Investment Overview

Marcus & Millichap is excited to present this excellent and very interesting investment opportunity in southeast Dallas. The property boasts two national credit tenants and an ice maker that is located in the parking lot. Family Dollar and Autozone have been long term tenants, dating back to the late 1990's and early 2000's. Both tenants are on percentage rent leases and have multiple options of five years to renew. The property also includes a pad site that is just under an acre that is able to be developed and located on the northeast side of the building. This property was originally lease by Safeway Grocers in the 1960's, who then assigned their lease to Minyard's Market in the the early 1970's. As Minyard's began to decrease their footprint, they sublet 50 percent of the space to Autozone and then the other 50 percent to Family Dollar, creating a sub-sublease scenario. With the sub-subleases still in place and amendments to said sub-sublease are drawn up every five years to renew each tenants options, both Autozone and Family Dollar pay rent directly to owners. In regards to the percentage rent lease, historically, Family Dollar has been the tenant to surpass the sales required to payout the percentage rent year over year, while Autozone hits their numbers periodically.