DEALS

Deals

Family Dollar – Memphis, TN (E Raines Rd)

THE OPPORTUNITY

  • Net lease structure with minimal landlord responsibilities:
  • Roof, Structure
  • Family Dollar Corporate Guarantee
  • Long-term tenancy with more than 17 years of operating history
  • 2.5 Years remaining on current term
  • 10% rent increases at each 5-year option; next increase in 2.5 years
  • Recession-resistant national brand and operator with over 8,000 stores nationwide
  • Essential Retailer

THE HIGHLIGHTS

  • Great visibility near the high-traffic signalized intersection of Kirby Pkwy (25,000 VPD) and E Raines Rd (17,000 VPD)
  • Situated across from Kirby Middle/High School (1,500 students) in densely populated submarket
  • Two access points with full access from E Raines Rd
  • Situated at a lighted intersection
  • 2022 Population:
  • 1 Mile – 18,000
  • 3 Mile – 90,000​​

THE DEAL POINTS

  • Cap Rate: 6.00%
  • Price: $1,703,350
  • Year Built: 2005
  • NOI: $102,201
  • Occupancy: 100%
  • Square Footage: 9,180 SF

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