Family Dollar 602 Division St 7,980 SF Retail Building Biloxi, MS 39530 $967,272 ($121.21/SF) 8.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Family Dollar is an investment grade tenant with a BBB- rating from Standard & Poor’s.
- Family Dollar signed a 7-year lease extension starting January 2025, with three 5-year renewal options.
- This is the only dollar store east of Kessler Air Force Base, in a walkable neighborhood location.
- Located less than a mile from I-110, with 57,000 vehicles passing daily.
- Family Dollar has been at this location since 1989, with over 30 years of operating history.
- Located 1.3 miles from the Beau Rivage Resort & Casino and 2 miles from Keesler Air Force Base.
EXECUTIVE SUMMARY
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 7,980 square foot Family Dollar property located on a 0.55 acre parcel on Division Street in Biloxi, Mississippi. The tenant has been at this location since 1989 and recently extended its lease for an additional 7 years showing its success at and commitment to this site. The lease extension added three, five year options to renew with 10% rental increases in 2028 and each option period. The lease is corporately guaranteed by Family Dollar’s parent company, Dollar Tree, Inc., an investment grade credit tenant, rated BBB- by Standard & Poor’s.
The property has excellent frontage situated at the intersection of Division Street and Nichols Drive (6,000 VPD). The property is ideally located less than 1 mile from I-110 which sees 57,000 vehicles per day. This is a densely populated area with over 19,900 people within 3 miles and over 61,150 people within 5 miles of the property. This is an ideal demographic area for a dollar store tenant with average household incomes ranging from $52,700 in the 1-mile radius and $69,100 in the 3-mile radius.
Biloxi, MS is a vibrant city located on the Gulf Coast of Mississippi. It’s known for its strong economy, greatly supported by the Keesler Air Force Base and the Beau Rivage Resort and Casino. Keesler Air Force Base is located approximately 2 miles from the subject property and serves as a major employer, contributing to local businesses and infrastructure. Similarly, the Beau Rivage Resort and Casino is located just over 1 mile from Family Dollar and attracts tourists from around the world, stimulating the hospitality and entertainment sectors, thereby playing a significant role in boosting the city’s economy.
The property has excellent frontage situated at the intersection of Division Street and Nichols Drive (6,000 VPD). The property is ideally located less than 1 mile from I-110 which sees 57,000 vehicles per day. This is a densely populated area with over 19,900 people within 3 miles and over 61,150 people within 5 miles of the property. This is an ideal demographic area for a dollar store tenant with average household incomes ranging from $52,700 in the 1-mile radius and $69,100 in the 3-mile radius.
Biloxi, MS is a vibrant city located on the Gulf Coast of Mississippi. It’s known for its strong economy, greatly supported by the Keesler Air Force Base and the Beau Rivage Resort and Casino. Keesler Air Force Base is located approximately 2 miles from the subject property and serves as a major employer, contributing to local businesses and infrastructure. Similarly, the Beau Rivage Resort and Casino is located just over 1 mile from Family Dollar and attracts tourists from around the world, stimulating the hospitality and entertainment sectors, thereby playing a significant role in boosting the city’s economy.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,980 SF
Building Class
C
Year Built
1989
Price
$967,272
Price Per SF
$121.21
Cap Rate
8.25%
NOI
$79,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
0.55 AC
Zoning
C - Commercial
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1410G-05-047.001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $57,880 |
