Deals
Family Dollar – Richmond, VA
THE OPPORTUNITY
- NN Lease
- Family Dollar Corporate Lease – NASDAQ: DLTR
- Credit Rating: S&P: BBB-, Moody’s: Baa2
- Current term expiration of 12/31/25
- Categorized as Essential Retailer
- Pandemic and Recession Proof
- Rare opportunity to invest in a Family Dollar in Richmond, VA
- Family Dollar operates 8,200+ locations and 14,800+ combined locations under DLTR in 48 states
- No rent relief requested throughout 2020
- 10% Rent escalations in the Lease Options
- Two 5-year options
- LL Responsibilities
- Roof, Structure, parking lot replacement
- Low Price Point under $2mm
THE HIGHLIGHTS
- Property is located on the primary commercial corridor in the Richmond, VA market
- Strong traffic counts with over 22,907 cars daily
- Centrally located within the Richmond MSA
- Close proximity to Interstate 64 and Interstate 95, 2.2 miles
- Strong demographics
- 1 Mile Population: 13,043
- 3 Mile Population: 98,486
- Constructed in 2005
- Population within 5 miles is 234,078
- Great visibility and access from Laburnum Ave
- Access of E Laburnum Ave and Waddey St
- An abundance of parking with 32 total parks
THE DEAL POINTS
- Square Feet: 8,000 SF
- Asking Cap Rate: 6.00%
- Asking Price: $1,885,583
- Year Built: 2005
- NOI: $113,135
- Lease Structure: NN