Family Dollar

1908 S. michigan Ave.
Saginaw, MS 48602

Property Description

Stan Johnson Company is pleased to offer for sale to qualified investors an attractive retail property located in Saginaw, Michigan (CSA population: 307,940).

The property is 100% leased to and guaranteed by Family Dollar Stores, Inc. (NYSE: FDO) with approximately 5.5 years remaining on a Ten (10) year NN lease term. The lease has Four (4), Five (5) year renewal options still in place offering 10% rent increases every Five (5) years.

The subject property is strategically located in a residential area along Michigan Ave. The site offers convenient access and excellent visibility to over 18,850 VPD.

Location Description

Stan Johnson Company is pleased to offer for sale to qualified investors an attractive retail property located in Saginaw, Michigan (CSA population: 307,940).

For More Info Contact:
Derek Layne
310-772-2206

General Info

  • Property TypeRetail
  • Price$744242
  • Segment TypeDiscount
  • Building Size9,180 sqft
  • Land Area8.57 Acres
  • StatusAvailable
For More Info Contact:
Derek Layne
310-772-2206

Highlights

  • 8.25% Cap Rate
  • Ten (10) Year NN lease with approximately 5.5 years remaining in base lease term
  • Four (4), Five (5) year renewal options still in place offering Attractive 10% rent increases every Five (5) years
  • Low rent to sales ratio, 2009 approximated 4.3% and 2010 approximated 3.8%
  • Established location with strong annual sales numbers; Store Sales at this location increased 12.7% in 2010 to $1,604,673
  • Tenant pays Additional Rent equal to 3% of gross sales in excess of $2,050,000 annually
  • Strategically located in a dense residential area along Michigan Avenue with traffic counts in excess of 18,800 VPD
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