Family Dollar | Healthy Rent to Sales Ratio

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1244 E. Mcdevitt Ave
Jackson, MI

Price: $806,000

Cap: 9.00%

NOI: $72,500

Building Size: 8,050 SF

Lot Size: 1.09 AC

Investment Highlights

LOW RENT & PRICE POINT STORE WITH HEALTHY RENT TO SALES RATIO

• The subject property has a low rent that equates to a low price point of $806,000. • This store has a healthy rent to sales ratio. Reach out to agent for store sales.

LOCATED DIRECTLY OFF HIGHWAY 127 (22,022 VPD)

• This property is located on E McDevitt Ave (10,383 VPD), directly off Hwy 127 (22,022 VPD).

JACKSON, MI

• Jackson is located one hour west of Detroit and is the county seat of Jackson County.

• A major employer in the city is CMS Energy which provides natural gas and electrical services to much of Michigan and has its international headquarters in the city.

• Other major employers are Henry Ford Health Systems and the Eaton Corporation.

• Colleges and Universities in Jackson include Jackson College, Baker College, and Spring Arbor University.

• An additional 15 higher education institutions are within one hour of Jackson.

RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE

• This Family Dollar has been operating at this location since 2007 and recently extended the lease for 5 years.

• Family Dollar exercised their second lease extension in January 2023 which extended the lease through December 2027 and increased the rent 10%.

• There are 3.75 years remaining on a corporate guaranteed NN lease with Dollar Tree.

• This extension and rent increase speak to Family Dollar's confidence and dedication to this market & location.

• Tenant is responsible for parking lot (repairs ≤ $1,500), taxes, Insurance, HVAC, and Utilities.

• There are limited Landlord responsibilities which include Roof & Structure and Parking Lot (repairs > $1,500).

• There are 10% rent increases in each of the remaining five, 5-year option periods.

INVESTMENT GRADE TENANT

• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.

• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.

• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Don McMinn

678-808-2762 | EMAIL >

OFFERING MEMORANDUM

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