Family Dollar 602 Division St 7,980 SF Retail Building Biloxi, MS 39530 $1,322,309 CAD ($165.70 CAD/SF) 8.25% Cap Rate

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.