Family Dollar
Houston, TX
| Price | $1,836,000 |
| Cap Rate | |
| NOI | $113,745 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 5% Rental Increaess After Year 10 and Every Five (5) Years Thereafter |
| Year Built | 2018 |
| Building Size | 8,320 SF |
| Lot Size | 1.08 Acres (47,045 SF) |
| Status | Sold |
| Lead Broker Information | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
CORPORATE GUARANTEED ABSOLUTE TRIPLE NET LEASE
» Guaranteed by Dollar Tree, Inc. (NASDAQ: “DLTR”) – rated “BBB-” by Standard & Poor’s
» Scheduled rental increases, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an out-of- area investor
HIGH-TRAFFIC LOCATION AT SIGNALIZED INTERSECTION
» Located at the signalized intersection of West Montgomery Road and Wilburforce Street, with excellent visibility and access to 12,500 vehicles per day directly in front of the property
» Convenient access to Shepherd Drive (31,121 AADT), which connects to Interstate 45, a highly trafficked route into downtown Houston that experiences a large traffic volume of 268,674 vehicles per day near the property
CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Located amid densely populated residential neighborhoods just over seven miles from downtown Houston
» Close proximity to the 113-bed United Memorial Medical Center and several schools, including Williams Middle School (514 students), Highland Heights Elementary (631 students), Saint Pius X High School (660 students), and Wesley Elementary (448 students)
» 364,378 residents live and 147,509 daytime employees work within a five-mile radius
» Between 2010 and 2018, the population within a one-mile radius increased more than 15%
NEW 2018 CONSTRUCTION
» High-quality construction featuring latest Family Dollar prototype
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is located at the signalized intersection of West Montgomery Road and Wilburforce Street, with excellent visibility and access to 12,500 vehicles per day directly in front of the property. West Montgomery Road provides convenient access to Shepherd Drive (31,121 AADT), which connects to Interstate 45, a highly trafficked route into downtown Houston that experiences a large traffic volume of 268,674 vehicles per day near the property. The property is a short distance from notable retailers located along Highway 291— including well-known tenants like Bank of America, Jack in the Box, and AutoZone—and is just minutes from larger shopping centers featuring national brands like Home Depot, Lowe’s, Kroger, Ross, PetSmart, Walmart Supercenter, Advance Auto Parts, Walgreens, and many others.
The property is centrally located amid densely populated residential neighborhoods just over seven miles from downtown Houston. Several schools are located near the property, including Williams Middle School (514 students), Highland Heights Elementary (631 students), Saint Pius X High School (660 students), and Wesley Elementary (448 students). Other important community amenities are close to the property, including the 113-bed United Memorial Medical Center, located just over a mile away. Additionally, the property is supported by a large, growing population; 364,378 residents live within five miles of the property, and the population within a one-mile radius grew more than 15% between 2010 and 2018, providing a strong customer base.
