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Family Dollar Net Lease Investment | 5.85% Cap Rate

7144 N. Palafox Street
Pensacola, FL 32503
PRICE : $1,961,500
CAP RATE: 5.85%
PROPERTY TYPE: Retail
SITE SIZE: 1.82 Acres
BUILDING SIZE: 8,320 SF
YEAR BUILT: 2016

Highlights

  • Rare opportunity to purchase a 15-year absolute NNN leased Family Dollar
  • Over 14 years remain on the initial lease term in this vibrant Florida panhandle community with an area population of over 311,000 in Escambia County, FL
  • 10% rent increase in Year 11 and in each option period with 6 five-year options
  • Florida has no state income tax which benefits a real estate investor
  • Corporate guaranteed lease by Family Dollar
  • The 8,230 SF single tenant building is situated in the heart of Pensacola with a over 19,000 households and a population over 48,400 within 3 miles

Description

Bull Realty is pleased to offer this single tenant NNN leased Family Dollar investment property, located in Pensacola, Florida, which has a population of over 140,435 within a 5-mile radius. Built in 2016, this 15-year NNN lease has six 5-year options and is guaranteed by Family Dollar, a subsidiary of Dollar Tree. The initial term runs through March 2032. Unlike its main competition in the small box dollar store space, this Family Dollar lease has a 10% rent increase in Year 11 of the initial term and in each option period. As an absolute NNN lease, there are no landlord responsibilities. Family Dollar has recently discontinued offering 15 year NNN leases with its new locations and only offers shorter term, 10 year NN leases, which give the landlord responsibility for roof, structure and more.

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