Family Dollar - Greensboro

601 Martin Luther King Jr Dr Greensboro , NC 27406-1625

Family Dollar - Greensboro - retail for sale

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Overview



Free-standing, single-tenant Family Dollar for sale along Martin Luther King Junior Drive and just a half mile southeast of downtown Greensboro. Daytime population in the area is over 143,000 residents, with over 82,000 within a 3-mile radius. In close proximity to Bennet College, so the area benefits from a large student population as well. 

Investment highlights


  • Fee simple interest
  • Property includes an absolute NNN lease structure with over 11 years of primary term remaining
  • Six 5-year options for renewal with 10% rental increases on the primary term and each option
  • Completely passive investment opportunity
  • Population of Greensboro is anticipated to grow by 1.18% annually over the next 5 years, outpacing the national average by 40%
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 601 Martin Luther King Jr Dr, Greensboro, NC 27406-1625
Building size 9,180  ft2
Year built 2016
Financial
Price $1,593,750
Cap rate 6.38%
Current NOI $101,668.00
Lease
Tenant's name Family Dollar Store, Incorporated
Guarantor Family Dollar Store, Incorporated
Guarantor credit rating (S&P) BBB-
Guarantor credit rating (Moody's) Baa3
Lease type NNN
Annual rent $101,668.00

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