Family Dollar NN Investment Opportunity | 8.1% Cap Rate | Troy, TN

This property is located in Troy, TN.This ±10,500 SF, Family Dollar built in 2023, is on a ±1.11-acre parcel at the corner of Frazier St. and U.S. Hwy 51 (Jere B. Ford Memorial Hwy) in Troy, Tennessee. Traffic counts on U.S. Hwy 51 near the property are 11,510 VPD. The corporate guaranteed, 10-year NN lease runs through January 31, 2034, and has four 5-year renewal options, each with a $0.50/SF rent increase. 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, a town in Obion County, is located in the northwest corner of Tennessee. Obion County is among the top five corn producing counties in the state. Troy is just over 26 miles north of Dyersburg, TN, approximately 93 miles south of Cape Girardeau, MO and approximately 108 miles northeast of Memphis. The population within a 7-mile radius is 6,638 with an average household income of $73,413. The lease is guaranteed by Family Dollar, who was recently purchased by two private equity firms including over 7,500 stores in 49 states. Family Dollar specializes in providing value and a large product and limited grocery selection to smaller communities such as Troy. They provide investors with a proven retail concept with a long-term track record. This property is priced at $1,471,300 with an 8.1% cap rate.