Family Dollar Tree

BACK TO LISTINGS

Family Dollar Tree

1609 E Norwood Dr
Algona, IA

Price: $1,196,000

Cap: 7.75%

NOI: $92,625

Building Size: 22,000 SF

Lot Size: 2.94 AC

Investment Highlights

LOW RENT & PRICE POINT

• The subject property has a lower rent which equates to a low price point of $1,196,000

INVESTMENT GRADE TENANT (S&P: BBB)

• 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.

9 YEAR CORPORATE LEASE

• Family Dollar Tree renovated & backfilled a former hardware store and signed a new 10 year lease that commenced in June 2023.

• There are approximately 9 years left on a 10-year corporate guaranteed NN Lease with Family Dollar Tree.

• Tenant is responsible for routine parking lot maintenance, landscaping, HVAC, Taxes, Insurance, and utilities.

• The Landlord responsibilities include Roof, Structure and Parking Lot.

• The rent increases $0.50/SF in each of the Five, 5-year option periods.

ALGONA | COUNTY SEAT OF KOSSUTH COUNTY

• Algona is located in north-central Iowa and is the county seat of Kossuth County.

• Algona's economy has been based on agriculture, manufacturing, healthcare, and retail.

• Key employers in Algona include manufacturing companies, educational institutions, and healthcare facilities.

NEAR FORT DODGE, IA

• The subject property is located in Algona which is less than 1 hour north of Fort Dodge on Hwy 169 (9,270 VPD).

• Fort Dodge is the county seat of Webster county and is a major commercial center for North Central and Northwest Iowa.

• The major industries of Fort Dodge are biofuels, livestock feed, gypsum and limestone mining, can production, drywall manufacturing, trucking, the manufacture of veterinary pharmaceuticals and vaccines, and retail.

• Three major national trucking companies (primarily flatbed carriers serving the drywall industry) are based in Fort Dodge. The city also serves as a retail center for North-Central Iowa.

• Home to the central campus of Iowa Central Community College (4,704 students enrolled).

• National Retailers in Fort Dodge include Target, ALDI, Menards, Walmart and more.

Don McMinn

678-808-2762 | EMAIL >

Andrew Koriwchak

678-808-2816 | EMAIL >

OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.

Name

Phone

Email

Principal or Broker?