Fdw Package

8/14/2019 Fdw Package

1/12

Smith Attaway

Family DollarWare Shoals, SC

Investment Overview

Transactional Excellence

Representational Picture


2/12

Family DollarTable of Contents

Pages Section Title

1 Asset Overview

2 Asset Financials

3 Lease/Tenant Overview4 Financing Terms

5 Comparables

6 Competition Map

7 Demographic Report

The information herein is believed to be true, however Smith Attaway LLC will not represent any information

herein. It is up to Individual investors to VERIFY ALL information prior to making an investment decision


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Deal Overview

The Subject property is a Property is a Family Dollar located in the Greenville, SC MSA. Specifically Ware Shoals, SC, Which is located

South of Greenville in Greenwood County. The property was developed for Family Dollar in the Spring 2008. In the Year and a Half that

the store has been open it has become a top 10 store in the State of South Carolina (there are 203 total store in SC), in terms of store sales.

The Lease is guaranteed by Family Dollar Inc through June 2017. Family Dollar Inc. has a net worth of over $4,100,000,000 and last year

produced sales revenues in excess of $7,800,000,000. After the Original lease term expires Family Dollar has two five year options to

extend there lease. During each of those option periods Family Dollars rent will increase by 10% each five years.

The Things the Buyer is going to need to get comfortable with are as follows:

1.) Flat 10 Year Lease- Family Dollar signed a flat 10 year lease in June of 2008. There will not be an opportunity to increase the NOI on

the property until Family Dollar exercises there first option. While there is no Guarantee that the Family Dollar will exercise there option

we do know that the store is in the top 10 in the state out of 203 store, which would make it seem fairly likely that they would exercise the

option.

2.) Location: Ware Shoals is not a major city it's a small town suburb of Greenville, SC which is one of the fastest growing cities in the

country. Its the ideal town for a Family Dollar store as there is a large working class population and very little competition. The city ofWare Shoals has only one grocery store and no other dollar store competition, which has helped lead to the strong store sales. Greenville

and Ware Shoals are both going to continue to grow as more business, and retirees come to South Carolina for the higher quality of life at

a lower price

On the following pages you will find a detailed financial overview of this asset including information on both Family dollar Corporate.

Should you have any further questions please feel free to contact us. Thank you for your interest and we look forward to hearing from you

in the near future

Best regards,

Andrew Ackerman

Co-Founder/PresidentSmith Attaway Company

(770)842-6904

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to Individual investors to

VERIFY ALL information prior to making an investment decision


4/12

Financial & Tenant Summary

Net Operating Income

Expenses

Effective Gross Income

Square Feet

Price Per Square Foot

Cap RatePrice $799,333

9.00%

$71,940

Loan Summary

Financial Summary

Loan to Value 75%

$87

9,180

$73,440

$1,500

Down PaymentInterest Rate

Amortization (Years)

Term (Years)

Annual Debt Service

Cash flow after Debt Service $16,165

55,775

5

20

7.00%$599,499

8.09%Cash on Cash Return

Tenant Summary

Tenant Name:Corporate Guarantee

Publicly Traded

Years in Business

Number of Locations

Credit Rating BBB-

6,655

50 Years

Yes

YesFamily Dollar

6/1/2008Lease Commencement

Lease Summary

Lease Type

Rent Increases during Option periodsOption Periods (With CPI Increase)

Lease Expiration 6/30/2017

Two (2) X Five (5) year options10%

Triple Net (NNN)

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to

Individual investors to VERIFY ALL information prior to making an investment decision


5/12

Lease Overview

Tenant Name Family Dollar

Building Size (Sqft) 9,180

$73,440

$8.00

6/1/2008

6/30/2017

10 Years

8 Years

No

Yes

6,655

6,655

Yes

$4.1 Billion

$1.8 Billion

Triple Net (NNN)

CAM, Taxes, Insurance

Roof, Structure & Parking lot

6/1/2008

Annual Rent

Rent Per Square foot

Lease Commencement

Lease Expiration

Lease Term

Term Remaining on lease (Years)

Franchisee/licensee

Corporate Guarantee

Number of Stores

Number of Company Owned

Publicly Traded

Net Worth

Sales Revenue

Lease Type

Tenant Responsibility

Landlord Responsibility

Year Built

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to

Individual investors to VERIFY ALL information prior to making an investment decision


6/12

Leverage: 75%

Price $799,333

Equity Required: 25% $599,499

Loan Amount $199,834

Prime Interest Rate 3.25%

Add'l BP 3.75%Interest Rate 7.00%

Term 5

Amortization 20

Origination Fee $5,995

Debt Coverage Ratio 1.29

Annual Debt Service $55,775

Cash Flow After Debt Service $16,164.99

Cash on Cash Return 8.09%

*** Loan information may vary depending on the financial strength of the purchaser and the

financial markets fluctuating all perspective purchasers should speak to their bankers to obtain

an accurate loan quote.

Prospective Loan

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It

is up to Individual investors to VERIFY ALL information prior to making an investment decision


7/12

Cap Rate Comparison

7.40%7.60%7.80%8.00%8.20%8.40%8.60%8.80%9.00%9.20%

Subject Property Belleville, IL Family

Dollar

Center, CO Family

Dollar

Detriot, MI Family

Dollar

Jeanerette, LA Family

Dollar

Cockrell, TX Family

Dollar

Akron, OH Family

Dollar

Property

CapRate

Lease Term Remaining Comparison

0

2

4

6

810

Subject Property Belleville, IL FamilyDollar

Center, CO FamilyDollar

Detriot, MI FamilyDollar

Jeanerette, LA FamilyDollar

Cockrell, TX FamilyDollar

Akron, OH FamilyDollar

Property

LeaseTermRemainin

g

Price Per Square Foot Comparison

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00


Dollar

Center, CO Family

Dollar

Detriot, MI Family

Dollar

Jeanerette, LA

Family Dollar

Cockrell, TX Family

Dollar

Akron, OH Family

Dollar

Property

PricePerSF

Rent Comprables

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00


Dollar

Center, CO Family

Dollar

Detriot, MI Family

Dollar

Jeanerette, LA Family

Dollar

Cockrell, TX Family

Dollar

Akron, OH Family

Dollar

Property

RentPerSF

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to Individual investors to VERIFY ALL information prior tomaking an investment decision


8/12

Investment Highlights

8% Cash on Cash Return

Top 5 Store in South Carolina In Terms of

Store Sales

Rent Increases in the Option

Periods Concrete Parking Lot

Brand New Construction

Family Dollar Corporate Guarantee ($4.1

Billion Dollar Guarantee)

Location Highlights

Located In Greenville MSA

No Competition From Dollar Store

Competitors

Located in the Center Heart of

Ware Shoals, SC

Located in one of the Fastest Growing States

in the Country

0




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O c t o b e r 2 0 0 8 o n : - 8 2 . 2 2 9 0 1 8 / L a t : 3 4 . 3 8 1 4 4 9

3 9 G r e e n w o o d A v e 1 . 0 0 M i l e 3 . 0 0 M i l e s 5 . 0 0 M i l e s

W a r e S h o a l s , S C

o p u l a t i o n

P o p u l a t i o n ( 1 9 9 0 ) 5 0 2 3 , 4 0 3 6 , 6 6 5

P o p u l a t i o n ( 2 0 0 0 ) 4 9 5 3 , 4 8 1 7 , 1 9 4

E s t i m a t e d P o p u l a t i o n ( 2 0 0 8 ) 4 9 6 3 , 4 3 1 7 , 0 7 4

P r o j e c t e d P o p u l a t i o n ( 2 0 1 3 ) 4 9 0 3 , 3 6 9 6 , 9 4 7

F o r c a s t e d P o p u l a t i o n ( 2 0 1 8 ) 4 8 7 3 , 3 0 5 6 , 8 0 7

H i s t o r i c a l A n n u a l G r o w t h ( 1 9 9 0 - 2 0 0 0 ) - 7 - 0 . 1 % 7 9 0 . 2 % 5 2 9 0 . 8

H i s t o r i c a l A n n u a l G r o w t h ( 2 0 0 0 - 2 0 0 8 ) 0 0 . 0 % - 5 0 - 0 . 2 % - 1 2 0 - 0 . 2

H i s t o r i c a l A n n u a l G r o w t h ( 2 0 0 8 - 2 0 1 3 ) - 6 - 0 . 2 % - 6 2 - 0 . 4 % - 1 2 7 - 0 . 4

E s t . P o p u l a t i o n D e n s i t y ( 2 0 0 8 ) 1 6 2 . 6 8 p s m 1 2 3 . 4 6 p s m 9 1 . 6 8 p s m

T r a d e A r e a S i z e 3 . 0 5 s q m i 2 7 . 7 9 s q m i 7 7 . 1 5 s q m i

R a c e & E t h n i c i t y ( 2 0 0 8 )

N o n H i s p a n i c : W h i t e 3 7 0 7 4 . 7 % 2 , 5 4 0 7 4 . 0 % 5 , 4 6 9 7 7 . 3

N o n H i s p a n i c : B l a c k / A f r i c a n A m e r i c a n 1 0 0 2 0 . 3 % 7 4 0 2 1 . 6 % 1 , 3 2 5 1 8 . 7

N o n H i s p a n i c : A s i a n & P a c i f i c I s l a n d e r 2 0 . 4 % 1 0 0 . 3 % 2 2 0 . 3

N o n H i s p a n i c : A m e r I n d i a n & A K N a t i v e 2 0 . 3 % 6 0 . 2 % 1 2 0 . 2

N o n H i s p a n i c : O t h e r R a c e 1 6 3 . 3 % 9 5 2 . 8 % 1 5 1 2 . 1

H i s p a n i c : W h i t e 4 0 . 9 % 3 4 1 . 0 % 8 3 1 . 2

H i s p a n i c : B l a c k / A f r i c a n A m e r i c a n 1 0 . 2 % 6 0 . 2 % 1 0 0 . 1

H i s p a n i c : A s i a n & P a c i f i c I s l a n d e r 0 0 . 0 % 0 0 . 0 % 0 0 . 0

H i s p a n i c : A m e r I n d i a n & A K N a t i v e 0 0 . 0 % 0 0 . 0 % 0 0 . 0

H i s p a n i c : O t h e r R a c e 0 0 . 0 % 0 0 . 0 % 0 0 . 0

e m o g r a p h i c S o u r c e : A p p l i e d G e o g r a p h i c S o l u t i o n s / T I G E R G e o g r a p h y

1 . 0 0 M i l e

1 9 9 0 2 0 0 0 2 0 0 8 2 0 1 3 2 0 1 8

4 8 24 8 44 8 64 8 84 9 04 9 24 9 44 9 64 9 85 0 05 0 2

5 0 43 . 0 0 M i l e s

1 9 9 0 2 0 0 0 2 0 0 8 2 0 1 3 2 0 1 8

3 , 2 6 0 3 , 2 8 0 3 , 3 0 0 3 , 3 2 0 3 , 3 4 0 3 , 3 6 0 3 , 3 8 0 3 , 4 0 0 3 , 4 2 0 3 , 4 4 0 3 , 4 6 0 3 , 4 8 0

3 , 5 0 0 5 . 0 0 M i l e s

1 9 9 0 2 0 0 0 2 0 0 8 2 0 1 3 2 0 1 8

6 , 5 0 0

6 , 6 0 0

6 , 7 0 0

6 , 8 0 0

6 , 9 0 0

7 , 0 0 0

7 , 1 0 0

7 , 2 0 0

7 , 3 0 0

1 . 0 0 M i l e

7 5 %

0 %

2 0 %

0 %3 %1 %

3 . 0 0 M i l e s

7 4 %

0 %

2 2 %

0 %3 %1 %

5 . 0 0 M i l e s

N H W h i t e

N H A s i a n

N H B l a c k

N H A m e r I n d i a n

N H O t h e r R a c e

H i s p a n i c s 7 7 %

0 %

1 9 %

0 %2 %1 %


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O c t o b e r 2 0 0 8 o n : - 8 2 . 2 2 9 0 1 8 / L a t : 3 4 . 3 8 1 4 4 9

7 3 9 G r e e n w o o d A v e 1 . 0 0 M i l e 3 . 0 0 M i l e s 5 . 0 0 M i l e s


A g e D i s t r i b u t i o n ( 2 0 0 8 )

T o t a l P o p u l a t i o n 4 9 6 3 , 4 3 1 7 , 0 7 4

A g e 0 t o 4 y r s 3 7 7 . 5 % 2 4 1 7 . 0 % 4 7 2 6 . 7

A g e 5 t o 9 y r s 3 6 7 . 3 % 2 3 7 6 . 9 % 4 6 4 6 . 6

A g e 1 0 t o 1 4 y r s 3 4 7 . 0 % 2 3 9 7 . 0 % 4 6 4 6 . 6

A g e 1 5 t o 1 9 y r s 3 0 6 . 0 % 2 1 4 6 . 2 % 4 3 6 6 . 2

A g e 2 0 t o 2 4 y r s 2 6 5 . 3 % 1 8 3 5 . 3 % 4 0 0 5 . 7

A g e 2 5 t o 2 9 y r s 2 8 5 . 7 % 2 0 8 6 . 0 % 4 3 9 6 . 2

A g e 3 0 t o 3 4 y r s 2 4 4 . 9 % 1 6 9 4 . 9 % 3 7 7 5 . 3

A g e 3 5 t o 3 9 y r s 2 3 4 . 7 % 1 9 1 5 . 6 % 4 0 8 5 . 8

A g e 4 0 t o 4 4 y r s 3 9 7 . 8 % 2 4 6 7 . 2 % 5 1 4 7 . 3

A g e 4 5 t o 4 9 y r s 3 5 7 . 1 % 2 6 0 7 . 6 % 5 3 9 7 . 6

A g e 5 0 t o 5 4 y r s 3 3 6 . 6 % 2 4 9 7 . 3 % 5 3 2 7 . 5

A g e 5 5 t o 5 9 y r s 2 9 5 . 8 % 2 2 4 6 . 5 % 5 1 3 7 . 3

A g e 6 0 t o 6 4 y r s 3 2 6 . 5 % 1 9 8 5 . 8 % 4 1 2 5 . 8

A g e 6 5 t o 6 9 y r s 1 8 3 . 6 % 1 4 2 4 . 1 % 3 0 6 4 . 3

A g e 7 0 t o 7 4 y r s 1 9 3 . 7 % 1 2 7 3 . 7 % 2 5 9 3 . 7

A g e 7 5 t o 7 9 y r s 2 0 4 . 1 % 1 1 9 3 . 5 % 2 1 2 3 . 0

A g e 8 0 t o 8 4 y r s 1 2 2 . 5 % 7 3 2 . 1 % 1 3 9 2 . 0

A g e 8 5 y r s p l u s 1 9 3 . 9 % 1 1 2 3 . 3 % 1 8 8 2 . 7

M e d i a n A g e 4 0 . 0 y r s 3 9 . 7 y r s 3 9 . 7 y r s


M a l e F e m a l e

0 - 4

5 - 9

1 0 - 1 4

1 5 - 1 9

2 0 - 2 4

2 5 - 2 9

3 0 - 3 4

3 5 - 3 9

4 0 - 4 4

4 5 - 4 9

5 0 - 5 4

5 5 - 5 9

6 0 - 6 4

6 5 - 6 9

7 0 - 7 4

7 5 - 7 9

8 0 - 8 4

8 5 +

0 1 0 2 0

M a l e F e m a l e

0 - 4

5 - 9

1 0 - 1 4

1 5 - 1 9

2 0 - 2 4

2 5 - 2 9

3 0 - 3 4

3 5 - 3 9

4 0 - 4 4

4 5 - 4 9

5 0 - 5 4

5 5 - 5 9

6 0 - 6 4

6 5 - 6 9

7 0 - 7 4

7 5 - 7 9

8 0 - 8 4

8 5 +

0 4 0 8 0 1 2 0 1 6 0

M a l e F e m a l e

0 - 4

5 - 9

1 0 - 1 4

1 5 - 1 9

2 0 - 2 4

2 5 - 2 9

3 0 - 3 4

3 5 - 3 9

4 0 - 4 4

4 5 - 4 9

5 0 - 5 4

5 5 - 5 9

6 0 - 6 4

6 5 - 6 9

7 0 - 7 4

7 5 - 7 9

8 0 - 8 4

8 5 +

0 7 0 1 4 0 2 1 0 2 8 0 3


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O c t o b e r 2 0 0 8 o n : - 8 2 . 2 2 9 0 1 8 / L a t : 3 4 . 3 8 1 4 4 9

3 9 G r e e n w o o d A v e 1 . 0 0 M i l e 3 . 0 0 M i l e s 5 . 0 0 M i l e s


o u s e h o l d T y p e ( 2 0 0 8 )

T o t a l H o u s e h o l d s 1 8 5 1 , 2 9 1 2 , 7 2 7

F a m i l y H o u s e h o l d s 1 1 9 6 4 . 2 % 8 5 4 6 6 . 1 % 1 , 8 5 1 6 7 . 9

F a m i l y H o u s e h o l d s W i t h C h i l d r e n 5 4 4 5 . 8 % 3 9 9 4 6 . 8 % 8 7 3 4 7 . 2

F a m i l y H o u s e h o l d s N o C h i l d r e n 6 4 5 4 . 2 % 4 5 4 5 3 . 2 % 9 7 8 5 2 . 8

N o n - F a m i l y H o u s e h o l d s 6 6 3 5 . 8 % 4 3 7 3 3 . 9 % 8 7 5 3 2 .

N o n - F a m i l y W i t h C h i l d r e n 0 0 . 0 % 1 0 . 2 % 4 0 . 4

N o n - F a m i l y N o C h i l d r e n 6 6 1 0 0 . 0 % 4 3 6 9 9 . 8 % 8 7 1 9 9 . 6

d u c a t i o n a l A t t a i n m e n t ( 2 0 0 8 )

E l e m e n t a r y o r S o m e H i g h S c h o o l 8 6 2 5 . 8 % 5 8 4 2 5 . 2 % 1 , 1 4 1 2 3 . 6

H i g h S c h o o l G r a d u a t e 1 2 9 3 8 . 7 % 9 5 6 4 1 . 2 % 2 , 0 4 7 4 2 . 3

S o m e C o l l e g e o r A s s o c i a t e s D e g r e e 7 4 2 2 . 2 % 4 9 1 2 1 . 2 % 1 , 0 7 1 2 2 .

B a c h e l o r o r G r a d u a t e D e g r e e 4 4 1 3 . 4 % 2 8 7 1 2 . 4 % 5 7 8 1 2 . 0

o u s e h o l d I n c o m e ( 2 0 0 8 )

E s t . A v e r a g e H o u s e h o l d I n c o m e $ 4 4 , 4 4 3 $ 4 5 , 5 0 1 $ 4 7 , 6 0 4

E s t . M e d i a n H o u s e h o l d I n c o m e $ 3 3 , 5 5 0 $ 3 5 , 5 1 8 $ 3 7 , 9 8 7

H H I n c o m e $ 0 t o $ 9 , 9 9 9 2 0 1 0 . 6 % 1 5 8 1 2 . 3 % 2 8 6 1 0 . 5

H H I n c o m e $ 1 0 , 0 0 0 t o $ 3 4 , 9 9 9 7 7 4 1 . 9 % 4 9 1 3 8 . 0 % 1 , 0 0 2 3 6 . 7

H H I n c o m e $ 3 5 , 0 0 0 t o $ 4 9 , 9 9 9 2 7 1 4 . 7 % 1 9 5 1 5 . 1 % 4 3 3 1 5 . 9

H H I n c o m e $ 5 0 , 0 0 0 t o $ 7 4 , 9 9 9 3 3 1 7 . 9 % 2 4 4 1 8 . 9 % 5 2 5 1 9 . 2H H I n c o m e $ 7 5 , 0 0 0 t o $ 9 9 , 9 9 9 1 5 8 . 3 % 1 1 3 8 . 8 % 2 7 4 1 0 .

H H I n c o m e $ 1 0 0 , 0 0 0 t o $ 1 4 9 , 9 9 9 1 0 5 . 2 % 7 0 5 . 4 % 1 6 2 5 . 9

H H I n c o m e $ 1 5 0 , 0 0 0 o r M o r e 3 1 . 4 % 1 9 1 . 5 % 4 5 1 . 6


1 . 0 0 M i l e

0

1 0

2 0

3 0

4 0

5 0

6 0

7 0

8 03 . 0 0 M i l e s

05 0

1 0 01 5 02 0 02 5 03 0 03 5 04 0 04 5 05 0 0

5 . 0 0 M i l e s

F a m H H w / C h i l d

F a m H H n o C h i l d

N o n - F a m w / C h i l d

N o n - F a m n o C h i l

01 0 02 0 03 0 04 0 05 0 06 0 07 0 08 0 09 0 0

1 , 0 0 0 1 , 1 0 0

1 . 0 0 M i l e

2 6 %

3 9 %

2 2 %

1 3 %

3 . 0 0 M i l e s

2 5 %

4 1 %

2 1 %

1 2 %

5 . 0 0 M i l e s

E l e m e n t a r y / S o m e H S

H S G r a d u a t e

S o m e C o l l / A s s o c . D e g r e e

B a c h e l o r / G r a d u a t e D e g r e e

2 4 %

4 2 %

2 2 %

1 2 %

H o u s e h o l d I n c o m e D i s t r i b u t i o n ( i n 1 , 0 0 0 ' s )

1 . 0 0 M i l e

3 . 0 0 M i l e s

5 . 0 0 M i l e s

$ 0 t o $ 1 0 $ 1 0 t o $ 3 5 $ 3 5 t o $ 5 0 $ 5 0 t o $ 7 5 $ 7 5 t o $ 1 0 0 $ 1 0 0 t o $ 1 5 0 $ 1 5 0 P l u s

0 . 0 % 5 . 0 %

1 0 . 0 % 1 5 . 0 % 2 0 . 0 % 2 5 . 0 % 3 0 . 0 % 3 5 . 0 % 4 0 . 0 % 4 5 . 0 %


12/12

Atlanta, Georgia 30326

Phone: (770)842-6904

Email:[email protected]

Exclusively Listed & Presented By:

The Pinnacle Building3455 Peachtree Rd Suite 500



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Fdw Package