Property Listing No Longer Available for Sale

491 Highway 11E, Bulls Gapp, TN

Retail for Sale - $265,000 - 7,000 Sq. Ft. on 65 acres


Property Info

CIMLS#433443
Location
  491 Highway 11E
  Bulls Gapp TN 37711
UpdatedJune 28th, 2013
TypeRetail
Price$265,000
Building7,000 Sq. Ft.
Land65 acres

Property Description

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 “small box” retailers in the country with over 7,600 stores in 45 states. Family Dollar posted a 12.7% increase in net sales for first quarter 2013 from $2.15 billion in first quarter 2012 to $2.42 billion. The chain opened 125 new stores during the quarter. Family Dollar opened 475 new store in fiscal 2012 and expects to open a total of approximately new 500 stores in fiscal 2013.

Please contact Nancy or Sheree for additional details regarding this property.

Please Contact:

Nancy Miller, CCIM, MBA

Nancy@BullRealty.com

404.876.1640 x 118

Sheree Strome Berk, CCIM

Sheree@BullRealty.com

404.876.1640 x 122



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