DEALS

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

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