Family Dollar Strip
For sale117 May Ave, Lincolnton, GA 30817
Property type
Retail
Price
$975,000
Building size
9,380 sf
Rentable area
9,380 SF
Year built
1998
Year renovated
Occupancy
Zoning code
Lot size
1.13 Acres
CAP
8.30%
Price per SF
$103.94
Net Operating Income
$80,964
Property description
Franklin Street is pleased to present this Family Dollar strip in Lincolnton, Georgia. Lincolnton is located about 30 miles from Augusta and is the county seat of Lincoln County. The town's proximity to the nearby Savannah River and Clark's Hill Lake make it an important retail hub for visitors. Lincolnton is home to the county school system, with a combined 658 students between its Middle and High Schools. Family Dollar is well situated on the corner of Elm Street and May Avenue, which sees over 5,000 VPD. Family Dollar is one of the nation's leading discount retailers, with over 8,000 locations across the country. The immediate trade area has a healthy mix of national tenants including BP, Hardee's, Dollar General, the US Postal Office, and Texaco. Family Dollar recently extended their lease 10 additional years to 13+ years remaining, which showcases their strong commitment to this site. Family Dollar is very close to hitting their percentage rent breakpoint, allowing for additional future rental income. The 1,400 SF small shop space is occupied by a local vape shop and is leased at a below market rate of $8.57 PSF gross, allow for future potential rental upside.
Property highlights
- 25+ Year operating Family Dollar with multiple options exercised and recent 10 Year extension giving them 13 Years of firm term remaining
- Very Strong Store Metrics: $2.35M in Sales
- Proximity to Savannah River and Clark's Hill Lake allow the site to capture outside visitors
- Smaller mix of national tenants and no grocer options allow for Family Dollar to dominate immediate market
- Below market rents allowing for future upside
- Center of town location that out positions Dollar General