New Family Dollar Store
511 S Frazier St, Troy, TN 38260
- Added:
- Nov 25, 2025
- Days on Market:
- 174
- Last Refresh:
- Apr 5 at 8:21 pm
Property Features for 511 S Frazier St
General Information
- Standard status
- Active
- Property subtype
- Retail
Building Details
- Year Built
- 2023
Listing agent Nancy Miller, CCIM, MBA (404) 876-1640
Listing office (404) 876-1640
Listing date Nov 25, 2025
Source Bullrealty
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 Nancy Miller, CCIM, MBA
HighLights
- High Cap Rate: Priced at $1,471,300 with an attractive 8.1% cap rate.
- Long‑Term Lease: 10‑year NN lease guaranteed by Family Dollar through January 31, 2034, with renewal options.
- New Construction: Built in 2023, minimizing immediate capital expenditure concerns.
- Strategic Corner Location: Situated on a ±1.11‑acre corner parcel with high visibility on U.S. Hwy 51 (11,510 VPD).
- Recession‑Resilient Tenant: Family Dollar is a proven discount retailer.
- Favorable Lease Terms: NN lease structure with limited landlord responsibilities and rent increases upon renewal.
Overview
This property features a recently constructed, approximately 10,500-square-foot Family Dollar store, built in 2023 on an approximate 1.11-acre corner parcel in Troy, Tennessee. The corporate-guaranteed, 10-year NN lease extends through January 31, 2034, and includes four 5-year renewal options, each with a $0.50 per square foot rent increase. The property is located at the corner of Frazier St. and U.S. Hwy 51 (Jere B. Ford Memorial Hwy), with traffic counts on U.S. Hwy 51 near the property at 11,510 vehicles per day. Landlord responsibilities include roof, structure, capital repairs to parking lot and payment of property taxes and property insurance & liability insurance. Tenant responsibilities include all other maintenance, including HVAC, liability insurance and full reimbursement of Landlord’s property insurance premium and property taxes. Troy is located in the northwest corner of Tennessee, in Obion County, which is among the top five corn-producing counties in the state. The location is just over 26 miles north of Dyersburg, approximately 93 miles south of Cape Girardeau, MO, and approximately 108 miles northeast of Memphis. Within a 7-mile radius, the population is 6,638 with an average household income of $73,413. Family Dollar specializes in providing value and a large product and limited grocery selection to smaller communities such as Troy. The lease is guaranteed by Family Dollar, who was recently purchased by two private equity firms including over 7,500 stores in 49 states.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Family Dollar
Discount Store
Similar Places Nearby
- Troy Pharmacy — 404 East W Harper St, Troy, TN 38260
- Karen Tennant — 404 w harper st, troy, tn 382605946
- Kristi Totty — 404 w harper st, troy, tn 382605946
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Obion
- State
- Tennessee
- Longitude
- -89.1621
- Latitude
- 36.335
FAQs
What type of property is this?
Drug store - Recently built Family Dollar store with corporate guaranteed lease.
Where is this drug store located?
The property is located at 511 S Frazier St Troy, TN.
What is the asking price?
The asking price for this property is $1,471,300.
What are key features of this property?
This property features: High Cap Rate: Priced at $1,471,300 with an attractive 8.1% cap rate.; Long‑Term Lease: 10‑year NN lease guaranteed by Family Dollar through January 31, 2034, with renewal options.; New Construction: Built in 2023, minimizing immediate capital expenditure concerns.
