| PROPERTY INFORMATION |
| Address |
9776 E 11th St
Tulsa ,
OK 74128 |
| Purchase Price |
$1,078,938 |
| Total Square Feet |
9,180 |
| Price / SqFt |
$117.53 |
| Cash on Cash Return |
7.250 % |
| Lease Guarantor |
Family Dollar |
| Lot Size |
0.85 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. /
NA |
| 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.
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| DEMOGRAPHIC INFORMATION |
| Population |
384,037 |
| Average Household Income |
$50,266 |
Located in northeast Oklahoma. Tulsa is the second largest city. Tulsa has its economic base in oil, aviation, and telecommunications. It is the home of Oral Roberts University and the University of Tulsa. Forbes ranked Tulsa 2nd as Best City of Economic Growth.
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| PROPERTY DESCRIPTION |
Newly constructed 9,180-sf Family Dollar Store.
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| LEASE INFORMATION |
| Lease Commencement |
2008-09-01 |
| Fixed Term Ends |
12/31/2018 |
| Lessor Responsibility |
Roof & Structure, and parking lot repairs over $1000 per year |
| Tenant Responsibility |
RE Taxes & Insurance (reimbursed), Utilities, general maintenance & HVAC |
| Lease Term |
10 years |
| Annual Rent |
$78,223 |
| 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 |
$78,223 |
7.25% |
11-15* |
$86,045 |
7.98% |
16-20* |
$94,649 |
8.77% |
21-25* |
$104,115 |
9.65% |
26-30* |
$114,526 |
10.61% |
31-35* |
$125,978 |
11.68% |
* Assuming client exercises this option
| Average Term Rent |
$97,413 |
| Average Term Cap Rate |
9.03% |
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