Discount

Family Dollar | New Lease Extension

302 N White St, Whitakers, NC 27891

Listing Price: $1,019,000

Cap Rate
8.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.80
Gross SF
8,000
Guarantor
Corporate Guarantee
Rentable SF
8,000
Price/Gross SF
$127.38
Lease Type
Double Net
Rent Per Square Feet
$10.19

Investment Overview

The subject property is a 2012 construction Family Dollar store located in Whitakers, NC. The store is located in the middle of town and not far from the Cummins Rocky Mountain Engine Plane (“Cummins”). Cummins is a 1.2 million square foot plant that employs 1,800+/- people. It originally opened in 1981 and has produced over 4 million engines since. Family Dollar is signed to an initial 10-year double-net (NN) lease that commenced in 2012. They just signed an extension of the initial lease term, indicating their level of comfort in this location. The lease is now not scheduled to expire until June, 2025. Rent is scheduled to increase by 10% at the beginning of each of the 5 remaining 5-year renewal options.

Investment Highlights

  • EARLY EXTENDED LEASE | 5+/- YEARS REMAINING
  • DOUBLE-NET (NN) LEASE | MINIMAL LANDLORD RESPONSIBILITIES
  • TENANT PAYS FOR CAM, TAXES AND INSURANCE EXPENSES
  • 10% RENTAL INCREASES EVERY 5 YEARS GOING FORWARD
  • WHITAKERS IS HOME TO THE CUMMINS ROCKY MOUNTAIN ENGINE PLANT | EMPLOYS 1,800+/- PEOPLE
  • GUARANTY FROM FAMILY DOLLAR STORES, INC.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Discount

Family Dollar | New Lease Extension

Listing Price: $1,019,000

Cap Rate
8.00%
Tenant Name
Family Dollar
Years Remaining On Lease
4.80
Gross SF
8,000
Guarantor
Corporate Guarantee
Rentable SF
8,000
Price/Gross SF
$127.38
Lease Type
Double Net
Rent Per Square Feet
$10.19

Investment Highlights

  • EARLY EXTENDED LEASE | 5+/- YEARS REMAINING
  • DOUBLE-NET (NN) LEASE | MINIMAL LANDLORD RESPONSIBILITIES
  • TENANT PAYS FOR CAM, TAXES AND INSURANCE EXPENSES
  • 10% RENTAL INCREASES EVERY 5 YEARS GOING FORWARD
  • WHITAKERS IS HOME TO THE CUMMINS ROCKY MOUNTAIN ENGINE PLANT | EMPLOYS 1,800+/- PEOPLE
  • GUARANTY FROM FAMILY DOLLAR STORES, INC.

Investment Overview

The subject property is a 2012 construction Family Dollar store located in Whitakers, NC. The store is located in the middle of town and not far from the Cummins Rocky Mountain Engine Plane (“Cummins”). Cummins is a 1.2 million square foot plant that employs 1,800+/- people. It originally opened in 1981 and has produced over 4 million engines since. Family Dollar is signed to an initial 10-year double-net (NN) lease that commenced in 2012. They just signed an extension of the initial lease term, indicating their level of comfort in this location. The lease is now not scheduled to expire until June, 2025. Rent is scheduled to increase by 10% at the beginning of each of the 5 remaining 5-year renewal options.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

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