Family Dollar-Net Leased

Retail-Commercial for Sale
Catylist Listing ID: 30779357
Property Subtypes: Convenience Store, Free-Standing Building, Street Retail
Building Size (RSF): 8,056 SF
Gross Land Area: 0.79 SF
Sale Price: $1,479,000
Unit Price: $183.59 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Family Dollar
Usable Size (USF): 8,056 SF
Sale Terms: Cash to Seller
Cap Rate: 7.75%
Average Occupancy Rate: 100
Last Updated: 1/22/2022

Overview / Comments

SVN / Investment Property Advisors is pleased to present this Net Leased
Family Dollar in Michigan's 2nd largest city-Grand Rapids MSA. Property has
240' of frontage on major commercial artery with nearby national retailers
including Walgreen's, Rite Aid, Advance Auto Parts, Chase Bank and Ace
Hardware, and close to US 131 interchange. Built to suit for Family Dollar.
Recent early lease renewal to September, 2024 showing satisfaction with
this location.

Financials

Finance Data Year 2021
Net Operating Income $114,637 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Family Dollar
Website URL familydollar.com
Industry Type Retail Trade
Is Renting? Yes
Lease Expiration 9/0030
Escalations 10%
Options Six 5 year renewal options with 10% increases
Tenant Notes Fortune 500 Investment Grade Tenant

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 36th/44th St Corridor
Tax ID/APN: 41-17-24-483-023
Zoning: COMMERCIAL
Retail Clientele: General, Business
Property Located Between: On 44th St between US 131 & Division
Property Visibility: Excellent
Largest Nearby Street: US 131
Feet of Frontage: 240
Highway Access: US 131
Site Description: Property has 240' of frontage on major commercial artery with nearby national retailers, including Walgreen's, Rite Aid, Advance Auto Parts, Chase Bank and Ace Hardware, and close to US 131 interchange.
Area Description: Property has 240' of frontage on major commercial artery with nearby national retailers, including Walgreen's, Rite Aid, Advance Auto Parts, Chase Bank and Ace Hardware, and close to US 131 interchange.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 8,056 SF
Property Condition: Good
Year Built: 2011
Roof Type: Gable
Construction/Siding: Block
Exterior Description: Architectural Split Block and Metal Sided

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,393 112,804 260,644
Median Age: 33.36 34.11 33.65
Households: 4,230 42,875 96,202
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