Family Dollar Investment Opportunity - El Paso, TX
406 South Stanton Street
El Paso, TX 79901
|NEW Asking Price - $1,548,000||Property Type - Retail|
|Investment Type - Net Lease||Lease Type - Net|
|Tenancy - Single||Square Footage - 10,060 SF|
|Net Rentable (SF) - 10,060 SF||Price PSF - $159.05|
|Cap Rate - 7.75%||Occupancy - 100%|
|Current NOI - $120,508.00||Units - 1|
|Year Built - 1950||Year Renovated - 2000|
|Stories - 1||Lot Size (SF) - 10,200 SF|
|APN - C050-999-1370-6400||Ownership - Fee Simple|
NEW ASKING PRICE $1,548,000 (reduced from $1,600,000)
Family Dollar is a subsidairy of Dollar Tree (NASDAQ: DLTR) and is a leading discount variety store chain. This Famiy Dollar is located just blocks from the Mexico border. This strategic location allows the store to attract customers from both the United States and Mexico with approximately 110,000 vehicles and 50,000 pedestrians entering El Paso through the Stanton Street Bridge monthly just blocks away.
The store has been at this location for over 19 years opening in 2000. This store is one of the few Family Dollar store in the country required by the lease to report store sales. This offers an investor the ability to earn a very attractive return with complete transparency and reduced risk.
As a testament to the strength of this location the store recently executed their next 5-year extension over 18 months early. The current term expires 12/31/2025 with two additional 5-year options each with 10% rent increases.