Family Dollar | Recent Lease Extension | 8635 N 300 W
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Family Dollar | Recent Lease Extension 8635 N 300 W
13,604 SF Retail Building Lake Village, IN 46349 $1,478,323 CAD ($109 CAD/SF) 9% Cap Rate
EXECUTIVE SUMMARY
LOWER RENT & PRICE POINT
• The subject property has a low rent which equates to a low price point of $1,022,000.
RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar Tree has been operating at this location since 2013 and recently extended the lease for an additional 5 years.
• Dollar Tree exercised their first option period and increased the rent in July 2023 which extended the lease through June 2028.
• There are over 4 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This lease extension & rent increase speaks to Dollar Tree's confidence and dedication to this market & location.
• Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include only Roof & Structure.
• There are 10% rent increases in each of the remaining four, 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.
CHICAGO MSA | LARGEST CITY IN IL
• Lake Village is located an hour south of Chicago on Highway 41 and is a part of the MSA.
• Chicago is the largest city in Illinois and the third largest city in the United States with a population over 2.6 million.
• Multiple DOW 30 companies are based in Chicago including Boeing, McDonald’s, Walgreens and more.
• Chicago has been named the “Best Sports City” for multiple years for being home to the Chicago Bears, Chicago Cubs, Chicago Blackhawks, the Chicago Bulls and many more.
• Home to multiple reputable universities including Northwestern University (21,000 students), The University of Chicago (14,467 students), Loyola University of Chicago (16,437 students) and many more.
• Home to the second busiest airport in the world, O’Hare International Airport, that serves over 85 Million passengers per year
• The subject property has a low rent which equates to a low price point of $1,022,000.
RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar Tree has been operating at this location since 2013 and recently extended the lease for an additional 5 years.
• Dollar Tree exercised their first option period and increased the rent in July 2023 which extended the lease through June 2028.
• There are over 4 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This lease extension & rent increase speaks to Dollar Tree's confidence and dedication to this market & location.
• Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include only Roof & Structure.
• There are 10% rent increases in each of the remaining four, 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.
CHICAGO MSA | LARGEST CITY IN IL
• Lake Village is located an hour south of Chicago on Highway 41 and is a part of the MSA.
• Chicago is the largest city in Illinois and the third largest city in the United States with a population over 2.6 million.
• Multiple DOW 30 companies are based in Chicago including Boeing, McDonald’s, Walgreens and more.
• Chicago has been named the “Best Sports City” for multiple years for being home to the Chicago Bears, Chicago Cubs, Chicago Blackhawks, the Chicago Bulls and many more.
• Home to multiple reputable universities including Northwestern University (21,000 students), The University of Chicago (14,467 students), Loyola University of Chicago (16,437 students) and many more.
• Home to the second busiest airport in the world, O’Hare International Airport, that serves over 85 Million passengers per year
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,604 SF
Building Class
C
Year Built/Renovated
1975/2013
Price
$1,478,323 CAD
Price Per SF
$109 CAD
Cap Rate
9%
NOI
$132,983 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
3.33 AC
Frontage
236 ft on N 300 W
AMENITIES
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 56-04-22-223-003.000-012 | Improvements Assessment | $471,704 CAD |
| Land Assessment | $102,557 CAD | Total Assessment | $574,260 CAD |
PROPERTY TAXES
Parcel Number
56-04-22-223-003.000-012
Land Assessment
$102,557 CAD
Improvements Assessment
$471,704 CAD
Total Assessment
$574,260 CAD
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Family Dollar | Recent Lease Extension | 8635 N 300 W
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