NNN Leased Big 5
2152 Dell Range Blvd | Cheyenne, WY
Sq. Feet 42,782
The subject property is a brand new Family Dollar ("FD") store located at the corner of E. Leitner Street and Highway 301 (S. Richardson Street) in Latta, SC, just outside of Florence. Currently under construction, the project was completed in March, 2016. This will serve as a relocation and replacement store for the tenant who was doing so well in an inline store right around the corner, that they decided to build a brand new, larger footprint, new prototype, and freestanding store to accommodate the high level of business volume.
FD is signed to a brand new NNN lease that will commence in March, 2016 and will not expire until March 31st, 2031. Rent is scheduled to increase 10% in year 11 and each of the 6, 5-year renewal option periods. By relocating to this larger store, FD is clearly indicating a strong level of success and demonstrating their long term commitment to the market
Cap Rate: 6.36% NOI: $99,777 Livable Sq. Ft: 8,320
Built in 2016 1 Retail units Lot Sq. Ft: 43,540