Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 771 Main St
- Year built
- 2023
- Lot size
- 0.82 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 10,500 square foot Family Dollar/Dollar Tree storefront located at 771 Main St, Ragland, AL 35131. Built in 2023, this single-story building sits on a 0.82-acre lot and boasts a 100% occupancy rate with a strong corporate guarantee from Family Dollar Stores, Inc. The property features a Net Lease (NNN) structure, minimizing landlord responsibilities. The current lease term extends to March 31, 2033, with 8.4 years remaining, offering significant long-term stability. The lease includes rent bumps of $0.50 per square foot every five years, starting in the option periods, providing built-in rent growth. The asking price is $1,302,000, representing a compelling cap rate of 8.75% based on a current Net Operating Income (NOI) of $113,925. The lease commenced February 1, 2023, and includes four, five-year options. This property offers a rare opportunity to acquire a brand-new, high-performing retail asset with a blue-chip tenant in a stable market. The property's strategic location in Ragland, Alabama ensures convenient access for a wide customer base. This investment is ideal for those seeking a secure, passive income stream with significant long-term growth potential. The property's strong financials, coupled with the tenant's excellent credit rating, make this an attractive addition to any portfolio.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ragland
- County
- St. Clair
- State
- Alabama
- Longitude
- -86.1551
- Latitude
- 33.7432
