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Family Dollar

609 N Ben Jordan St, Victoria, TX 77901

Listing Price: $645,160

Cap Rate
7.75%
Tenant Name
Family Dollar
Years Remaining On Lease
2.5
Gross SF
9,180
Guarantor
Corporate Guarantee
Rentable SF
9,180
Price/Gross SF
$70.28
Lease Type
Double Net
Rent Per Square Feet
$5.45

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Family Dollar located at 609 N Ben Jordan St. located in Victoria, Texas. The investment is being offered at $645,160 which represents a 7.75% cap rate. The 9,180 sq. ft. building is strategically located in Victoria, Texas. The Double Net lease has 2.7 years remaining due to a recent lease extension. There are (6) 5-year lease renewal options with a 10%-12% rental increase and a 3% percentage rent clause for sales in excess of $1,666,668 annual gross sales. The tenant is responsible for HVAC repairs and maintenance. The landlord is responsible for Roof, Structure, and Parking Lot. Victoria, Texas is known as the "The Crossroads" because it is located within a 2-hour drive of Houston, San Antonio, Austin, and Corpus Christi. The subject property is on a hard corner four-lane intersection that sees over 11,000 vehicles per day. It is within walking distance from Victoria Community Center which hosts communal events year-round and just 1 mile from the University of Houston- Victoria with a student body of over 3,200. There is a population of over 61,000 residents within 5 miles of the subject property, and the population is projected to grow by 1.8% through 2025.

Investment Highlights

  • NN Lease - 2.7 years remaining
  • (6) 5-year options to renew with 10-12% rental increases
  • There is a population of over 61,000 residents with 5 miles; the population is projected to grow by 1.8% through 2025
  • There are over 11,000 vehicles per day passing the site
  • Strategically located on a coveted four-lane hard corner intersection
  • Close proximity to Victoria Community Center, and the University of Houston- Victoria
  • Nearby other national credit tenants include Metro PCS, Wells Fargo, KFC, Burger King, Popeyes, Walmart, Advanced Auto Parts, HEB, Little Ceasers, Jack in the Box, Goodwill, and more.
  • Family Dollar is paying a below-market rent of $5.45 vs. $14.69 market rent

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Listing Price: $645,160

Cap Rate
7.75%
Tenant Name
Family Dollar
Years Remaining On Lease
2.5
Gross SF
9,180
Guarantor
Corporate Guarantee
Rentable SF
9,180
Price/Gross SF
$70.28
Lease Type
Double Net
Rent Per Square Feet
$5.45

Investment Highlights

  • NN Lease - 2.7 years remaining
  • (6) 5-year options to renew with 10-12% rental increases
  • There is a population of over 61,000 residents with 5 miles; the population is projected to grow by 1.8% through 2025
  • There are over 11,000 vehicles per day passing the site
  • Strategically located on a coveted four-lane hard corner intersection
  • Close proximity to Victoria Community Center, and the University of Houston- Victoria
  • Nearby other national credit tenants include Metro PCS, Wells Fargo, KFC, Burger King, Popeyes, Walmart, Advanced Auto Parts, HEB, Little Ceasers, Jack in the Box, Goodwill, and more.
  • Family Dollar is paying a below-market rent of $5.45 vs. $14.69 market rent

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Family Dollar located at 609 N Ben Jordan St. located in Victoria, Texas. The investment is being offered at $645,160 which represents a 7.75% cap rate. The 9,180 sq. ft. building is strategically located in Victoria, Texas. The Double Net lease has 2.7 years remaining due to a recent lease extension. There are (6) 5-year lease renewal options with a 10%-12% rental increase and a 3% percentage rent clause for sales in excess of $1,666,668 annual gross sales. The tenant is responsible for HVAC repairs and maintenance. The landlord is responsible for Roof, Structure, and Parking Lot. Victoria, Texas is known as the "The Crossroads" because it is located within a 2-hour drive of Houston, San Antonio, Austin, and Corpus Christi. The subject property is on a hard corner four-lane intersection that sees over 11,000 vehicles per day. It is within walking distance from Victoria Community Center which hosts communal events year-round and just 1 mile from the University of Houston- Victoria with a student body of over 3,200. There is a population of over 61,000 residents within 5 miles of the subject property, and the population is projected to grow by 1.8% through 2025.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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