This Retail Property is Off-Market.

576 Cherry Lane
White Settlement, TX 76108 ·

23,940 SF · Retail For Sale

N/A

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Family Dollar Portfolio

Price N/A Cap Rate 8.25%
Building Size 23,940 SF Tenancy Single
Property Type Retail Year Built 2001
Property Sub-type Free Standing Bldg Lot Size 1 AC
Property Use Type Investment
Listing ID: 14266823 Date Created: 07/12/2005 Last Updated: 05/01/2006

Description

Marcus & Millichap is proud to present this three store portfolio of Family Dollar Stores located in White Settlement, TX (Fort Worth), Tulsa, OK & Bartlesville, OK. All three stores were built in 2001 and have non-recourse financing in place. The debt requires a down payment of $947,708 plus a 1% assumption fee.

All of the leases offer a 10% rental increase during each of the four, five-year options and a percentage rent clause that allows for 3% over the sales breakpoint.

Please be advised that this portfolio is being priced on a rental increase that will occur in December 2006. The Seller will reimburse a Buyer the total monthly difference in rent between the closing date and the rental increase date.

White Settlement is a suburb of Fort Worth, TX, which has a population of 533,300 in the city and 1,772,000 in the metro area. The site is located approximately one mile south of Lockheed, which added 6,500 employees this last year. Carswell Air Force Base is located a short distance east. There are numerous local commercial tenants in the area. This site was selected due to the closing of the K-Mart store and Lockheed having a large increase in employment. Local retailers within a mile of the subject property include: Wal-Mart Supercenter, Sam's Club, Dollar General, Sonic Drive-In, Taco Bell and Popeye's.

Bartlesville has a population of 39,472. This site is located on the primary access route to downtown from the west. Occupants within 2 blocks include O'Reilly's Auto Parts, Dollar General, Conoco Station, Bartlesville Inn, GM Car Dealership and Sonic.
Tulsa is a city made for touring, whether by foot for a few hours during the afternoon or by automobile for a day trip around town. This is a very popular established are for various commercial uses.

Highlights

  • Portfolio of Three Family Dollar Stores
  • Non Recourse Financing In Place (1% Assumption Fee
  • Family Dollar Operates Over 5,600 Locations
  • 10% Rent Increases During Each Option

Research

576 Cherry Lane, White Settlement, TX 76108 (Tarrant County)

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