(Dark) Family Dollar

The property holds a hard corner on NC Highway 704 in Sandy Ridge, an unincorporated Stokes County community in North Carolina's northern Piedmont, roughly 8 miles northeast of the county seat of Danbury and about 4 miles south of the Virginia state line. NC-704 is the primary corridor through the area, and the site serves a trade area that reaches across both Stokes County and adjacent Patrick County, Virginia. The surrounding region is known for the Sauratown Mountains and Hanging Rock State Park, one of North Carolina's most visited state parks, along with Dan River recreation that draws visitors throughout the year. The biggest story in the local market is Carrollwood Farms, taking shape just east of Sandy Ridge. Roy Carroll, the Greensboro billionaire behind The Carroll Companies, has assembled roughly 8,000 acres across Stokes, Rockingham, and southern Virginia and is developing it into a first-class equestrian and agritourism destination. Plans already in progress include a best-in-class equestrian center, a hotel, a restaurant, and a working farm, with the broader vision drawing events, education, corporate retreats, and weddings to the area. County leadership has called it the largest investment in recent memory, and it is positioning Sandy Ridge as a regional destination rather than a pass-through. That momentum is reinforced to the southwest in Danbury, where Novant Health recently acquired and recapitalized the county hospital, Community Hospital of Stokes, committing more than $50 million over five years.Exclusive Realty presents a single-tenant retail asset in Sandy Ridge, NC leased to Family Dollar, a subsidiary of Dollar Tree, Inc. (S&P BBB, investment grade), on a corporate guaranty producing $97,675 of annual income. At the $795,000 list price, the going-in return is 12.29%, a yield rarely available on investment-grade corporate paper. Rent is secured in full through January 31, 2031 under the existing NN lease, independent of store operations. The real estate underwrites as well as the income. Built in 2021, the 9,180 square foot building sits on 1.71 acres with 48 surface spaces and a hard-corner position on NC-704. Priced at roughly $87 per square foot, the basis sits well below replacement cost for comparable new construction. The tenant carries taxes and insurance under the NN structure, and landlord responsibility is limited to roof and structure, both new as of 2021 and covered by a 10-year warranty, keeping near-term capital exposure minimal. The structure also offers optionality. Family Dollar has expressed interest in a lease buyout, creating a potential path to accelerated capital return, while the modern, flexible box and corner location support re-tenant or owner-user demand over time. A buyer collects a high current return today and holds well-located 2021 real estate at a low basis behind it.