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Family Dollar NN Investment | 8.1% Cap Rate 511 Frazier Street 10,500 SF Retail Building Troy, TN 38260 $2,034,072 CAD ($193.72 CAD/SF) 8.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent Construction: ±10,500 SF Family Dollar built in 2023 and is situated on a ±1.11-acre corner parcel in Troy, Tennessee
- Corporate Guaranteed Lease with Recession Resilient Tenant: Family Dollar is a proven discount retailer as demonstrated during the pandemic
- 7-mile radius has an average household income of $73,413
- Lease Structure: 10-Year NN lease runs through January 31, 2034, and has four 5-year renewal options, each with a $0.50/SF rent increase
- Strategic Location: Troy, located in northwest Tennessee’s Obion County, has a population of 6,638 within a 7-mile radius
- It is just over 100 miles northeast of Memphis. Broker of Record: Michael Bull, CCIM - TN License #339898
EXECUTIVE SUMMARY
The corporate guaranteed, 10-year NN lease runs through January 31, 2034, and has four 5-year renewal options, each with a $0.50/SF rent increase.
Landlord responsibilities include roof, structure, capital repairs to parking lot and payment of property taxes and property insurance & liability insurance. Tenant responsibilities include all other maintenance, including HVAC, liability insurance and full reimbursement of Landlord’s property insurance premium and property taxes.
Troy, a town in Obion County, is located in the northwest corner of Tennessee. Obion County is among the top five corn producing counties in the state. Troy is just over 26 miles north of Dyersburg, TN, approximately 93 miles south of Cape Girardeau, MO and approximately 108 miles northeast of Memphis. The population within a 7-mile radius is 6,638 with an average household income of $73,413.
The lease is guaranteed by Family Dollar, who was recently purchased by two private equity firms and who has over 7,500 stores in 49 states. Family Dollar specializes in providing value and a large product and limited grocery selection to smaller communities such as Troy. They provide investors with a proven retail concept with a long-term track record. This property is priced at $1,471,300 with an 8.1% cap rate.
PROPERTY FACTS
AMENITIES
- Wheelchair Accessible
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
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Family Dollar is a neighborhood-focused retailer committed to providing everyday essentials at affordable prices. With merchandise typically ranging from $1 to $10, Family Dollar offers a wide selection of competitively priced national brands alongside value-driven private labels. Customers can find food and beverages, paper goods, health and beauty products, pet supplies, home décor, apparel, seasonal items, and personal electronics—all in one convenient location. Family Dollar stores are strategically located in communities across the country, including underserved areas often lacking access to affordable retail options. By placing stores in these neighborhoods, Family Dollar helps improve the availability of essential goods while saving customers time and money. The company’s mission is rooted in delivering value, convenience, and reliability to families seeking quality products on a budget.
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Family Dollar NN Investment | 8.1% Cap Rate | 511 Frazier Street
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