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Family Dollar

117-10 Guy R Brewer Blvd, Queens, NY 11433

Listing Price: $5,000,000

Cap Rate
5.45%
Tenant Name
Family Dollar
Years Remaining On Lease
5.3
Guarantor
Corporate Guarantee
Rentable SF
8,885
Lease Type
Modified Gross
Rent Per Square Feet
$33.99

Investment Overview

The subject offering is an 8,885-square foot single tenant net-leased Family Dollar store on Guy R Brewer Blvd in Jamaica (Queens), NY. Family Dollar has been at this location since 2012 (lease was executed in 2011), and they recently just exercised their first renewal option to extend the lease through March 31, 2027. Family Dollar has two additional five (5) year options to extend, with 10 percent rental increases in each option period. The subject property is built full on a, 8,885 SF lot, with 85 feet of retail frontage along Guy R Brewer Blvd. Family Dollar is responsible for paying the property taxes above their base-year (2010/2011). The landlord is responsible for paying the base year taxes, as well as paying the insurance and all repairs/maintenance to roof and structure. The property benefits from a 25-year ICAP Tax Abatement that runs through June 30, 2041. Family Dollar has more than 8,000 stores in 46 states. There is corporate guarantee in place from Dollar Tree (NASDAQ: DLTR), which purchased Family Dollar in 2015. The combined entity now has 15,000+ stores and did $23 Billion in revenue last year. They recorded a 21 percent growth in sales last year. Guy R Brewer is a main street in South Queens. The property is surrounded by local retailers, as well as thousands of housing units. This is the rare opportunity to purchase a net-leased, minimal management retail asset with a credit tenant in New York City.

Investment Highlights

  • 8,885 SF Single-Tenant Net-Leased Retail Opportunity
  • Rare NYC Net-Leased Deal - New Construction in 2012
  • Lease Through 2027 and Two (5) Five-Year Options to Renew

Exclusively Listed By

Listing Price: $5,000,000

Cap Rate
5.45%
Tenant Name
Family Dollar
Years Remaining On Lease
5.3
Guarantor
Corporate Guarantee
Rentable SF
8,885
Lease Type
Modified Gross
Rent Per Square Feet
$33.99

Investment Highlights

  • 8,885 SF Single-Tenant Net-Leased Retail Opportunity
  • Rare NYC Net-Leased Deal - New Construction in 2012
  • Lease Through 2027 and Two (5) Five-Year Options to Renew

Investment Overview

The subject offering is an 8,885-square foot single tenant net-leased Family Dollar store on Guy R Brewer Blvd in Jamaica (Queens), NY. Family Dollar has been at this location since 2012 (lease was executed in 2011), and they recently just exercised their first renewal option to extend the lease through March 31, 2027. Family Dollar has two additional five (5) year options to extend, with 10 percent rental increases in each option period. The subject property is built full on a, 8,885 SF lot, with 85 feet of retail frontage along Guy R Brewer Blvd. Family Dollar is responsible for paying the property taxes above their base-year (2010/2011). The landlord is responsible for paying the base year taxes, as well as paying the insurance and all repairs/maintenance to roof and structure. The property benefits from a 25-year ICAP Tax Abatement that runs through June 30, 2041. Family Dollar has more than 8,000 stores in 46 states. There is corporate guarantee in place from Dollar Tree (NASDAQ: DLTR), which purchased Family Dollar in 2015. The combined entity now has 15,000+ stores and did $23 Billion in revenue last year. They recorded a 21 percent growth in sales last year. Guy R Brewer is a main street in South Queens. The property is surrounded by local retailers, as well as thousands of housing units. This is the rare opportunity to purchase a net-leased, minimal management retail asset with a credit tenant in New York City.

Exclusively Listed By

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