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216 Park Ave NE, Wise, VA, 24293

FAMILY DOLLAR
$1,587,501

Key Information

Cap Rate
8%
Year Built
2016
Term Remaining
±7.5 YRS
Type
Retail
NOI
$127,000
Leasable Area
8,320

Highlights

  • 2016 build-to-suit construction for Family Dollar
  • Tenant recently extended their lease to a new full 10-year term
  • Strong corporately guaranteed lease
  • Six, 5-Year renewal options remaining; all of which include a 10% rent increases
  • Family Dollar has successfully operated at this location for almost 10 years extending their lease, proving their commitment to the location and market
  • Excellent retail corridor adjacent to many National retailors including Walmart, Harbor Freight Tools, Tractor Supply, Lowes, Game Stop, KFC, Arby’s, and many more.
  • 3-Mile population of ± 9,573 residents
  • 5-Mile population of ± 16,159 residents
  • Family Dollar, a major national discount retailer with more than 8,000 stores across 48 states, has been acquired for roughly $1 billion by Brigade Capital Management, Macellum Capital Management, and Arkhouse Management Co.
  • Now operating as an independent company, Family Dollar benefits from both fresh capital and significant retail expertise. This backing is expected to accelerate store upgrades and drive operational improvements. With its proven value-focused model and strong presence in local communities, Family Dollar continues to serve as a resilient anchor tenant, positioned for sustained growth in the years ahead.

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Location

Agents

Financing Agents

Broker of Record

Kyle Matthews

License # No. 226035518 (VA)
Matthews Real Estate Investment Services Inc.
1600 West End, Ste. 1500 Nashville, TN 37203