FAMILY DOLLAR 5771 Kyser Court Montgomery, AL 36116 - investment offering
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FAMILY DOLLAR
5771 Kyser Court
investment offering Montgomery, AL 36116
REPRESENTATIIVE PHOTO
TABLE OF CONTENTS DISCLAIMER
This Marketing Package was prepared by Wertz Real Estate Investment Services and DZ Net Lease
Realty, LLC (“Broker”) solely for the use of prospective buyer considering the purchase of the Property
within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of
the Property make any representation or warranty, expressed or implied, as to the completeness or
accuracy of the material contained in the Marketing Package.
Prospective purchasers of the Property are advised that changes may have occurred in the physical or
financial condition of the Property since the time this Marketing Package or the financial statements
herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the
financial statements herein were prepared by Broker, and not by Owner, and are based upon
assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to
variation. Other than current and historical revenue and operating expense figures for the Property,
Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding
the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own
comprehensive review and analysis of the Property.
Financial Overview 3 The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner
and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or
Tenant Overview
offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate
4 discussions with any entity at any time with or without notice.
The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package
Executive Summary 5 or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to
its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real
Estate Purchase Agreement prepared by Owner.
Property Photos 6-8 This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will
hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not
Location Map 9 photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing
Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you
will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.
Area Map 10 Broker has obtained the information contained in this Marketing Package from sources we believe to be
reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation
Market Overview 11 about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other
conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions,
assumptions, or estimates for example only, and they may not represent current or future performance of
Demographic Report 12 the Property. You and your tax and legal advisors should conduct your own investigations of the physical
condition of the Property and of the financial performance of its future Ownerships.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT BROKER FOR
MORE DETAILS.
For more information contact:
John R. Wertz Greg LaBarre
Tel: (619) 218-6427 Tel: (619) 997-1242 Listed with Alabama broker
jwertz@wertzrealestate.com glabarre@wertzrealestate.com DZ Net Lease Realty, LLC
CA Lic No. 01448585 CA Lic. No. 02069301 Lic. No. 98934
financial overview
OFFERING SUMMARY
PRICE $1,825,383
DOWN PAYMENT 100% / $1,825,383
RENTABLE SQUARE FEET 9,085 SF
cap rATE 6.00%
year built / renovated 2015
lot size 1.30 +/- Acres
type of ownership Fee Simple
TENANT SUMMARY
ANNUALIZED OPERATING DATA
TENANT TRADE NAME Family Dollar
OWNERSHIP Public Rent Increases Annual Rent Monthly Rent
LEASE GUARANTOR Corporate 4/1/15 - 3/31/25 $109,523.04 $9,126.92
4/1/25 - 3/31/30 $120,475.08 $10,039.59
LEASE TYPE Absolute NNN
4/1/30 - 3/31/35 (Option 1) $132,522.00 $11,043.50
roof & structure Tenant Responsible
4/1/35 - 3/31/40 (Option 2) $145,774.08 $12,147.84
original lease term Fifteen (15) Years
4/1/40 - 3/31/45 (Option 3) $160,352.04 $13,362.67
rent commencement date 04/01/2015
4/1/45 - 3/31/50 (Option 4) $176,387.04 $14,698.92
lease expiration date 03/31/2030
4/1/50 - 3/31/55 (Option 5) $194,026.08 $16,168.84
term remaining on lease Nine (9) Years
4/1/55 - 3/31/60 (Option 6) $213,428.04 $17,785.67
increases 10% Every 5-Years
OPTIONS TO RENEW (6) 5-Year Options NET OPERATING INCOME $109,523.04
RIGHT OF FIRST REFUSAL No TOTAL RETURN yr-1 6.00% $109,523.04
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
TENANT overview
FAMILY DOLLAR STORES, INC.
PROPERTY NAME Family Dollar
As one of the nation’s fastest growing retailers, Family Dollar
offers a compelling assortment of merchandise for the whole PROPERTY ADDRESS 5771 Kyser Court
family, ranging from household cleaners to name brand foods, Montgomery, AL 36116
from health and beauty aids to toys, from apparel for every age to
PROPERTY TYPE Net Lease Dollar Store
home fashions, all for everyday low prices. While shoppers can
find many items at $1 or less, most items in the store are priced LEASE GUARANTOR Corporate
below $10, which makes shopping fun without stretching the
family budget. TERM REMAINING ON LEASE Nine (9) Years
The relatively small footprint of many Family Dollar stores allows OPTIONS TO RENEW (6) 5-Year Options
the Company to open new stores in rural areas and small towns,
as well as in large urban neighborhoods. Within these markets, lease type Absolute NNN
the stores are located in shopping centers or as free-standing
buildings, all convenient to the Company’s customer base. LANDLORD RESPONSIBILITY None
In 2015, Dollar Tree acquired Family Dollar. Headquartered in INCREASES 10% Every 5-Years
Chesapeake, Virginia, Dollar Tree is the largest and most suc-
cessful single price-point retailer in North America, operating thou- year 1 net operating income $109,523.04
sands of stores across 48 U.S. states and five Canadian provinc- no. of locations 8,200+
es. Dollar Tree’s strategic rationale behind the Family Dollar
acquisition include creating a leading discount retailer in North headquartered Chesapeake, VA
America, targeting a broader range of customers and geogra-
phies, leveraging complementary merchandise expertise, gener- website www.familydollar.com
ating significant synergy opportunities, and enhancing financial
performance and improved growth prospects. years in the business Since 1959
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
executive summary INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS The subject property is a freestanding Family Dollar relocation • 15-Year Absolute NNN Lease with 9-Years Remaining store located in Montgomery, AL. There are 9-years remaining on the 15-year absolute NNN lease with 10% rent increases every 5-Years, with the first increase coming in 2025. The property is • Relocation Store - Proven Success in the Community & Market strategically located at a busy signalized intersection and hard corner directly across from Dollar General and adjacent to a • 10% Rent Increases Every 5-Years (NOI = $120,475 in 2025) RaceWay gas station. The site benefits from its excellent visibility and frontage along one of the most heavily trafficked thoroughfares in Montgomery (Troy Highway), which boasts over • Located at Signalized Intersection & Hard Corner 36,000 vehicles per day. Within 5-miles of the subject property there are over 100,000 residents with an average household • Traffic Counts Exceed 36,000 Vehicles Per Day income exceeding $80,000 annually. National retailers in the immediate vicinity include O’Reilly Auto • 100,000 Residents within 5-Miles of Subject Property Parts, Wendy’s, TJMaxx, Raceway, Dollar General, Citgo, Wal-Mart, Arby’s, Popeyes, Burger King, Walgreens, McDonald’s, Olive Garden, Party City, Dollar Tree, Longhorn Steakhouse, Tractor Supply, and many more. This is an excellent opportunity for an investor to purchase a stable, long term corporately guaranteed investment with zero landlord responsibility. The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AERIAL PHOTO The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
LOCATION MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AREA MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
MARKET overview
MONTGOMERY, ALABAMA
Montgomery is the capital city of the U.S. state of Alabama and the county seat of Montgomery County. Named for Richard Montgomery, it stands beside the Alabama River, on the coastal Plain
of the Gulf of Mexico. In the 2010 Census, Montgomery's population was 205,764. It is the second most populous city in Alabama, after Birmingham, and is the 118th most populous in the United
States. The Montgomery Metropolitan Statistical Area's population in 2010 was estimated at 374,536; it is the fourth largest in the state and 136th among United States metropolitan areas. The
city was incorporated in 1819 as a merger of two towns situated along the Alabama River. It became the state capital in 1846, representing the shift of power to the south-central area of Alabama
with the growth of cotton as a commodity crop of the Black Belt and the rise of Mobile as a mercantile port on the Gulf Coast. In February 1861, Montgomery was chosen the first capital of the
Confederate States of America, which it remained until the Confederate seat of government moved to Richmond, Virginia, in May of that year. In the middle of the 20th century, Montgomery was
a major center of events and protests in the Civil Rights Movement, including the Montgomery bus boycott and the Selma to Montgomery marches.
In addition to housing many Alabama government agencies, Montgomery has a large military presence, due to Maxwell Air Force Base; public universities Alabama State University, Troy
University (Montgomery campus), and Auburn University at Montgomery; two private post-secondary institutions, Faulkner University and Huntingdon College; high-tech manufacturing, including
Hyundai Motor Manufacturing Alabama; and many cultural attractions, such as the Alabama Shakespeare Festival and the Montgomery Museum of Fine Arts. Two ships of the United States
Navy have been named after the city, including USS Montgomery. Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the
first cities in the nation to implement Smart Code Zoning.
118th Largest City Ranked as the Second Montgomery is the Capital
in the United States Most Populous City in Alabama City of the U.S. state of Alabama
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.DEMOGRAPHIC REPORT
REPRESENTATIVE PHOTO
population 1 MILE 3 MILES 5 miles households 1 MILE 3 MILES 5 miles
2026 Projection 10,487 51,705 102,972 2021 Est. Avg. HH Income $58,291 $70,649 $81,286
2021 Estimate 10,359 51,623 102,849 2026 Projection 3,767 21,030 42,008
Percent Change 2021-2026 1.24% 0.16% 0.12% 2021 Est. Households 3,710 21,000 41,975
Median Age 28.94 34.29 36.13 Percent Change 2021-2026 1.54% 0.14% 0.08%
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.Wertz Real Estate Investment Services
3138 Roosevelt Street, Suite L
Carlsbad, CA 92008
Tel: (619) 218-6427
Fax: (858) 408-1830
www.wertzrealestate.com
Listed with Alabama broker
DZ Net Lease Realty, LLC license 98934Acknowleged and Accepted: Seller/Landlord By:_______________________ Date:_________ Buyer/Tenant By:_______________________ Date:__________
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