Family Dollar NN Investment Opportunity | Spencer, TN

Family Dollar selected this site well! It sits at the intersection of four laned State Road 111 and Taft Drive in Spencer, TN. Built in 2023, the large ±10,500 SF store sits on ±1.25 acres. The Van Buren County Administrative Offices are across the street. The area is a “food desert” and Family Dollar and the older, not updated Dollar General across the street provide Spencer with value shopping of consumer and household items along with a limited grocery selection which is important to an area with most similar options at least 15 miles away. Spencer, the county seat of Van Buren County, is equidistant between Nashville and Knoxville in eastern Tennessee. Spencer, know for nature and tourism, is nestled by Fall Creek Falls State Park, one of the highest falls in the Eastern US with over 26,000 acres of park land. The area is also becoming known for its growing “tiny home” communities. The population within a 10-mile radius is 11,429 with an average household income of $68,622. A downtown revitalization plan is underway. The 10-year NN+ lease runs through July 31, 2033, with five 5-year renewal options. Landlord responsibilities are limited to roof, structure and parking lot capX. Tenant responsibilities include all maintenance, including HVAC, liability insurance and full reimbursement of property insurance and property tax to the Landlord. The lease is guaranteed by Family Dollar, operating over 7,500 stores in 49 states. They provide landlords with a proven retail tenant, steady cashflow, and a long-term track record. This property is offered at $1,410,000 with an 8.75% cap rate.