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Family Dollar NN Investment Opportunity 250 Taft Dr 10,500 SF Retail Building Spencer, TN 38585 $2,087,271 CAD ($198.79 CAD/SF) 8.10% Cap Rate
Investment Highlights
- Recession Resilient Tenant: Family Dollar is a proven discount retailer in a location with minimal retail, grocery, and consumer goods.
- Lease Structure: Limited Landlord responsibilities include roof, structure, parking lot capital expenses, and general liability insurance
- Corporate Guaranteed Lease: Corporate guaranteed 10-year NN lease through July 30, 2033, with five 5-year renewal options and $0.50/SF rent increases
- Recent Construction: 2023 built ±10,500 SF Family Dollar store on a ±1.25-acre parcel at a strategic corner location.
- Tenant responsibilities include grounds and general maintenance including HVAC system, liability insurance, and reimbursement of property tax
- Bull Realty Tennessee License #: 259046
Executive Summary
Family Dollar selected this site well! It sits at the intersection of four laned State Road 111 and Taft Drive in Spencer, TN. Built in 2023, the large ±10,500 SF store sits on ±1.25 acres. The Van Buren County Administrative Offices are across the street.
Family Dollar provides Spencer with value shopping of consumer and household items along with a limited grocery selection which is important to an area with most similar options at least 15 miles away.
Spencer, the county seat of Van Buren County, is equidistant between Nashville and Knoxville in eastern Tennessee. Known for nature and tourism, Spencer is nestled by Fall Creek Falls State Park, one of the highest falls in the Eastern US (over 256 feet) with over 26,000 acres of park land. The area is also becoming known for its growing tiny home communities. The population within a 10-mile radius is 11,416 with an average household income of $66,991. A downtown revitalization plan is underway.
The 10-year NN+ lease runs through July 31, 2033, with five 5-year renewal options. Landlord responsibilities are limited. Tenant responsibilities include all maintenance, including HVAC, liability insurance and full reimbursement of property insurance premium and property taxes to the Landlord. The lease is guaranteed by Family Dollar, operating over 7,500 stores in 49 states. They provide landlords with a proven retail tenant, steady cashflow, and a long-term track record.
This property is offered at $1,523,100 with an 8.1% cap rate.
Family Dollar provides Spencer with value shopping of consumer and household items along with a limited grocery selection which is important to an area with most similar options at least 15 miles away.
Spencer, the county seat of Van Buren County, is equidistant between Nashville and Knoxville in eastern Tennessee. Known for nature and tourism, Spencer is nestled by Fall Creek Falls State Park, one of the highest falls in the Eastern US (over 256 feet) with over 26,000 acres of park land. The area is also becoming known for its growing tiny home communities. The population within a 10-mile radius is 11,416 with an average household income of $66,991. A downtown revitalization plan is underway.
The 10-year NN+ lease runs through July 31, 2033, with five 5-year renewal options. Landlord responsibilities are limited. Tenant responsibilities include all maintenance, including HVAC, liability insurance and full reimbursement of property insurance premium and property taxes to the Landlord. The lease is guaranteed by Family Dollar, operating over 7,500 stores in 49 states. They provide landlords with a proven retail tenant, steady cashflow, and a long-term track record.
This property is offered at $1,523,100 with an 8.1% cap rate.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,500 SF
Building Class
B
Year Built
2023
Price
$2,087,271 CAD
Price Per SF
$198.79 CAD
Cap Rate
8.10%
NOI
$169,074 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.25 AC
Opportunity Zone
Yes
Parking
27 Spaces (2.57 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Family Dollar Dollar Tree
- Retailer
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Family Dollar Dollar Tree | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 030B-B-001.00 | Improvements Assessment | $420,825 CAD |
| Land Assessment | $68,520 CAD | Total Assessment | $489,346 CAD |
Property Taxes
Parcel Number
030B-B-001.00
Land Assessment
$68,520 CAD
Improvements Assessment
$420,825 CAD
Total Assessment
$489,346 CAD
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Family Dollar NN Investment Opportunity | 250 Taft Dr
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