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Family Dollar | Dollar Tree - New 2021 Construction

1960 N St Helen Rd, Saint Helen, MI 48656

Listing Price: $1,768,846

Cap Rate
6.50%
Tenant Name
Family Dollar | Dollar Tree
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,500
Lease Type
Double Net
Rent Per Square Feet
$10.95

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar | Dollar Tree located at 1960 North Saint Helen Road in Saint Helen, Michigan. Construction is set to be completed by December 1st, 2021 and rent will commence January 6th, 2022. This 10,500-square-foot building is situated on a 1.75-acre lot, with entrances off both North Saint Helen Road and Airport Road. Family Dollar | Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year double-net lease with four five-year options to renew. Family Dollar | Dollar Tree is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree acquired Family Dollar, Inc in July 2015. Together they are considered the nation’s largest small box discount retailer, operating over 14,000 stores nationwide. Family Dollar operates under a landlord friendly net-lease structure. As a result, freestanding Family Dollar retail stores provide an attractive combination of a long-term lease and a growing market concept that continues to capture value conscious shoppers, which boosts store productivity. The average size of a Family Dollar store is between 6,000 and 8,000 square feet, and most stores are operated in leased facilities. This relatively small footprint allows the company to open new stores in rural areas and small towns, as well as in large urban neighborhoods. A general floor plan used in each of the stores allows customers to easily shop for their favorite products in any Family Dollar store. With the stores uniformly laid out and stocked, store managers are able to focus on providing good customer service. This concept for a self-serve, cash and carry neighborhood discount store in low to middle income neighborhoods. The subject property is well-positioned on North Saint Helen Road in the middle of downtown. This Family Dollar | Dollar Tree benefits from its ability to serve local residents as it is one of only two dollar stores within a fourteen-mile radius. The property also benefits from being within a half mile Charlton Heston Academy. It has a total enrollment of over 484 students. Saint Helen is an unincorporated community in Roscommon County. Saint Helen, which was named after the lake is located 20 miles Northwest of Houghton Lake, Michigan’s largest inland lake. Saint Helen is situated in the Northern half of Michigan. 78 miles Southeast of Traverse City and 170 miles Northwest of Detroit. The building is situated three miles from Interstate-75, which sees in excess of 14,173 vehicles per day. This Family Dollar | Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Investment Highlights

  • New Family Dollar | Dollar Tree Combination Store Concept
  • Lease Guarantee From Family Dollar Stores, INC.
  • 10-Year Initial Double Net Lease Term | Four Five-Year Options
  • Brand New High Quality 2021 Construction | Rent Commences: January 6th, 2022

Exclusively Listed By

Discount

Family Dollar | Dollar Tree - New 2021 Construction

Listing Price: $1,768,846

Cap Rate
6.50%
Tenant Name
Family Dollar | Dollar Tree
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,500
Lease Type
Double Net
Rent Per Square Feet
$10.95

Investment Highlights

  • New Family Dollar | Dollar Tree Combination Store Concept
  • Lease Guarantee From Family Dollar Stores, INC.
  • 10-Year Initial Double Net Lease Term | Four Five-Year Options
  • Brand New High Quality 2021 Construction | Rent Commences: January 6th, 2022

Investment Overview

Marcus & Millichap is pleased to present the newly constructed, corporate, Dual Concept Family Dollar | Dollar Tree located at 1960 North Saint Helen Road in Saint Helen, Michigan. Construction is set to be completed by December 1st, 2021 and rent will commence January 6th, 2022. This 10,500-square-foot building is situated on a 1.75-acre lot, with entrances off both North Saint Helen Road and Airport Road. Family Dollar | Dollar Tree (Standard & Poor’s BBB STABLE) executed a new 10-year double-net lease with four five-year options to renew. Family Dollar | Dollar Tree is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree acquired Family Dollar, Inc in July 2015. Together they are considered the nation’s largest small box discount retailer, operating over 14,000 stores nationwide. Family Dollar operates under a landlord friendly net-lease structure. As a result, freestanding Family Dollar retail stores provide an attractive combination of a long-term lease and a growing market concept that continues to capture value conscious shoppers, which boosts store productivity. The average size of a Family Dollar store is between 6,000 and 8,000 square feet, and most stores are operated in leased facilities. This relatively small footprint allows the company to open new stores in rural areas and small towns, as well as in large urban neighborhoods. A general floor plan used in each of the stores allows customers to easily shop for their favorite products in any Family Dollar store. With the stores uniformly laid out and stocked, store managers are able to focus on providing good customer service. This concept for a self-serve, cash and carry neighborhood discount store in low to middle income neighborhoods. The subject property is well-positioned on North Saint Helen Road in the middle of downtown. This Family Dollar | Dollar Tree benefits from its ability to serve local residents as it is one of only two dollar stores within a fourteen-mile radius. The property also benefits from being within a half mile Charlton Heston Academy. It has a total enrollment of over 484 students. Saint Helen is an unincorporated community in Roscommon County. Saint Helen, which was named after the lake is located 20 miles Northwest of Houghton Lake, Michigan’s largest inland lake. Saint Helen is situated in the Northern half of Michigan. 78 miles Southeast of Traverse City and 170 miles Northwest of Detroit. The building is situated three miles from Interstate-75, which sees in excess of 14,173 vehicles per day. This Family Dollar | Dollar Tree provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

Exclusively Listed By

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