Callao, VA - Family Dollar

Description:

• 7+ years remaining on a 10-year lease with 5 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate signed by Family Dollar Stores of Virgina, LLC
• $0.50/SF rental increases at the beginning of each option
• Low rent occupancy cost with rent of $7.00/SF
• Tenant pays for CAM, taxes, insurance and maintains most aspects
of the premises
• Landlord responsibilities limited to roof, structure, and parking lot
• Ideal, low-management investment for an out-of-state, passive investor

• Family Dollar is strategically located off the signalized, hard corner intersection of Northumberland Hwy and Richmond Rd averaging
9,000 VPD
• Limited competition as there are only a few discount stores serving the immediate trade area
• The asset has excellent visibility via street frontage and multiple points of access, providing ease and convenience for customers
• 2023 renovation of a former grocery store, featuring Family Dollar merchandise
• Large format store allowing for wide range of inventory with emphasis on more grocery aisles, drink coolers, and freezer section
• Multiple points of ingress & egress, with ample parking, and new signage has great visibility from signalized intersection
• Conveniently located at a bus stop, across from US Post Office, and next to the Callao Brewing Company in the center of town
• More than 12,000 residents and 3,200 employees support the trade area
• $82,876 average household income within a 3-mile radius