Family Dollar
Closed704 7th St N, Cordele, GA 31015
Property type
Retail
Unit / Space count
1
Price
$1,640,455
Building size
9,180 sf
Rentable area
9,180 SF
Year built
2022
Year renovated
Occupancy
100%
APN
C10-041
Zoning code
Industrial
Lot size
1.38 Acres
CAP
6.15%
Price per Unit
$1,640,455
Price per SF
$178.70
Net Operating Income
$100,888
Property description
Franklin Street is pleased to present this new construction Family Dollar location in Cordele, Georgia. Cordele is centrally located between Macon (65 miles) and Valdosta (90 miles) on Interstate 75. The property is ideally located on 7th street which is the main travel corridor going North and South running parallel with Interstate 75. Family Dollar recently signed a new corporately guaranteed 10-year lease at this location, which features their latest prototype building. The lease features $0.50 per square foot increases every 5 years in each option period. The property sits on a large 1.38-acre corner parcel with multiple entry and exit points and is only minutes away from the main retail corridor in Cordele, Georgia. In 2015, Family Dollar completed a $9.2 billion merger with Dollar Tree. Post-merger the company now has a net worth of $4.40 billion, produces annual revenues in excess of $5 billion, and operates more than 16,000 stores across the United States and Canada, making it the largest discount retailer in North America. Family Dollar is located just up the road from the primary retail corridor for Cordele, Georgia with other surrounding national credit tenants including The Home Depot, Walmart, Chick-fil-A, CVS, Tractor Supply, Walgreens, Burger King, O'Reilly Auto Parts, Mavis Tire, Belk, and Zaxby's.
Property highlights
- New 10-Year leased Family Dollar location in South Georgia
- Corporate Guaranty and strong 6.5% same-store sales growth for 1Q 2022
- Excellent visibility at corner parcel on 7th Street
- Centrally located in the heart of town convenient to the surrounding residential communities
- Family Dollar credit rating is rated "BBB" by Standard & Poor's
- Company operates over 16,000 stores and has annual sales of over $26 billion
- Large 1.38-acre parcel in the main retail corridor of Cordele, GA
- Surrounded by national retailers including: The Home Depot, Walmart, Chick-fil-A, CVS, Tractor Supply, Walgreens, Burger King, O'Reilly Auto Parts, among many others
- Proximity to Crisp Regional Hospital with over 400 employees