Family Dollar | Interstate Location

8,028 SF | Retail Building | Wells, NV 89835 | $1,088,000 ($136/SF) | 9% Cap Rate

Asking Price $1,088,000

Property Type: Retail
Square Feet: 8,028 SF
Price / Square Foot: $136

Listing Contacts

Cameron Glinton

Verified Profile

Property Info

Property Overview

LOWER RENT & PRICE POINT
• The subject property has a lower rent which equates to a lower price point of $1,088,000.

INTERSTATE LOCATION
• This Family Dollar is located directly off Interstate 80 in Wells, NV. Wells is located in the northeast corner of the state.
• I-80 is a major east-west interstate that connects Wells to Reno, NV.
• Wells High school and elementary school is less than half a mile from this Family Dollar.
• Wells Municipal Airport is located 3 miles from this Family Dollar.

NEVADA IS A TAX FREE STATE
• Nevada is one of nine income tax free states.

CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2012 and extended the lease for an additional 5 years.
• Family Dollar exercised their first option period in April 2022 which extended the lease through March 2027.
• There are 3 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension speaks to Family Dollar's confidence and dedication to this market & location.
• Tenant is responsible for Parking Lot Restriping, Landscaping, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include Parking Lot, Roof & Structure.
• There are 10% rent increases in each of the remaining four, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion

Property Details

Class: B
Year Built: 2011
Stories: 1
Property Subtype: Freestanding
Lot Size (sq. ft): 27,443 SF

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