975 1st Ave - Freestanding FOR SALE


Kinder, LA 70648
$1,325,100 USD
248-254-3409
975 1st Ave, Kinder, LA for Sale
$1,325,100 USD
Freestanding - FOR SALE
1/5
null | 7% Cap Rate

975 1st Ave
Kinder, LA 70648


HIGHLIGHTS

  • Absolute NNN Lease | Zero Landlord Responsibilities
  • Concrete Parking Lot
  • 5,532 VPD on 1st Ave
  • 8,227 VPD on Highway 165
  • Only 5.4 Miles From Coushatta Casino Resort - the Largest Casino Resort in the State

OVERVIEW

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 5.75 years 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 classified 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 financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $92,757.

FOR SALE DETAILS

PRICE

$1,325,100 USD

PRICE/SF

$144 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

CM

APN/PARCEL ID

022-0044400

ASK ABOUT THIS PROPERTY

Ben SchultzFortis Net LeaseMore Info
248-254-3409

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Ben SchultzFortis Net LeaseMore Info
248-254-3409

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