Bull Realty is pleased to offer for sale this established, single tenant, net lease Family Dollar, located in Bulls Gap, TN, approximately 58 miles north of Knoxville. Built in 1998, the store sits on a corner +/- 0.65 acre site. In September 2004 Family Dollar extended the initial term through December 2013 and a lease modification is in process to extend it again through December 2018.

The double net lease is guaranteed by Family Dollar. Rents as of January 2014 will be $27,600 annually, yielding an offered cap rate of 10.4%. The lease has three 5-year renewal options, each with a 10% rent increase. The lease modification in process will preserve percentage rents but provides a termination right effective December 31, 2016. Taxes and insurance are fully reimbursed by the tenant.

Family Dollar is one of the fastest growing discount