Family Dollar | Dollar Tree | 2023 Built-to-Suit | Early Dec Opening!

317 E Highway 30, Lisbon, IA

$1,769,580

Price

7.15%

Cap Rate

$126,525

NOI

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Map
Overview
Cap Rate
7.15%
NOI
$126,525
Building Size
10,500 sqft
Lot Area
1 acres
Occupancy
100%
Lease Type
Double Net
Year Built
2023
Price Per Sqft
$168.53
Zoning
Commercial
Traffic Count
6,730
Construction Style
Prototype
Number of Tenants
1
Roof Type
Standing Seam
HVAC
Roof Mounted
Parking Lot
Concrete
Lease Expire Year
12/31/2033
Description

Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Lisbon, Iowa. 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 is currently under construction and on track for a rent start date in early December 2023.

This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned on E Highway 30 which sees 6,730 cars per day. It sits adjacent to a Dollar General store and surrounded by residential. The ten mile population from the site is 17,404 while the three mile average household income is $80,807 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 7.15% cap rate based on NOI of $126,525.

Highlights
  • Dual concept stores see a 20% increase in revenue
  • 10 year NN lease requiring minimal landlord responsibilities
  • 2023 BTS construction | Early December 2023 rent start
  • Four (5 year) options | $0.50 psf rental rate increase
  • Investment credit tenant | Standard & poor's: 'BBB-'
  • 6,730 cars per day on E Highway 30
  • 3 mile average household income $80,807
  • 10 mile population 17,404 & growing
  • Concrete parking lot
Documents
Title
Family_Dollar___Dollar_Tree_-_IA_-_Lisbon__Bang_.pdf
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Location
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