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Price: $737,733
CAP Rate: 9.00%
Address: 266 E. South St.
City: Akron
State: OH
Zip: 44311
Year Built: 2007
| Down Payment: $737,733
Sq. Ft.: 8,125
Lot Size: .80
Status: Available
NOI: $66,396
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Description:
PROVEN LOCATION WITH PHENOMENAL STORE SALES ($1,349,685). The subject property is a freestanding Family Dollar with approximately 8,125 SQFT. The store is typical of the Family Dollar stores that dot the landscape of middle America. Family Dollar Stores, Inc. is one of the fasting growing discount store chains in the United States and is the nation's number two dollar store, just behind Dollar General. Fast-growing Family Dollar operates about 6,000 stores in 44 states. As other retailers have faltered in the current economic climate, Family Dollar has flourished. The company's stock has gained while others have been decimated. The investment offers investors a safe haven recession proof opportunity with a low cost per square foot at an above market return.
Investment Highlights:
10 year NN lease with 4-5 year options
8 years and 6 months remain on base lease term
10% rent increases in the option terms
Second Largest Discount Store in the Country
Operates Over 6,000 Stores in the United States
Corporate Guarantee from NYSE (FDO)
Financing Summary:
All cash
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