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Family Dollar | Absolute NNN 911 1st ave 9,180 SF 100% Leased Retail Building Kinder, LA 70648 $1,618,516 CAD ($176.31 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease | Zero Landlord Responsibilities
- Concrete Parking Lot
- Ten Mile Population 8,564
- 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
- Three Mile Household Income $57,309
- Only 5.4 Miles From Cousha a Casino Resort - the Largest Casino Resort in the State
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Kinder, Louisiana. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. There are 5 years 2 months 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 classi?ed as Investment Grade. The store is currently open & operating successfully with rent having commenced in September 2015.
This Family Dollar is highly visible as it is strategically positioned on 1st Avenue which sees 5,532 cars per day, just a short distance off of Highway 165 which sees 8,227 cars per day. It is also located only 5 miles from the largest casino resort in Louisiana, Coushatta Casino Resort. The ten mile population from the site is 8,564 while the three mile average household income is $57,309 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 ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. List price re?ects a 8.00% cap rate based on NOI of $92,757.
This Family Dollar is highly visible as it is strategically positioned on 1st Avenue which sees 5,532 cars per day, just a short distance off of Highway 165 which sees 8,227 cars per day. It is also located only 5 miles from the largest casino resort in Louisiana, Coushatta Casino Resort. The ten mile population from the site is 8,564 while the three mile average household income is $57,309 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 ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. List price re?ects a 8.00% cap rate based on NOI of $92,757.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Building Size
9,180 SF
Year Built
2008
Price
$1,618,516 CAD
Price Per SF
$176.31 CAD
Cap Rate
8%
NOI
$129,481 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.14
Lot Size
1.48 AC
Parking
30 Spaces
Frontage
242’ on 9th Street
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Family Dollar
- Retailer
- 9,180 SF
- $14.10 CAD
- Triple Net
- Aug 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Family Dollar | Retailer | 9,180 SF | $14.10 CAD | Triple Net | Aug 2030 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0220044400 | Improvements Assessment | $207,994 CAD |
| Land Assessment | $11,235 CAD | Total Assessment | $219,228 CAD |
PROPERTY TAXES
Parcel Number
0220044400
Land Assessment
$11,235 CAD
Improvements Assessment
$207,994 CAD
Total Assessment
$219,228 CAD
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Family Dollar | Absolute NNN | 911 1st ave
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