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Family Dollar

301 N Main St, Andrews, TX 79714

Listing Price: $559,000

Cap Rate
7.25%
Tenant Name
Family Dollar
Years Remaining On Lease
3.3
Gross SF
9,000
Guarantor
Corporate Guarantee
Rentable SF
9,000
Price/Gross SF
$62.11
Lease Type
Double Net
Rent Per Square Feet
$4.72

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Family Dollar in Andrews, Texas. The property consists of a 9,000-square foot, freestanding building. There are approximately 3.3 years remaining on the current lease term, with 10 percent rental escalation scheduled in the next options. Family Dollar signed a five-year lease extension, showing their commitment to the site, which they have operated at for more than 27 years. The property is located at the signalized hard corner of North Main Street and NW Ave B. Andrews is a growing market with median household income increasing by 91% since 2000 within a five-mile radius. Surrounding retailers in the immediate area include O’Reilly Auto Parts, Porter’s, Hibbett Sports, Bealls, AutoZone, Sonic Drive-In, Bush’s Chicken, Cicis Pizza, McAlister’s Deli, Aaron’s and many more. Andrews tops Texas as one of the fastest-growing micropolitan areas, and Andrews County was the second fastest-growing county in the country between 2010 and 2015. Recent development includes renovations of the airport ($3 million) and city hall ($5 million); and construction of Andrews Loop 1910 ring road ($12.5 million), a new fire station ($2 million) and Permian Regional Medical Center ($60 million).

Investment Highlights

  • Family Dollar is Paying Below Market Rent of $4.72/Per Square Foot, Compared to Other Family Dollar Locations
  • Family Dollar has Operated at this Location for 27+ Years
  • The Property is Priced Well Below Replacement Cost at $62.11/Per Square Foot
  • Growing Market - 19.7% Population Growth Since 2010
  • Signalized Hard Corner Location in the Center of the City
  • 35 Miles from Downtown Odessa (Population of 119,702), the Primary City in the Odessa MSA

Exclusively Listed By

Listing Price: $559,000

Cap Rate
7.25%
Tenant Name
Family Dollar
Years Remaining On Lease
3.3
Gross SF
9,000
Guarantor
Corporate Guarantee
Rentable SF
9,000
Price/Gross SF
$62.11
Lease Type
Double Net
Rent Per Square Feet
$4.72

Investment Highlights

  • Family Dollar is Paying Below Market Rent of $4.72/Per Square Foot, Compared to Other Family Dollar Locations
  • Family Dollar has Operated at this Location for 27+ Years
  • The Property is Priced Well Below Replacement Cost at $62.11/Per Square Foot
  • Growing Market - 19.7% Population Growth Since 2010
  • Signalized Hard Corner Location in the Center of the City
  • 35 Miles from Downtown Odessa (Population of 119,702), the Primary City in the Odessa MSA

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Family Dollar in Andrews, Texas. The property consists of a 9,000-square foot, freestanding building. There are approximately 3.3 years remaining on the current lease term, with 10 percent rental escalation scheduled in the next options. Family Dollar signed a five-year lease extension, showing their commitment to the site, which they have operated at for more than 27 years. The property is located at the signalized hard corner of North Main Street and NW Ave B. Andrews is a growing market with median household income increasing by 91% since 2000 within a five-mile radius. Surrounding retailers in the immediate area include O’Reilly Auto Parts, Porter’s, Hibbett Sports, Bealls, AutoZone, Sonic Drive-In, Bush’s Chicken, Cicis Pizza, McAlister’s Deli, Aaron’s and many more. Andrews tops Texas as one of the fastest-growing micropolitan areas, and Andrews County was the second fastest-growing county in the country between 2010 and 2015. Recent development includes renovations of the airport ($3 million) and city hall ($5 million); and construction of Andrews Loop 1910 ring road ($12.5 million), a new fire station ($2 million) and Permian Regional Medical Center ($60 million).

Exclusively Listed By

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