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Family Dollar 2901 Jefferson Ave 9,180 SF Retail Building Newport News, VA 23607 $1,848,500 ($201.36/SF) 7% Cap Rate
Investment Highlights
- 6.5+ Years Remaining | Corporate Guaranteed Lease.
- High Performing Location | Top 13% of Stores Throughout the State of Virginia.
- Absolute NNN Lease Structure | Zero Landlord Responsibilities.
- Prime Outparcel Location to Brooks Crossing | $18.3M Mixed Use Development.
Executive Summary
Family Dollar now operates within a combined network of over 13,600 stores across 48 U.S. states and five Canadian provinces under the Dollar Tree and Family Dollar banners. With $17.6B in sales in 2024 and a BBB credit rating from S&P and a Baa2 rating from Moody's, Dollar Tree is considered an investment grade tenant.
Strategically located in Newport News, the property benefits from superior visibility, signage and access with traffic counts exceeding 10,500 vehicles per day. The nearby surrounding retail space includes national tenants such as McDonald's, Burger King, Dunkin', Wendy's, Hardee's, LongHorn Steakhouse, Cava, and many others.
With its strong real estate fundamentals, triple-net lease structure, corporate guarantee and premier location, this offering truly represents a passive, low-risky opportunity.
6.5+ Years Remaining | Corporate Guaranteed Lease
Family Dollar has over 6.5-Years of lease term on a 15-Year lease with six (6) 5-year extension options
The lease is corporate signed from Family Dollar Stores, Inc.
The lease includes 10% rent increases in Year 11, and 10% in each option thereafter
Absolute NNN Lease Structure | Zero Landlord Responsibilities
Tenant pays for Taxes, Insurance, CAM, and maintains all aspects of the building including roof, structure, and parking lot
Zero Landlord Responsibilities
Ideal Management Free Asset for a Passive Investor
High Performing Location | Top 13% of Stores Throughout the State of Virginia
Family Dollar experiences over 150,000 annual visits, and is the 5th most visited store within a 15-mile radius
This store ranks in the top 78th percentile of Family Dollars nationwide, and top 87th percentile of Family Dollars throughout Virginia
One of Family Dollar's top performing locations throughout the entire country
Prime Outparcel Location to Brooks Crossing | $18.3M Mixed Use Development
Brooks Crossing is a mixed-use development anchored by a Piggly Wiggly Grocery Store, an features state of the art facilities for STEM Labs, Training Centers, Office Spaces, and Amenities
The Town of Newport News invested over $18.3 Million into the project in order the revitalize the Southeast community
Family Dollar sits on the entrance to the 100,000+ SF development, and experiences over 10,500+ Vehicles Per Day along Jefferson Avenue
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Jun 2032
Family Dollar is a national discount retail chain headquartered in Chesapeake, Virginia, operating as a subsidiary of Dollar Tree since 2015. The company provides affordable everyday merchandise including household goods, groceries, cleaning supplies, apparel, health and beauty products, and seasonal items. Originally founded in 1959 in Charlotte, North Carolina, Family Dollar expanded rapidly through the Southeast and later nationwide. After its acquisition by Dollar Tree, the corporate headquarters transitioned to Chesapeake, though Family Dollar continues to maintain major operations and a distribution presence in Matthews and Charlotte, North Carolina. The Chesapeake headquarters supports executive leadership, merchandising, supply chain, operations, and administrative functions for thousands of Family Dollar stores across the United States. The brand focuses on neighborhood convenience, operating small-format stores that emphasize essential products at low prices.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jun 2032 |
Property Taxes
| Parcel Number | 305.04-04-61 | Improvements Assessment | $1,270,400 |
| Land Assessment | $314,100 | Total Assessment | $1,584,500 |
Property Taxes
Presented by
Family Dollar | 2901 Jefferson Ave
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