Corner Site Family Dollar | Dollar Tree | 2023 Built-to-Suit
1101 University Avenue, Henry, IL
$1,698,322
Price
7.45%
Cap Rate
$126,525
NOI
Overview
Description
Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Henry, Illinois. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store has completed construction and successfully opened for business in March 2024.
This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned on the hard corner of Country Road 1350N & University Avenue which sees 4,834 cars per day. With 2 points of ingress/egress points, the store is easily accessible from either street. It sits across the street from a Casey's gas station & Henry-Senachwine High School. The ten mile population from the site is 10,721 while the three mile average household income is $61,381 per year, making this location ideal for a Family Dollar | Dollar Tree store. 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 | Dollar Tree store. 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 7.45% cap rate based on NOI of $126,575
Highlights
- Dual concept stores see a 20% increase in revenue
- 10 year NN lease requiring minimal landlord responsibilities
- 2023 BTS Construction | March 2024 Opened
- Four (5 year) options | $0.50 psf rental rate increase
- Across from a Casey's Gas Station & Local High School
- Investment credit tenant | Standard & poor's: 'BBB-'
- Hard corner location | 4,834 cars per day
- 2 points of Ingress/Egress | Accessible from Either Street
- 3 mile average household income $61,381
- 10 mile population 10,721
Documents
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Dollar_Tree___Family_Dollar_-_IL_-_Henry.pdf
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