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(Dark) Family Dollar 5000 NC 704 Hwy E 9,180 SF Retail Building Sandy Ridge, NC 27046 $825,000 ($89.87/SF) 11.84% Cap Rate
Investment Highlights
- 11.84% going-in cap on corporate-guaranteed income (Family Dollar / Dollar Tree, S&P BBB)
- Low basis at roughly $90 per square foot, below replacement cost (2021 build)
- Rent secured through 1/31/2031, independent of store operations
- 10 Year Roof Warranty
Executive Summary
Single-tenant retail leased to Family Dollar (Dollar Tree, Inc., S&P BBB) on a corporate guaranty, priced at $825,000 for an 11.84% going-in return. Rent is secured in full through January 31, 2031 under the existing NN lease, independent of store operations, with landlord responsibility limited to roof and structure (2021-new, 10-year warranty). At roughly $90 per square foot the basis sits well below replacement cost, and Family Dollar has expressed interest in a lease buyout. The hard-corner site on NC-704 sits minutes from
Carrollwood Farms, the 8,000-acre equestrian and agritourism destination now under construction by billionaire developer Roy Carroll.
Carrollwood Farms, the 8,000-acre equestrian and agritourism destination now under construction by billionaire developer Roy Carroll.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,180 SF
Building Class
B
Year Built/Renovated
2020/2022
Price
$825,000
Price Per SF
$89.87
Cap Rate
11.84%
NOI
$97,675
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.71 AC
Zoning
None, County - Commercial
Parking
15 Spaces (1.63 Spaces per 1,000 SF Leased)
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 607004516542 | Improvements Assessment | $682,400 |
| Land Assessment | $51,400 | Total Assessment | $733,800 |
Property Taxes
Parcel Number
607004516542
Land Assessment
$51,400
Improvements Assessment
$682,400
Total Assessment
$733,800
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