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8699 Richlands Hwy
Richlands, NC 28574

$1,388,000

Freestanding For Sale  •  9,180 Sq Ft

Property Details

  • Property Type Freestanding
  • Total Building Size 9,180 Sq Ft
  • Lot Size 0.92 ac
  • Building Class B
  • Year Built 2013
  • Cap Rate 8.75 %
  • Tenancy Single
0 Transit Score
45 Walk Score

Description

RTP Capital Advisors is pleased to present Family Dollar in Richlands, NC, located within the Jacksonville MSA. This investment opportunity offers an 8.75% cap rate for an investment grade credit tenant with a corporate guaranty and just under four years remaining on a NN lease.

Family Dollar Stores, Inc was acquired by Dollar Tree, Inc (NASDAQ: DLTR) in July 2015, which today represents approximately 15,000 stores across 48 states and Canada. Dollar Tree is a Fortune 200 Company, and according to their 2018 Annual Report, they reported over $22 billion in net sales delivering their 44th consecutive quarter of positive same-store sales.

Family Dollar is located on the primary commercial corridor and is within approximately a mile of Richlands schools, Town Hall, Onslow County Museum, and significant retailers such as Walmart Supercenter, Food Lion, Dollar General, and numerous well-known restaurants, such as McDonald’s. The Bojangles and Verizon Wireless across the street, as well as the Walmart Supercenter and Taco Bell nearby, were all recently built demonstrating growth and demand in the immediate area.

Richlands, NC is a growing submarket just outside of Jacksonville, NC, the county seat and home to the US Marine Corps’ Camp Lejeune, where an estimated $3 billion in commerce is generated each year. It was previously ranked as one of the fastest growing small cities in the US, according to Forbes.

Family Dollar, in the Jacksonville MSA, offers investors a corporate guaranteed NN leased asset with just under four years remaining. We are pleased to present this investment opportunity for $1,388,000 at an 8.75% cap rate.

Highlights

8.75% Cap Rate with Minimal Landlord Responsibilities
Family Dollar: Corporate Guaranteed, Investment Grade Credit Tenant
Located on Primary Commercial Corridor with Major Demand Drivers in Close Proximity
Just Outside of Jacksonville, NC: One of Forbes’ Fastest Growing Small Cities

Financial Summary

Cap Rate: 8.75 %

Public Transportation

AirportDriveWalkDistance
Albert J. Ellis Airport 21 min - 7.4 mi
Raj Ravi 919-808-2801 RTP Capital Advisors
Raj Ravi 919-808-2801 RTP Capital Advisors