207 E NC 11 - Storefront FOR SALE


Oak City, NC 27857
$999,999 USD
415-625-2114
207 E NC 11, Oak City, NC for Sale
$999,999 USD
Storefront - FOR SALE
1/4
null | 8.14% Cap Rate

207 E NC 11
Oak City, NC 27857


HIGHLIGHTS

  • 10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION)
  • CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
  • WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
  • DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY

OVERVIEW

10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION) The subject property is a freestanding Family Dollar store operating under a 10-year corporate lease extension. It is currently operating at a Family Dollar and the tenant may convert the location to the latest Dollar Tree - Family Dollar combo store concept(2). CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC. The lease is corporately guaranteed by Family Dollar Stores, Inc., which is owned by Dollar Tree Stores, Inc. (NASDAQ: DLTR, S&P “BBB”). Family Dollar Stores, Inc. was acquired by Dollar Tree, Inc. in 2015. WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER The subject property has limited direct competition in the immediate trade area. It’s a well-established Family Dollar situated at a 4-way signalized corner across from a Speedway fuel station. DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY The property has direct street frontage along NC 11 Highway, which provides direct access to regional markets including Greenville, NC. There are strong traffic counts of 5,966 VPD near the subject property. 10% RENT INCREASES EVERY 5-YEARS The lease offers landlord-friendly rent increases of 10% at each of the 4, 5-year option periods.

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$125 USD /SF

CAP RATE

8.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

R

APN/PARCEL ID

1000781

ASK ABOUT THIS PROPERTY

John GlassThe Glass Group | Marcus & MillichapMore Info
415-625-2114

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John GlassThe Glass Group | Marcus & MillichapMore Info
415-625-2114

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.