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Family Dollar Investment Opportunity

1139 W Market St, Warren, OH

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For Sale

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NNN Family Dollar property with a new 10-year lease.

Type:RETAIL

Property size:

8,320 SF

Lot size:

0.88 Acres

Price / SF:

$143/SF

HighLights

Strong corporately guaranteed lease with Investment Grade Credit Tenant – S&P Rated BBB.
Tenant (Family Dollar) recently extended their lease to a new full 10‑year term.
Family Dollar has successfully operated at this location for 12 years.
Four, 5‑Year renewal options remaining, all with a 10% rent increase.
High traffic location with approximately 13,751 vehicles daily at the intersection of W Market St.
Strong demographics: 3‑Mile population of approximately 40,537 residents; 5‑Mile population of approximately 70,492 residents.

We can help!

Listing Contact

Josh Bishop

For Sale

Contact for pricing

NNN Family Dollar property with a new 10-year lease.

Type:RETAIL

Property size:

8,320 SF

Lot size:

0.88 Acres

Price / SF:

$143/SF

Added:: Oct 21, 2024
Days on Market:: 602
Last Refresh:: May 20 at 8:33 pm

Property Features for 1139 W Market St

General Information

Standard status: Active
Size: 8,320 SF
Lot size: 0.88 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Josh Bishop

Listing agent Josh Bishop

Listing office Matthews Real Estate Investment Services | Dallas

Listing date Oct 21, 2024

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services | Dallas

HighLights

Strong corporately guaranteed lease with Investment Grade Credit Tenant – S&P Rated BBB.
Tenant (Family Dollar) recently extended their lease to a new full 10‑year term.
Family Dollar has successfully operated at this location for 12 years.
Four, 5‑Year renewal options remaining, all with a 10% rent increase.
High traffic location with approximately 13,751 vehicles daily at the intersection of W Market St.
Strong demographics: 3‑Mile population of approximately 40,537 residents; 5‑Mile population of approximately 70,492 residents.

Overview

This property was built in 2012 as a build-to-suit for Family Dollar. The tenant has recently extended their lease to a new full 10-year term. Family Dollar has operated successfully at this location for 12 years. There are four, 5-year renewal options remaining, all of which include a 10% rent increase. The property experiences approximately 13,751 vehicles daily at the intersection of W Market St. The 3-mile population is approximately 40,537 residents, and the 5-mile population is approximately 70,492 residents. Dollar Tree acquired Family Dollar in 2015, and they are considered the second-largest discount retailer in the United States with more than 16,000 locations. Dollar Tree is one of the retailers that thrived through the COVID pandemic and witnessed a sharp increase in same-store sales and profitability. The property is occupied by an investment-grade credit tenant with an S&P rating of BBB. The property size is 8,320 square feet.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$124.8k	$15.00
− Vacancy	−$5.2k	−$0.63
EGI	$119.6k	$14.37
− OpEx	−$29.9k	−$3.59
NOI	$89.7k	$10.78

8,320 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,669 @ 7.0% cap · market cap 7.49%

Second Best

Retail

$1.15M

$1.00M – $1.34M (±1% cap)

NOI $80,343 @ 7.0% cap · market cap 6.71%

Theoretical Best

Office A

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,543 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Family Dollar Discount Store

Suggested Use

Location Insight

Map
Local Demand

City: Warren
County: Trumbull
State: Ohio
Longitude: -80.8335
Latitude: 41.2339

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What type of property is this?

Grocery and convenience store - NNN Family Dollar property with a new 10-year lease.

Where is this grocery and convenience store located?

The property is located at 1139 W Market St Warren, OH.

What is the asking price?

The asking price for this property is $1,197,605.

What are key features of this property?

This property features: Strong corporately guaranteed lease with Investment Grade Credit Tenant – S&P Rated BBB.; Tenant (Family Dollar) recently extended their lease to a new full 10‑year term.; Family Dollar has successfully operated at this location for 12 years.

1139 W Market St, Warren, OH

NNN Family Dollar property with a new 10-year lease.

Property Features for 1139 W Market St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Remodeled Brick Office Building

Single-Family Residence for Sale

Mixed-Use Retail and Residence

Turnkey Duplex with Two 2-Bed Units

Two-Story Medical Office Building

Commercial Building on Youngstown Road

Retail Building and Land ForSale

Versatile Space in Howland District

East Market Street Office Building

Retail Space in Jamestown Village

Freestanding Medical Office Building

Freestanding Building Near Eastwood Mall

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