Family Dollar

Family Dollar

Family Dollar
4902 E. Hillsborough Avenue
Tampa, FL 33610

$1,166,000

Cap Rate 7.50%
Gross Leasable Area (GLA) 10,000 Sq.Ft.
Price Per Square Foot (GLA) $116
Year Built 2002
Lot Size 1.15 Acres

• Corporate Backed Guarantee | S&P Credit Rating BB

• Double-Net Lease | Minimal Landlord Responsibility

• Population of Approximately 226,397 Within a Five Mile Radius

• Three, Five-Year Options Remaining

• Annual Unit Sales Over $1,400,000 in 2015
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Family Dollar (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to exclusively offer for sale this 10,000-square foot freestanding Family Dollar located in Tampa, Florida. The property lies on busy East Hillsborough Avenue with a traffic count in excess of 44,000 cars on average daily. The property is well located just two miles west of Interstate 75 and three miles east of Interstate 275. The property caters to the local residents and businesses with a dense population of 226,397 people and an average household income of $45,577 within a five mile radius. These demographics are ideal for Family Dollar as the average income for family dollar customers is $44,972.

Family Dollar has been at this location for almost 15 years and has two years remaining on their first, five-year option and three additional five-year options with 10 percent increases at the onset of each. The lease is backed by a corporate guarantee with Family Dollar, which has an S&P credit rating of BB.  This is a perfect opportunity for an investor to pick up a passive cash flow asset.  It is in a strong location with limited management responsibility.  When you consider store sales, this location collected over $1.4M in 2015, while the average Family Dollar store takes in about $1.2M annually. The sales are just a testament to how well the store does and an indication that Family Dollar will exercise their next five-year option.

The property is located at the heart of Tampa, sitting 5 miles north of downtown, the University of Tampa, and the historic Ybor City. Just 5 miles north of the property sits the University of South Florida, which is the fourth largest public university in the state of Florida with a total enrollment of 48,373 students. The property is only 2 miles west of the Seminole Hard Rock Casino, Mid Florida Credit Union Amphitheatre, and the Florida State Fairground, which attracts over 7-million visitors each year. In addition, 7 miles east of the property is Raymond James Stadium, the home of the Tampa Bay Buccaneers

For More Information, Please Contact:

Dana Speer

Associate
813-387-4838
Dana.Speer@MarcusMillichap.com