| PROPERTY INFORMATION |
| Address |
2653 El Indio Highway
Eagle Pass ,
TX 78852 |
| Purchase Price |
$1,130,883 |
| Total Square Feet |
9,180 |
| Price / SqFt |
$123.19 |
| Cash on Cash Return |
7.250 % |
| Lease Guarantor |
Family Dollar |
| Lot Size |
1.03 acres |
| Percentage Rent |
N/A |
| Minimum Investment |
$50,000 |
| Year Built |
2008 |
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| TENANT PROFILE |
| Tenant |
Family Dollar |
| Research Report |
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| Net Worth / Credit Rating |
1.17 Bil. /
N/A |
| Ticker Symbol |
FDO |
| Tenant Website |
www.familydollar.com |
Family Dollar, Inc. (NYSE: FDO) is one of the fastest growing retailers in the United States. In 2007, the company operates over 6,300 stores in 44 states, generating annual revenue in excess of $6 billion. The company consistently maintains strong financials with little to no long term debt.
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| DEMOGRAPHIC INFORMATION |
| Population |
24,472 |
| Average Household Income |
$33,659 |
Located in southwest Texas along the Rio Grande River, Eagle Pass is the main channel of commerce between San Antonio and Mexico. The city is the county seat of Maverick County, and has a population of approximately 25,000.
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| PROPERTY DESCRIPTION |
1.03-acre tract of land in Eagle Pass, Texas, with newly constructed 9,180-sf Family Dollar Store.
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| LEASE INFORMATION |
| Lease Commencement |
2008-02-01 |
| Fixed Term Ends |
December 31, 2018 |
| Lessor Responsibility |
Roof & Structure |
| Tenant Responsibility |
RE Taxes & Insurance (reimbursed), Utilities, & HVAC |
| Lease Term |
10 years |
| Annual Rent |
$81,989 |
| Rent Escalation |
10% in each option period |
| Lease Type |
NN |
| Lease Renewal Options |
(5) 5-year options |
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| RENT PAYMENT SCHEDULE |
Year |
Rent |
Annual ROI |
1-10 |
$81,989 |
7.25% |
11-15* |
$90,188 |
7.975% |
16-20* |
$99,207 |
8.772% |
21-25* |
$109,127 |
9.65% |
26-30* |
$120,040 |
10.615% |
31-35* |
$132,044 |
11.676% |
* Assuming tenant exercises this option
| Average Term Rent |
$102,083 |
| Average Term Cap Rate |
9.02% |
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