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OFFERING MEMORANDUM
FAMILY DOLLAR 455 VAN HILL RD, BAILEYTON, TN 37745
Representative Photo
OFFERING MEMORANDUM | Family DollarP. 2 Matthews Retail Advisors
INVESTMENT HIGHLIGHTS
Dollar
Representative Photo
• Strong 9.75% cap rate
• Proven location for Family Dollar
• Approximately 3 years remaining on a NN lease
• 4 - 5 Year extension options
• 25% rent increase in the first option
• Minimal landlord responsiblity
• Landlord responsible for roof and structure
• Tenant responsible for parking lot maintenance
• Tenant responsible for HVAC units
• Corporate signature lease
• Ideal average household income for
Family
Matthews Retail Advisors P. 3Family Dollar | OFFERING MEMORANDUM
PRICING ANALYSISEXECUTIVE SUMMARY
FAMILY DOLLAR455 VAN HILL RD BAILEYTON, TN 37745
Annualized Operating Data
Tenant Summary
Representative Photo
...........................................................................9,180 SFLot Size ........................................................................0.72 Acres (31,363 SF)Year Built ...................................................................................................... 2005
...................................................................................9.25%Gross Leasable Area
List Price .............................................................................................. $537,500CAP Rate - Current
Monthly Rent Annual Rent Rent/SF CAP Rate
Current - 12/31/2018 $4,143.34 $49,720.08 $5.42 9.25%
Option 1 - 12/31/2023 $5,179.17 $62,150.04 $6.77 11.87%
Option 2 - 12/31/2028 $5,697.09 $68,365.08 $7.45 13.06%
Option 3 - 12/31/2033 $6,266.84 $75,202.08 $8.19 14.37%
Option 4 - 12/31/2038 $6,893.50 $82,722.00 $9.01 15.81%
Tenant Trade Name Dollar Tree, Inc.
Type of Ownership Fee Simple
Lease Signature Corporate
Lease Type NN
Roof and Structure Landlord Responsible
Original Lease Term 10 Years
Rent Commencement Date 2005
Lease Expiration Date 6/30/2021Term Remaining on Lease 3 Years
Increases 25% In Option 1 & 10% In Options 2 - 4
Options 4 - 5 Year
OFFERING MEMORANDUM | Family DollarP. 4 Matthews Retail Advisors
COMPANY OVERVIEW
Property Name Family Dollar
Property Type Net Leased Discount Store
Parent Company Trade Name Family Dollar
Ownership Public
Credit Rating BBB-
Rating Agency Standard & Poor’s
Revenue $10.49B
Net Income $284.5M
Stock Symbol FDO
Board NYSE
No. of Locations ± 8,100
No. of Employees ± 50,000
Headquartered Matthews, NC
Web Site www.familydollar.com
Year Founded 1959
Family Dollar Stores, Inc. operates a chain of self-service retail discount
stores primarily for low- and middle-income consumers in the United
States. Its merchandise assortment includes consumables, such as
household chemicals, paper products, food products, health and beauty
aids, hardware and automotive supplies, pet food and supplies, and
tobacco; and home products comprising blankets, sheets, towels,
housewares, giftware, and home décor products. The company also
provides apparel and accessories consisting of men’s and women’s
clothing products, boys’ and girls’ clothing products, infants’ clothing
products, shoes, and ashion accessories; and seasonal and electronic
products, such as toys, stationery and school supplies, and seasonal
goods, as well as personal electronics, including pre-paid cellular phones
and services. As of April 10, 2013, it operated approximately 7,600 stores in
45 states.
Matthews Retail Advisors P. 7Family Dollar | OFFERING MEMORANDUM
PROPERTY DESCRIPTIONPHYSICAL DESCRIPTION
THE OFFERING
Property Name .................................................................................. Family Dollar
Property Address .........................................................................455 Van Hill Rd
Greeneville, TN 37745
Assessor’s Parcel Number ...........................................................018N-A-021.01
Zoning .....................................................................................................................B2
SITE DESCRIPTION
Number of Stories .............................................................................................One
Year Built ........................................................................................................... 2005
Gross Leasable Area (GLA) .....................................................................9,180 SF
Lot Size............................................................................... 0.72 Acres (31,363 SF)
Type of Ownership ...............................................................................Fee Simple
Parking ..................................................................................... 30 Surface Spaces
Parking Ratio...................................................................................3.27 : 1,000 SF
Landscaping ........................................................................................Professional
Topography ................................................................................... Generally Level
CONSTRUCTION
Foundation .......................................................................................Concrete Slab
Parking Surface ............................................................................................Asphalt
Roof ........................................................................................................................Flat
Representative Photo
OFFERING MEMORANDUM | Family DollarP. 8 Matthews Retail Advisors
BIRDS EYE
Matthews Retail Advisors P. 9Family Dollar | OFFERING MEMORANDUM
PROPERTY DESCRIPTIONREGIONAL MAP
OFFERING MEMORANDUM | Family DollarP. 10 Matthews Retail Advisors
TENANT MAP
Baileyton RV Park
Around PondRV Park
Baileyton ElementarySchool
Pizza Plus
Capital Bank
Subway
BP Gas Station
Family Dollar | OFFERING MEMORANDUM
DEMOGRAPHIC ANALYSIS
Population 3-Mile 5-Mile 10-Mile2020 Projection 1,609 4,121 22,5802015 Estimate 1,603 4,118 22,4732010 Census 1,614 4,173 22,7442000 Census 1,450 3,896 21,194Growth 2000-2010 0.36% 0.07% 0.48%Growth 2010-2015 -0.65% -1.31% -1.19%Growth 2015-2020 11.26% 7.10% 7.31%
Households2020 Projection 677 1,730 9,1572015 Estimate 675 1,723 9,1022010 Census 679 1,734 9,1892000 Census 603 1,606 8,641Growth 2000-2010 0.39% 0.40% 0.61%Growth 2010-2015 -0.54% -0.64% -0.94%Growth 2015-2020 12.53% 7.98% 6.34%
Income$0 - $15,000 17.04% 15.50% 15.88%$15,000 - $24,999 19.69% 18.77% 16.78%$25,000 - $34,999 12.60% 15.69% 15.98%$35,000 - $49,999 19.34% 17.96% 17.10%$50,000 - $74,999 15.26% 13.82% 16.09%$75,000 - $99,999 9.48% 9.73% 9.17%$100,000 - $124,999 4.69% 5.50% 5.38%$125,000 - $149,999 1.57% 2.19% 2.02%$150,000 - $199,999 0.24% 0.62% 1.06%$200,000 - $249,999 0.02% 0.11% 0.28%$250,000 - $499,999 0.06% 0.11% 0.24%$500,000+ 0.00% 0.00% 0.03%2015 Est. Average Household Income $43,066 $45,280 $46,8822015 Est. Median Household Income $35,510 $35,038 $36,196