Family Dollar
Rowland, NC
Key Details
| Price: | $1,377,793 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $99,890 |
| Address: | 2588 North Carolina 710, Rowland, North Carolina 28383 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 14 Years |
|---|---|
| Lease Commencement: | 4/20/2017 |
| Lease Expiration: | 3/31/2032 |
| Lease Term Remaining: | 7 Years |
| Rental Increases: | 10.00% in Year 11 and Through Option Periods |
| Lot Size: | 0.90 Acres |
| Building Size: | 8,320 SF |
| Year Built: | 2017 |
NNN Pro is pleased to present the exclusive listing for a Family Dollar located at 2588 North Carolina 710, Rowland, North Carolina 28383. The site consists of roughly 8320 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Family Dollar is subject to a 14-year Triple Net (NNN) lease, which commenced 4/20/2017. The current annual rent is $99,890 and has scheduled increases of 10.00% in Year 11 and Through Option Periods.
About the Investment
- Absolute Triple Net Lease Tenant has signed an absolute triple net lease, in which Family Dollar is responsible for taxes, insurance, and maintenance as it relates to the property. The landlord has zero responsibilities.
- 10% Rental Increase in 2027! Boosts Cap Rate by 73 Basis Points! Tenant signed a 15-year lease, which commenced April 2017 and has over 7 years remaining.
- Attractive 10% Rental Increases The lease is subject to 10% rental increases, with the next adjustment scheduled for 2027. Subsequent 10% increases will take place at the beginning of each fiveyear option period.
Key Details
| Price: | $1,377,793 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $99,890 |
| Address: | 2588 North Carolina 710, Rowland, North Carolina 28383 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 14 Years |
|---|---|
| Lease Commencement: | 4/20/2017 |
| Lease Expiration: | 3/31/2032 |
| Lease Term Remaining: | 7 Years |
| Rental Increases: | 10.00% in Year 11 and Through Option Periods |
| Lot Size: | 0.90 Acres |
| Building Size: | 8,320 SF |
| Year Built: | 2017 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Broker of Record
Brian Brockman
Bang Realty-North Carolina, Inc
License: 298998
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.