Family Dollar Tree
Closed444 W Bacon St, Pembroke, GA 31321
Property type
Retail
Unit / Space count
1
Price
$1,805,000
Building size
10,500 sf
Rentable area
10,500 SF
Year built
2023
Year renovated
Occupancy
Zoning code
Lot size
1.12 Acres
Sold/status
Sold · Date unknown
Sale price
$1805000
CAP
6.80%
Net Operating Income
$122,745
Property description
Franklin Street is pleased to present this new construction Family Dollar Tree combo store in Pembroke, Georgia. Pembroke is the county seat of Bryan County which is home to more than 45,000 residents and 35 miles from Savannah. The area is growing due to the strong logistics growth in the surrounding counties to Savannah due to the port growth. They have recently unveiled plans to expand the port’s container capacity by 60 percent. The enhancements will bring the Port of Savannah’s annual capacity from 6 million twenty-foot equivalent container units to 9.5 million TEUs by 2025. Historically, small towns have had very limited retail options. Shoppers often travel long distances to meet all of their shopping needs. The Family Dollar Tree concept is changing that and bringing savings and convivence to rural families nationwide. They already have 3,000+ locations open with the concept and another 3,000+ locations identified. It is a brand they are fully committed to. The lease allows an owner a passive investment, as the only landlord responsibilities are to the roof and structure of the building, which there are transferable warranties. The location is on the towns main retail drag with other national retailers including Food Lion, Dollar General, Dairy Queen, and McDonald's.
Property highlights
- Brand new 2023 built-to-suit for Family Dollar Tree with New 10-year lease
- Proven Success: Compared to current small-market locations, the Combo Store is delivering comp sales that exceed 20%, which means higher gross profit margins and improved operating income
- Corporately guaranteed lease by investment grade tenant: BBB by S&P
- NNN Lease with minimal landlord responsibilities being only roof and structure
- Average household income of $74,782 (considered to be Family Dollar’s sweet-spot)
- Five, 5-Year options which include a $0.50 PSF rent increase
- Dollar Tree acquired Family Dollar in 2015 and they are considered to be the nation’s second largest discount retailer with more than 15,500 locations combined
- Located within a mile from the county elementary, middle, and high schools with ~2,000 students