jackson
  • Limited Competition: One of Only Two Dollar Stores within Eight Miles
  • 9 Miles Northeast of Jackson
  • 30 Miles South of Lansing | 35 Miles Northwest of Ann Arbor

Exclusively Listed By

Discount

Family Dollar | New Construction 2024

Listing Price: $1,612,745

Cap Rate
7.65%
Tenant Name
Family Dollar
Years Remaining On Lease
9.8
Gross SF
10,500
Guarantor
Corporate Guarantee
Rentable SF
10,500
Price/Gross SF
$153.59
Lease Type
Double Net
Rent Per Square Feet
$11.75

Investment Highlights

  • New Construction Family Dollar Store | 2024 Build-To-Suit
  • "Family Dollar Stores of Michigan, LLC" Lease Entity | Publicly-Traded (NYSE: DLTR / S&P: BBB) | Largest Small Box Discount Retailer in the U.S.
  • 10-Year Initial Double-Net Lease Term | (5) Five-Year Options
  • Rent Increases: $0.50/SF in Each Option
  • High Visibility on E Berry Road Near Corner of Bunkehill Road (9,830 VPD Combined) | Bunkehill Road Provides a Direct Route to Jackson
  • Limited Competition: One of Only Two Dollar Stores within Eight Miles
  • 9 Miles Northeast of Jackson
  • 30 Miles South of Lansing | 35 Miles Northwest of Ann Arbor

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate Family Dollar located at 5035 E Berry Road in Pleasant Lake, Michigan. Family Dollar (Standard & Poor’s BBB STABLE) has an initial 10-year lease with five five-year options to renew. Each option will contain a $0.50 per square-foot rent increase. Family Dollar is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree, Inc., ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores that have served North America for more than 63 years. Operating under the brands Dollar Tree and Family Dollar, the company is headquartered in Chesapeake, Virginia and operates nearly 16,500 stores across the 48 contiguous states and five Canadian provinces, supported by a coast-to-coast logistics network and more than 200,000 associates. In June 2015, Dollar Tree acquired Family Dollar Stores, Inc. and its’ more than 8,200 stores, which made Dollar Tree Inc, the leading operator of discount variety retail stores. The subject property is well-positioned on E Berry Road with high visibility, and near the corner of Bunkehill Road. Bunkehill Road serves as a direct route to Jackson, providing easy commutes for residents. E Berry Road also serves as a main road and connects to US-127 (five miles away). This Family Dollar benefits from its ability to serve local residents as it is one of only two dollar stores in town and the next nearest being eight miles away. Pleasant Lake / Henrietta Township is a community located in Jackson County of south-central Michigan. The asset is centrally located near larger markets including Jackson (nine miles), Lansing (30 miles), and Ann Arbor (35 miles). This Family Dollar provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Exclusively Listed By

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