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Family Dollar - Okemah, OK

(Representative Photo Above)
The subject property has eleven years currently remaining on the double net-lease that expires June 30th, 2027. The tenant recently extended for another 10 years, showing commitment to the location. The lease is corporately guaranteed by Family Dollar and has 2 more five-year renewal options remaining with rental increases in each renewal. Furthermore, the Lease calls for percentage rent of 3% to be paid out above store sales of $1.2M in the ten year extension and $1.5M & $1.66M in the further 5-Year extension. Store sales for the 2015 fiscal year were over $989K and are expected to increase in 2016.

The building was built in 1960 - it is a block construction, which makes it a more attractive investment when compared to the build-to-suit metal structures. The building was fully renovated in 2006 when Family Dollar first took possession of the building. Furthermore, in 2016 the building's roof was completely redone. The roof comes with a 15-Year Warranty.

Family Dollar is an American variety store chain in the United States. With 8,100 locations, it is the second largest retailer of its type in the United States. Family Dollar is headquartered in Matthews, a suburb of Charlotte, North Carolina, where it employs 1,400 people.

Additional Info

  • Address: : 117 North 5th Street, Okemah, OK 74859
  • Price: : $475,000
  • Net Rentable Area: : 8,400
  • Lot Size (Acres): : 0.68
  • CAP Rate: : 8.21%
  • NOI: : $39,000
  • Year Built: : 1960/2016
  • Status: : Available