Cap Rate: 6.50%
Total Net Operating Income: $112,875
Square Footage: 10,500
Lot Size: 1.27 AC
Year Built: 2021
The Kase Group is pleased to offer the opportunity to acquire the 100% fee simple interest in a net leased Family Dollar | Dollar Tree new concept store. This building is being built as the latest dual branded format store offering both Family Dollar/Dollar Tree merchandise. This 10,500 square foot hybrid store, in Newton, Mississippi has a 10-year lease which commences in September of 2021. The 100% fee simple interest in the underlying land and building is being offered. The tenant has six five-year options to renew with 5% increases in rent during the option periods. Neighboring retailers include Walmart Supercenter, Sonic Drive-In, Pizza Hut, AutoZone, and many others.
Newton is a city in Newton County, Mississippi. The population was 3,373 in the 2010 census. Newton is located south of I-20 and U.S. Route 80 approximately 25 miles west of Meridian in south central Newton County. Potterchitto Creek flows past the west and north sides of the city.