Located at 1230 Main Street, Wellsville, Ohio, this Net Leased Family Dollar property consists of an 8,000 sq.ft building that sits on a massive 1-acre of land on the main street facing the main corridor of Wellsville. The subject property is situated in Columbiana County, which is just a 60-minute drive from North West of downtown Pittsburgh, PA. The immediate area has a population of more than 20,000 residents. The subject property has no direct competition in this location. The current double net lease agreement has approximately three years remaining, of the second, exercised option period, and the landlord is only responsible for roof and structure maintenance along with a few more responsibilities. The current lease agreement includes a 10 percent hike in rent during the four five-year option periods. Showing their commitment to the location, Family Dollar has already extended the lease term, twice for an additional five years each. There is also a 3 percent of rent clause on sales above $1,666,666 to benefit the landlord.
Family Dollar is one of the leading discount store chains in the United States. The company’s growth is fueled by its merchandising strategy. It offers customers lucrative options on essential goods for their family and home in a small-box, neighborhood format. Family Dollar is providing customers with value and convenience for 50 years now. As part of a brilliant investment strategy, Dollar Tree acquired Family Dollar for $8.5 Billion, which resulted in more than 13,600 stores across 48 states and five Canadian Providences, including sales exceeding $18 billion.
This investment property is suitable for a 1031 exchange.
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