Family Dollar | 304 Mason St
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Family Dollar 304 Mason St
7,250 SF Retail Building Laurel, MS 39440 $1,458,457 ($201/SF) 7% Cap Rate
Investment Highlights
- Absolute NNN Lease | Zero Landlord Responsibilities
- Five Mile Population 28,873
- 6,799 Cars Per Day on Mason Street
- Signalized Hard Corner Location | Accessible From Both Streets
- 8,994 Cars Per Day on Sawmill Road
- Across the Street From 350,000 SF Sawmill Square Mall
Executive Summary
Fortis Net Lease is pleased to present this 7,250 SF. freestanding Family Dollar store located in Laurel, Mississippi. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. There are 5 years remaining on the primary term. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar Tree Stores, Inc. which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store is currently open with rent having commenced in February 2015.
This Family Dollar is highly visible as it is strategically positioned on the signalized corner of Sawmill Road (which sees 8,994 cars per day) and Mason Street (which sees 6,799 cars per day). The site can conveniently be accessed from both streets. The five mile population from the site is 28,873 while the one mile average household income is $57,921 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $102,080.
This Family Dollar is highly visible as it is strategically positioned on the signalized corner of Sawmill Road (which sees 8,994 cars per day) and Mason Street (which sees 6,799 cars per day). The site can conveniently be accessed from both streets. The five mile population from the site is 28,873 while the one mile average household income is $57,921 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $102,080.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
7,250 SF
Building Class
C
Year Built
2015
Price
$1,458,457
Price Per SF
$201
Cap Rate
7%
NOI
$102,080
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.15 AC
Opportunity Zone
Yes
Walk Score ®
Very Walkable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $106,225 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$106,225
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Family Dollar | 304 Mason St
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