Current Use by Public Records
- Lifestyle centers
Property Details for 10113 Al-9
- Year built
- 2024
- Lot size
- 1.94 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a newly constructed, 10,500 square foot shopping center in Delta, Alabama. Located at 10113 AL-9, this single-tenant property boasts a 10-year net lease with Dollar Tree and Family Dollar, backed by a corporate guarantee from Family Dollar Stores of Alabama, LLC. The lease commenced January 2, 2024, and expires January 3, 2034, offering a substantial remaining lease term of approximately 9.1 years. The property features a 7.75% cap rate and a strong net operating income (NOI) of $123,900 annually. The asking price is $1,598,710, translating to a price per square foot of $152.26. Built in 2024, the building sits on a 1.94-acre lot and includes a large concrete parking lot. Rent increases of $0.50 per square foot are built into the lease every five years, beginning in 2029. The lease also includes six six-year renewal options. The landlord is responsible for roof and structure maintenance. This property offers a compelling investment opportunity due to its strong tenant, long-term lease, and attractive financial metrics. Its location in Delta, Alabama, strategically situated between Atlanta and Birmingham, further enhances its appeal. The tenant, Dollar Tree (NASDAQ: DLTR), is a financially stable, investment-grade company with over $26 billion in revenue. This property represents a secure and profitable investment with significant long-term potential.
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
- Delta
- County
- Cleburne
- State
- Alabama
- Longitude
- -85.6412
- Latitude
- 33.5216
