10113 Al-9 Delta, AL 36258

Property Details for 10113 Al-9

Year built

2024

Lot size

1.94 lot acres

Property size

10,500 SF

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.

Location Insight

City

Delta

County

Cleburne

State

Alabama

Longitude

-85.6412

Latitude

33.5216