Discount

Family Dollar

656 Highland St., Memphis, TN 38111

Listing Price: $1,550,000

Cap Rate
7.08%
Tenant Name
Family Dollar
Years Remaining On Lease
6.30
Gross SF
7,842
Guarantor
Corporate Guarantee
Rentable SF
7,842
Price/Gross SF
$197.65
Lease Type
Double Net
Rent Per Square Feet
$14.00

Investment Overview

Marcus & Millichap Net Leased Properties Group presents the opportunity to acquire the Fee Simple Interest to 656 Highland Street in Memphis TN. The Property built in 2011 consists of a 7,842 square foot full masonry & steel construction building resting on .64 acres that was Build to Suit in 2011 for Family Dollar.

The Property has a 5 year NN Lease is corporately guaranteed by Dollar Tree, Inc, trading under "DLTR" symbol on Nasdaq. The Lease currently has 6.5 years remaining on the Base Term at a rate of $109,800/annually with Four (4) FIve (5) Year options to renew at 10% rental increases during each period. The current rent is $14 per sf in an $18.21 psf submarket, making the rent highly replaceable.

The Property is located in close proximity to University of Memphis and the Memphis Country Club on the Highland strip. The Highland Strip is the restaurant and shopping hub in the Normal station neighborhood situated on the western border of the neighborhood. There is live music regularly at Newby's Memphis and The Bluff. This is a local gathering place for many U of M students.in the There are over 100,000 Population within a 3 mile radius and Daytime population over 48,000 and 23,000 vehicles per day on Highland St, making this a very strong Family Dollar location with above average sales and low rent to sales ratio.

National Chains in the neighborhood include McDonald's, KFC, Wendy's, Cook Out and Circle K and close proximity to the University of Memphis.

Investment Highlights

  • Freestanding Family Dollar located in Memphis, TN
  • Corporate Guaranteed Lease by Dollar Tree, Inc | S&P Rated BBB-
  • Densely Populated |100,376 within a 3 mile radius of the Property
  • Daytime Population over 48,000
  • Traffic Counts of 23,000 vehicles per day
  • Strong Historical Store Sales | Low Rent:Sales Ratio

Exclusively Listed By

Financing By

Listing Price: $1,550,000

Cap Rate
7.08%
Tenant Name
Family Dollar
Years Remaining On Lease
6.30
Gross SF
7,842
Guarantor
Corporate Guarantee
Rentable SF
7,842
Price/Gross SF
$197.65
Lease Type
Double Net
Rent Per Square Feet
$14.00

Investment Highlights

  • Freestanding Family Dollar located in Memphis, TN
  • Corporate Guaranteed Lease by Dollar Tree, Inc | S&P Rated BBB-
  • Densely Populated |100,376 within a 3 mile radius of the Property
  • Daytime Population over 48,000
  • Traffic Counts of 23,000 vehicles per day
  • Strong Historical Store Sales | Low Rent:Sales Ratio

Investment Overview

Marcus & Millichap Net Leased Properties Group presents the opportunity to acquire the Fee Simple Interest to 656 Highland Street in Memphis TN. The Property built in 2011 consists of a 7,842 square foot full masonry & steel construction building resting on .64 acres that was Build to Suit in 2011 for Family Dollar.

The Property has a 5 year NN Lease is corporately guaranteed by Dollar Tree, Inc, trading under "DLTR" symbol on Nasdaq. The Lease currently has 6.5 years remaining on the Base Term at a rate of $109,800/annually with Four (4) FIve (5) Year options to renew at 10% rental increases during each period. The current rent is $14 per sf in an $18.21 psf submarket, making the rent highly replaceable.

The Property is located in close proximity to University of Memphis and the Memphis Country Club on the Highland strip. The Highland Strip is the restaurant and shopping hub in the Normal station neighborhood situated on the western border of the neighborhood. There is live music regularly at Newby's Memphis and The Bluff. This is a local gathering place for many U of M students.in the There are over 100,000 Population within a 3 mile radius and Daytime population over 48,000 and 23,000 vehicles per day on Highland St, making this a very strong Family Dollar location with above average sales and low rent to sales ratio.

National Chains in the neighborhood include McDonald's, KFC, Wendy's, Cook Out and Circle K and close proximity to the University of Memphis.

Exclusively Listed By

Financing By

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